| Professor Randall Wray is interviewed about Modern Monetary Theory, a radically new school of economics that he co-founded. He says the Fed should fire 99.9% of its staff, reduce its function to robotic interest rate maintenance, leave regulation to regulators who actually want to regulate. He explains why the government budget is not, can not, & ought not to be like the household budget, why economists don't understand macroeconomics & could not predict the crisis, & why another one is coming, soon. Now, if he could just understand the so-called Business Cycle, which is says is "inevitable" is really a Land Cycle, which is NOT inevitable, all would be well with MMT and maybe the economy too. |
Read the rest of the story HERE:
At neweconomicperspectives.org
At neweconomicperspectives.org
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