Keynes was a practical man, and as such somewhat intellectually promiscuous. Keynes is also, like Fisher, one of those economists whose name needs to be followed by a year, because the 1937 vintage Keynes is not the 1936 vintage, which in turn is not the 1933 vintage.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

The (core) MMT'ers are chartalists, not circuitists. That's what makes them sharper in their analysis of the monetary system, but less sharp in their causal model of business cycles.

But of course the two schools converge, because they place a premium on empirical relevance.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.