The primer is supposed to answer the question "What is MMT?" but is aimed at readers with a background in economics.
People need a compact guide to MMT, written at a high level, without being forced to pay pirate publishers big $ for journal articles.
bondeconomics.com/2020/01/mmt-pr…
My concern is that it is too terse: people can read it, and not understand the thinking behind some statements. Very easily, they will run off and ... make stuff up.
Anyway, returning the thread, there are interesting implications of Mosler's white paper.
bondeconomics.com/2020/01/the-de…
bondeconomics.com/2020/01/mmt-an…
bondeconomics.com/2020/01/the-mo…
My definition of a "policy variable" is a variable that could be viewed as exogenous, but the government uses it as a feedback control variable.
bondeconomics.com/2020/01/mmt-an…
I give a minimal description of the Job Guarantee, and then outline its use as a policy variable.
bondeconomics.com/2020/01/job-gu…
The Job Guarantee wage is the fixed price that it pays for an open-ended amount for labour.
(Note that there other factors than just pay for evaluating jobs, so some firms could offer a lower wage for some positions.)
As such, the JG wage acts as price reference for wages at the bottom end of the distribution.
Key point: no central bankers required!
This "problem" is equivalent to 100% employment. Under usual assumptions, that is *maximal* output, and if we equate output=welfare, this is the globally optimal outcome.
"Neoclassical Economists Hate It When You Do This One Simple Trick!"
[End of thread. Waiting for the reply anti-MMT rants...]