tag:blogger.com,1999:blog-4644418472886415157.post203825137387543979..comments2024-03-15T00:14:16.082-07:00Comments on Reviving Economics: Excess Demand for MoneyGarth A Brazeltonhttp://www.blogger.com/profile/15769889043950844781noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-4644418472886415157.post-11016291666333928682014-11-14T18:58:10.602-08:002014-11-14T18:58:10.602-08:00hollister, herve leger, canada goose, insanity wor...<a href="http://www.hollister-abercrombie.es/" rel="nofollow">hollister</a>, <a href="http://www.herveleger.in.net/" rel="nofollow">herve leger</a>, <a href="http://www.canadagoose-jackets.ca/" rel="nofollow">canada goose</a>, <a href="http://www.insanityworkouts.in.net/" rel="nofollow">insanity workout</a>, <a href="http://www.cheapnfljersey-outlet.com/" rel="nofollow">nfl jerseys</a>, <a href="http://www.canadagoose.in.net/" rel="nofollow">canada goose</a>, <a href="http://www.soccerjerseys.in.net/" rel="nofollow">soccer jerseys</a>, <a 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Well thought out
ideas:) Found this here on e...Wow!<br />Well thought out<br />ideas:) Found this here on econrevival.blogspot.com [url=http://easyrvoutdoors.com]RVs[/url]Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4644418472886415157.post-11470626996012904942010-12-14T15:24:45.300-08:002010-12-14T15:24:45.300-08:00You know that, for now, I accept chartalists argum...You know that, for now, I accept chartalists arguments.Because of this I will attempt to avoid discussion of this longstanding argument and focus on new issues brought up by your posts. on the excess reserve point however, I will point you to post-keynesian arguments that the level of reserves have no effect on loan generation and thus can't be a critique of fiscal policy. On essentially austrian point, i would like to question the logic. it is indisputable that recessions often curtail the amount of loan generation in the economy and "simplify" balance sheets (minsky's term). traditional fiscal stabilizers have stabilized the economy at the cost of preserving webs of complicated debt instruments. However, does this mean that this system is worse then the pro-cyclical one? i don't think so. webs of debt collapsed quickly during long lasting recessions and depressions but developed even faster during booms. the post war period seems to have generated much more successful policy outcomes then the pro cyclical period. simple "keynesian" prime-pumping in the absence of credit constraining regulation (private or public) will of course become highly inflationary or make the next bust even more painful. i don't think, however, that this means we should just throw up our hands, declare recessions necessary and go home. Full employment is certainly possible and the difficulty of constraining financial innovation and large jumps is a climbable obstacle.Nathan Tankushttps://www.blogger.com/profile/16298104991209885385noreply@blogger.comtag:blogger.com,1999:blog-4644418472886415157.post-58716147635195804782010-12-14T14:50:50.319-08:002010-12-14T14:50:50.319-08:00I should also say that my second point was that th...I should also say that my second point was that this "problem" may not be a problem in the first place but may be a necessary condition (as I think Arnold Kling was trying to point out) for the economy reset from the excesses of the past.Garth A Brazeltonhttps://www.blogger.com/profile/15769889043950844781noreply@blogger.comtag:blogger.com,1999:blog-4644418472886415157.post-42698570564356997102010-12-14T14:20:58.884-08:002010-12-14T14:20:58.884-08:00my point wasn't/isn't to prove it doesn...my point wasn't/isn't to prove it doesn't exist - but to point out that it is a symptom of the problem and not in an of itself a cause of the problem. IE, money is not the problem and therefore it is not the solution either in the long-run. Pumping more money into the equation to meet the excess demand is not a solid solution as the fact that excess reserves are now ridiculously high plainly shows.Garth A Brazeltonhttps://www.blogger.com/profile/15769889043950844781noreply@blogger.comtag:blogger.com,1999:blog-4644418472886415157.post-69393158555965251592010-12-14T12:36:53.556-08:002010-12-14T12:36:53.556-08:00I feel like i'm missing something. all it seem...I feel like i'm missing something. all it seems you've done in this post is show why there is excess demand for money, not prove that it doesn't exist. sure too much bank money has been created over the past 5 decades; i agree. that doesn't disprove the excess demand for money idea or that policy can meet that "excess" demand.Nathan Tankushttps://www.blogger.com/profile/16298104991209885385noreply@blogger.com