{"id":7366,"date":"2013-03-07T15:20:38","date_gmt":"2013-03-07T20:20:38","guid":{"rendered":"http:\/\/www.multiplier-effect.org\/?p=7366"},"modified":"2013-03-07T15:22:04","modified_gmt":"2013-03-07T20:22:04","slug":"the-way-we-talk-and-dont-talk-about-money","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/the-way-we-talk-and-dont-talk-about-money\/","title":{"rendered":"The Way We Talk (and Don&#8217;t Talk) About Money"},"content":{"rendered":"<p>Victoria Chick, a student of Hyman Minsky&#8217;s, elaborates on an issue that often strikes non-economists as somewhere between scandalous and baffling:\u00a0 the absence of any substantive acknowledgment of <em>money<\/em> in much of contemporary economics and economic modelling.<\/p>\n<p>(Particularly interesting around the 12:10 mark, where Chick argues that faulty or outdated language in relation to banking helps reinforce misunderstandings about deposits, lending, and the relationship between the two.)<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/EObtwxpDSzk?feature=player_detailpage\" height=\"270\" width=\"480\" allowfullscreen=\"\" frameborder=\"0\"><\/iframe><\/p>\n<p>(via <a href=\"http:\/\/nakedkeynesianism.blogspot.com\/2013\/03\/victoria-chick-why-dont-economists.html\">David Fields<\/a>)<\/p>\n<p>For more on this question of how to understand money and its role in our economic systems, see this working <a href=\"http:\/\/www.levyinstitute.org\/publications\/?docid=1344\">paper<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Victoria Chick, a student of Hyman Minsky&#8217;s, elaborates on an issue that often strikes non-economists as somewhere between scandalous and baffling:\u00a0 the absence of any substantive acknowledgment of money in much of contemporary economics and economic modelling. (Particularly interesting around the 12:10 mark, where Chick argues that faulty or outdated language in relation to banking [&hellip;]<\/p>\n","protected":false},"author":202,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[112,40],"tags":[133,558,30,38,413,557],"class_list":["post-7366","post","type-post","status-publish","format-standard","hentry","category-modern-monetary-theory","category-monetary-policy","tag-banking","tag-loans-create-deposits","tag-minsky","tag-monetarism","tag-money","tag-victoria-chick"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/7366","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=7366"}],"version-history":[{"count":15,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/7366\/revisions"}],"predecessor-version":[{"id":7380,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/7366\/revisions\/7380"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=7366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=7366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=7366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}