{"id":13191,"date":"2013-01-01T14:27:02","date_gmt":"2013-01-01T19:27:02","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=13191"},"modified":"2013-01-01T14:29:17","modified_gmt":"2013-01-01T19:29:17","slug":"functional-finance-and-the-debt-ratio-part-i","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2013\/01\/01\/functional-finance-and-the-debt-ratio-part-i\/","title":{"rendered":"Functional Finance and the Debt Ratio\u2014Part I"},"content":{"rendered":"<p><em>New Economic Perspectives<\/em> has a series starting with <a title=\"New Economic Perspectives Article\" href=\"http:\/\/neweconomicperspectives.org\/2012\/12\/functional-finance-and-the-debt-ratio-part-i.html\" target=\"_blank\"><strong>Functional Finance and the Debt Ratio\u2014Part I<\/strong><\/a>. The articles come with the warning:<\/p>\n<blockquote><p>This five part series will explore at length (warning!) and in detail (another warning\u2014wonk alert!) the MMT perspective on the debt ratio and fiscal sustainability.\u00a0 While the approach suggests a macroeconomic policy mix and strategies for both fiscal and monetary policies that most neoclassical economists currently believe are unsustainable, ultimately the MMT preference for a significant role for fiscal policy in macroeconomic stabilization is shown to be consistent with traditional neoclassical views on fiscal sustainability.<\/p><\/blockquote>\n<p>MMT is Modern Monetary Theory.\u00a0 While this is heavy going\u00a0 for the uninitiated (including me), it is still worthwhile to read.\u00a0 A learning style that works for me is to read papers\u00a0 on a topic that add even a little bit to my understanding of the topic.\u00a0 If I then take the necessary time to ponder what I have read and process it in my conscious and subconscious mind, the next item I read on the topic will be more worthwhile.\u00a0 I make no claim that this process works for everybody.\u00a0 I can only attest to what works for me.<\/p>\n<p>In this learning process, it is not necessary to buy the premise of what you are reading.\u00a0 It is only necessary to understand what they are trying to say.\u00a0 Eventually you may achieve your own informed opinion on the matter.<\/p>\n<p>At the time of this blog posting, only two of the five parts have been published.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Economic Perspectives has a series starting with Functional Finance and the Debt Ratio\u2014Part I. The articles come with the warning: This five part series will explore at length (warning!) and in detail (another warning\u2014wonk alert!) the MMT perspective on the debt ratio and fiscal sustainability.\u00a0 While the approach suggests a macroeconomic policy mix and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":["post-13191","post","type-post","status-publish","format-standard","category-stevegsposts","czr-hentry"],"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/13191","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=13191"}],"version-history":[{"count":3,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/13191\/revisions"}],"predecessor-version":[{"id":13193,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/13191\/revisions\/13193"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=13191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=13191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=13191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}