MMP Blog #51: The Efficiency Fairy and Inflation Goblins
The main objections to MMT are the belief that adoption of a fiat money necessarily leads to high inflation and perceived government inefficiency. Let’s expose these boogeymen.
Hyman Minsky
MMP Blog #32: Milton Friedman’s Version of Functional Finance: A Proposal for Integration of Fiscal and Monetary Policy
Milton Friedman was a conservative economist and a vocal critic of “big government” and of Keynesian economics. Yet, in 1948 he made a proposal that was almost identical to Lerner’s functional finance views.
