Re: Article in the Chronicle of Higher Education

[Warren Mosler <mosler@xxxxxxxxxxxxxx>]

'Full Employment AND Price Stability'
explains unemployment as the evidence that
govt. isn't spending enough to satisfy the
desire to pay taxes and the desire to
net save financial assets.

How may axioms is that, etc???

Thanks,

Warren

>
> If you have two theories BOTH purporting to explain
> real world involuntary
> unemployment equilibrium, the more general theory
> (i.e., the one with the
> least number of restrictive axioms) MUST BE
> PREFERABLE OVER THE THE THOERY
> THAT REQUIRES ADDITIONAL RESTRICTIVE AXIOMS-- see
> OCCAM's RAZOR, Gunnar!!
>
> Paul
>
> Paul Davidson
> Editor, Journal of Post Keynesian Economics
> University of Tennessee
> SMC 503
> Knoxville, Tennessee 37996-0550
> phone # (561)369-1951; fax #(561)369-1951;
> email pdavidson@xxxxxxx
> http://econ.bus.utk.edu/davidsonextra/Davidson.html
>
>


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