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Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Notice: Trying to access array offset on value of type int in element_children() (line 6600 of /var/www/drupal-7.x/includes/common.inc).
Deprecated function: implode(): Passing glue string after array is deprecated. Swap the parameters in drupal_get_feeds() (line 394 of /var/www/drupal-7.x/includes/common.inc).
Deprecated function: The each() function is deprecated. This message will be suppressed on further calls in menu_set_active_trail() (line 2405 of /var/www/drupal-7.x/includes/menu.inc).
Published by Matthew Davidson on Wed, 29/03/2017 - 8:49pm
@strypey I love Steve Keen. All academics should be so convivially arrogant (Bill Mitchell's the same in that regard). He seems to distance himself from #MMT without disagreeing with it, and certainly has the same theoretical forebears (Minsky, Godley, Keynes, Kalecki, etc.)
Published by Matthew Davidson on Wed, 29/03/2017 - 8:43pm
@strypey Credit issued by the private sector has to be paid back. Public sector credit does not, and is how the public sector mobilises resources to meet policy objectives. "Government debt" is just a record of $-denominated credit ("money") issued to the private sector. #MMT
Published by Matthew Davidson on Wed, 29/03/2017 - 8:24pm
@strypey With people you trust, you settle accounts at the harvest festival. Then you drink and play raucous music. I tell you, modern accountancy has lost all its medieval allure.
Published by Matthew Davidson on Wed, 29/03/2017 - 8:18pm
@strypey I think it was #Graeber (& surely others) who noted that, historically, money as a unit of account is a trust relation (you don't take an IOU from someone you don't trust), but coins are for dealing with strangers.