Listen to @alexandrascaggs break down the current paradigm crisis in macroeconomics.
"The Fed has realized that people are not willing to accept the idea that there is or should be a reserve army of unemployed people anymore." #MMT 1/3
mronline.org/2020/01/15/cov…
"The Fed has realized that people are not willing to accept the idea that there is or should be a reserve army of unemployed people anymore." #MMT 1/3
mronline.org/2020/01/15/cov…
"That idea resonates a lot with people, because they’ve been hearing from mainstream media publications like, 'Oh, unemployment is this low, maybe inflation is going to start now.'" 2/3
"At this point, first, unemployment has fallen a lot and inflation hasn’t picked up. And second, people are more willing to challenge the Fed’s point of view since the financial crisis." 3/3
