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There is a hypocrisy displayed by the neoliberals. Its ok for the Fed to purchase mortgage backed securities and treasury bonds to raise stock prices, largely benefiting the top-twenty percent of asset holders who own 87% of the wealth. It’s not ok to use the Fed to help finance deficits to repair infrastructure, raise the incomes of workers, and fund social programs. The upshot: keep the wage-laborers unemployed and their incomes stagnant. Make them sweat. Reactionary neoliberals, Nancy Fraser’s term, refuse to raise taxes on the rich to fund social programs. Functional finance provides a viable alternative.

Thank you Jairo for sharing the article.

John P. Watkins
Professor of Economics
Westminster College
1840 South 1300 East
Salt Lake City, UT 84105
Office: 801 832-2628
Cell: 801 550-5834

John Watkins


From: AFEEMAIL Discussion List <[log in to unmask]> On Behalf Of Jairo Parada
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Subject: Rogoff on MMT. a clear attack!

Modern Monetary Nonsense | by Kenneth Rogoff<https://urldefense.proofpoint.com/v2/url?u=https-3A__www.project-2Dsyndicate.org_commentary_federal-2Dreserve-2Dmodern-2Dmonetary-2Dtheory-2Ddangers-2Dby-2Dkenneth-2Drogoff-2D2019-2D03-3Futm-5Fsource-3DProject-2BSyndicate-2BNewsletter-26utm-5Fcampaign-3D6fde8e35aa-2Dsunday-5Fnewsletter-5F10-5F3-5F2019-26utm-5Fmedium-3Demail-26utm-5Fterm-3D0-5F73bad5b7d8-2D6fde8e35aa-2D93594333-26mc-5Fcid-3D6fde8e35aa-26mc-5Feid-3D8c4a098e8d&d=DwMFaQ&c=Cu5g146wZdoqVuKpTNsYHeFX_rg6kWhlkLF8Eft-wwo&r=LtbujWNPdbzw6j8eq9-RJVMBctp9ndCoqGEy57VsNLQ&m=DY1W_MWIdo16RQeabUtqt2-l3gzz13aTUSujuv6JWws&s=jME5GnjuRqI32hK4g4BTQK4_OOx29z6mIg_Sox6Tjas&e=>


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Modern Monetary Nonsense | by Kenneth Rogoff

Kenneth Rogoff

A number of leading progressive US politicians advocate using the Federal Reserve's balance sheet to fund expans...





Jairo J. Parada, PhD.
Economist
Barranquilla-Colombia
Phone: 57-5-3557657
Cell Phone: 311-650-0550
twitter   #jparadacor
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