Corrente

If you have "no place to go," come here!

John Carney

letsgetitdone's picture

New MSM Trillion Dollar Coin Wave Misses the Big Story: Hayes and Carney

Did the MSM's new wave of commentaries on platinum coin seigniorage (PCS) miss the really big story about it? Of course, I think it did, and I'll continue my review of the MSM commentaries with the efforts of Chris Hayes at MSNBC, substituting as host on the Rachel Maddow show (12/05 at 9:20 PM); and John Carney at CNBC (12/06 at 11:54 AM). This is my second review post on this subject.

Chris Hayes Read below the fold...

letsgetitdone's picture

John Carney Doesn't Believe That Government Spending Can Achieve Public Purpose

John Carney commented on a post by David Brooks and a follow-up by Randy Wray. Brooks says that a tax credit is essentially the same as Government spending and used an example from David Bradford, a Princeton economist, of the Pentagon wanting to acquire a new plane and paying for it with a tax credit.

Randy comments on the idea this way: Read below the fold...

letsgetitdone's picture

The Job Guarantee and the MMT Core: Part Fourteen, MMT Is A Holistic Knowledge Claim Network

Thread: 

The recent extensive blogosphere discussion on the JG and the MMT core began with a post by John Carney that stated his opposition to the Modern Monetary Theory (MMT) Job Guarantee proposal and claimed it either wasn't an essential component of MMT, or that if it was, then MMT was wrong. Cullen Roche, a well-known popularizer of MMT at his Pragmatic Capitalism blog then asserted: Read below the fold...

letsgetitdone's picture

The Job Guarantee and the MMT Core: Part Thirteen, John Carney Is Full of Talking Points and That's Polite

In a piece called “More Questions About the Job Guarantee,” John Carney provides some links to the continuing debate on the Job Guarantee (JG). All the links are to posts critical of the JG idea except a link to one of my four posts critical of Carney's earlier work and supportive of the JG. Read below the fold...

letsgetitdone's picture

The Job Guarantee and the MMT Core: Part Seven, Dialogue With Warren Mosler

Warren Mosler kindly replied to my Part Two of this series which provided the basis for this dialogue, reproducing Part Two with comments by Warren and myself.

MMT and Public Purpose:The Normative Component Read below the fold...

letsgetitdone's picture

The Job Guarantee and the MMT Core: Part Five, John Carney on the Mismatch Problem and the Distribution of Labor

Parts One, Two, Three,and Four

In the first four parts of this series, I analyzed views on the Job Guarantee (JG) idea offered by Cullen Roche and Peter Cooper in conjunction with a post by John Carney, which kicked off an explosion of blogosphere posts and commentaries on the JG. In Part Three I began an analysis of John Carney's views by taking exception to his claims that the JG would be inflationary, a bureaucratic nightmare, and would cause economic stagnations. In Part Four, I critiqued his views on the problem of a mismatch between demand and the skills needed to fulfill it, the possible inflationary impact of this mismatch, and also his claims on the JG and stagnation.

In this post, I continue analyzing John's further take on the JG in in his 'The Trouble with a Job Guarantee. His reasoning in this post, focuses on the problem of a mismatch between demand and the skills needed to fulfill it, the possible inflationary impact of this mismatch, and also amplifies his claims on the JG and stagnation. My interleaved replies from an MMT perspective to his assertions and arguments are provided in this and an upcoming post, as well as in Part Four. All my replies assume that the JG would not be “paid for,” but would occur through deficit spending. Read below the fold...

letsgetitdone's picture

The Job Guarantee and the MMT Core: Part Four, John Carney on the Mismatch Problem and Hayek's Theory

Parts One, Two, and Three.

In the first three parts of this series, I analyzed views on the Job Guarantee (JG) idea offered by Cullen Roche and Peter Cooper in conjunction with a post by John Carney, which kicked off an explosion of blogosphere posts and commentaries on the JG. In Part Three I began an analysis of John Carney's views by taking exception to his claims that the JG would be inflationary, a bureaucratic nightmare, and would cause economic stagnations

In this post, I'll begin analyzing John's further take on the JG in a second post of his. His reasoning in this post, focuses on the problem of a mismatch between demand and the skills needed to fulfill it, the possible inflationary impact of this mismatch, and also amplifies his claims on the JG and stagnation. My interleaved replies from an MMT perspective to his assertions and arguments are provided in this and upcoming posts. All my replies assume that the JG would not be “paid for,” but would occur through deficit spending. Read below the fold...

letsgetitdone's picture

The Job Guarantee and the MMT Core: Part One

MMT Going Mainstream?

Modern Monetary Theory (MMT), an approach to economics that emphasizes the facts about how fiat monetary systems actually work in the real world and the implications of these facts for fiscal policy and economics is beginning to go mainstream. As it does, more and more people are contributing to shaping the approach and are adding to the debate about it. Very recently John Carney of CNBC created a stir in the MMT community by writing favorably about MMT. Read below the fold...

Subscribe to RSS - John Carney
Turlock