The name Modern Monetary Theory (MMT) implies that we have a comprehensive theory of fiat money and monetary policy. Unfortunately, most MMT authors limit their discussions to the creation aspect of money, thereby avoiding the mundane (but more important) discussion of using money for everyday transactions. To be comprehensive, MMT needs to embrace theory describing both the creation of money and the use of money--two distinctly different monetary events.
Friday, February 14, 2020
Sunday, January 19, 2020
A Brian Romanchuk post uses math that requires a starting point in a time series. Starting something creates a discontinuity in any temporal display that might appear in a chart. I would like to suggest a better way to notate the time series used by Brian.