The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
Well yes. If you define all other economists, including Bofinger or Krugman as cargo-cultists, leaving only the members of your sect as economists, then you have majority.
That is a quite apt description of what the neoclassicals have been doing.
Incidentally, I never claimed that I had a majority on the issue of whether subsidising private bondholders reduced inflation. I claimed that I was right as a matter of fact.
Furthermore you seem to confuse the national asset stock with the national debt,
Uh, no. What I said is that the quote-unquote "national debt" is the monetary base. If you eliminate the "national debt," you eliminate all state money in the economy. And that would be bad.
monetary growth with a deficit,
The two are the same.
In this cause a balanced budget over the cycle would indeed be wrong, but I don't share your assumptions
Those are not my assumptions, they are how fiat currencies work. Go check the Bank of International Settlements Working Paper 292, p. 19-21 if you don't want to take my word for it.
Austerity can only be implemented in the shadow of a concentration camp.
by ManfromMiddletown - Oct 20 44 comments
by gmoke - Oct 7 3 comments
by ARGeezer - Oct 7 60 comments
by DoDo - Oct 3 10 comments
by Frank Schnittger - Sep 29 19 comments
by Crazy Horse - Sep 29 25 comments
by ManfromMiddletown - Oct 2044 comments
by gmoke - Oct 73 comments
by ARGeezer - Oct 760 comments
by DoDo - Oct 310 comments
by Crazy Horse - Sep 2925 comments
by Frank Schnittger - Sep 2919 comments
by Frank Schnittger - Sep 274 comments
by Cyrille - Sep 24136 comments
by afew - Sep 2240 comments