日曜日, 6月 09, 2019

mmt-chart

Strong connection

Weaker connection

Austrians

Supply siders

Plosser

Hayek, et al.

Mundell, et al.

Real business cycle

Debreu

Lucas

Bernanke (4)

Arrow

Rational

Neoclassical

New monetary/

Hahn

expectations,

Jevons

macro consensus

General equilibrium

new classical

Walras

theory

Menger

Pigou

Malthus

Post-Keynesians

Clark

Marshall

Old Keynesians

New Keynesians

Monetarists

Demand gap

● Minsky

Marginal

Samuelson

Mankiw

Friedman

Say

Davidson

productivity

Hicks

Stiglitz

Greenspan

Supply creates

Kregel

theory

Tobin

Blinder

● Keynes (1)

demand

Institutionalists

● Robinson (3)

Ayres

Kalecki

Veblen

Mitchell

Smith

Dillard

Monetary theory of

Business cycles

Foster

production, institutions

Commons

Franklin

Marx (2)

Theory of law

Labor theory

Monetary theory

Mosler

of production,

of value

Mitchell

class struggle,

Wray

crises

Ricardo

Forstater

● Sraffa

Kelton

Modern Monetary

1. Keynes’s “The General Theory of Employment, Interest and Money” created the field of macroeconomics

2. MMT’s first textbook says that “it is probable” Marx’s theories influenced Keynes

3. Robinson explored how employers could pay workers less than they’re worth

4. This is the school of thought that predominates in central banks and leading universities

5. “The issuer of a currency faces no financial constraints”

Theory (5)