Re: THE KING IS NAKED

[Warren Mosler <mosler@xxxxxxxxxxxxxx>]

--- "Henry C.K. Liu" <hliu@xxxxxxxxxxxxxx> wrote:
> A very good point, Warren.  Keynesian solutions
> cannot possibly come
> from monetary measures alone.  Keynesian solutions
> need to focus on
> DIRECT impact on increasing employment and raising
> wages, not indirect
> impacts through which the voltage is drastically
> reduced by transmission
> resistance.

Henry,

That gets into the realm of 'theory.'  It IS possible
to lose that (unending) debate for a variety of
reasons I will not get into here.

The monetary aspect I wrote about is not a matter
of 'theory.'  It is undisputable operational reality.
And 'they' have it wrong.  They are vulnerable on
this critical point of fact.  That's why I'm
suggesting they be called on that narrow, operation
point and ruthlessly discredited in their
understanding of monetary operations.  From there
the discussion can spread to areas of theory from a
'sound' monetary understanding.

Warren


=====
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