Re:Show HN: M1 Chart – The stock market adjusted for the US-...
by tylerhou on Saturday February 13, 2021 @09:56PM
(#26129243)
Exactly — this is nowhere close to MMT. Stabilizing the price of the USD during recessions is literally the definition of Keynesian.
Re:Show HN: M1 Chart – The stock market adjusted for the US-...
by ric2b on Wednesday February 17, 2021 @09:24AM
(#26166563)
> Stabilizing the price of the USD during recessions is literally the definition of Keynesian.
Except the reverse doesn't happen (since the gold standard was dropped), so it's at best "half-Keynesian":
Overt Money Financing (OMF) is a policy option that MMT opens up, and there are probably shades of that in what’s going on, but I don’t see a whole lot of fiscal or monetary policy that actual MMT economists would say is a good idea.