{"id":13022,"date":"2016-03-14T10:58:48","date_gmt":"2016-03-14T14:58:48","guid":{"rendered":"http:\/\/multiplier-effect.org\/?p=13022"},"modified":"2016-03-14T11:00:20","modified_gmt":"2016-03-14T15:00:20","slug":"bloomberg-modern-money-theory-gaining-converts","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/bloomberg-modern-money-theory-gaining-converts\/","title":{"rendered":"Bloomberg: Modern Money Theory Gaining Converts"},"content":{"rendered":"<p>Bloomberg just published\u00a0an <a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-03-13\/ignored-for-years-a-radical-economic-theory-is-gaining-converts\">article<\/a>\u00a0focused on the rise\u00a0of Modern Money Theory (MMT), featuring comments by Senior Scholar <a href=\"http:\/\/www.levyinstitute.org\/publications\/l-randall-wray\">Randall Wray<\/a>:<\/p>\n<blockquote><p>The 20-something-year-old doctrine, on the fringes of economic thought, is getting a hearing with an unconventional take on government spending in nations with their own currency.<\/p>\n<p>Such countries, the MMTers argue, face no risk of fiscal crisis. They may owe debts in, say, dollars or yen &#8212; but they\u2019re also the monopoly creators of dollars or yen, so can always meet their obligations. For the same reason, they don\u2019t need to finance spending by collecting taxes, or even selling bonds. [&#8230;]<\/p>\n<p>No one\u2019s saying there are no limits. Real resources can be a constraint &#8212; how much labor is available to build that road? Taxes are an essential tool, to ensure demand for the currency and cool the economy if it overheats. But the MMTers argue there\u2019s plenty of room to spend without triggering inflation.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg just published\u00a0an article\u00a0focused on the rise\u00a0of Modern Money Theory (MMT), featuring comments by Senior Scholar Randall Wray: The 20-something-year-old doctrine, on the fringes of economic thought, is getting a hearing with an unconventional take on government spending in nations with their own currency. Such countries, the MMTers argue, face no risk of fiscal crisis. [&hellip;]<\/p>\n","protected":false},"author":202,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[112],"tags":[1014,368,151,381],"class_list":["post-13022","post","type-post","status-publish","format-standard","hentry","category-modern-monetary-theory","tag-bloomberg","tag-l-randall-wray","tag-mmt","tag-modern-money-theory"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/13022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/users\/202"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/comments?post=13022"}],"version-history":[{"count":5,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/13022\/revisions"}],"predecessor-version":[{"id":13027,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/13022\/revisions\/13027"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=13022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=13022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=13022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}