An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Wynne Godley would have been happy – had he been alive and known that Carney is perhaps the only central banker to have recognized his foresight.
Ramanan,If he recognizes Godley's work that's certainly an encouraging sign.The fact that he worked for Goldman Sachs for 13 years is perhaps another positive omen. It likely means he has a very good grasp of how the banking system really works, as opposed to the fantasy BS generally taught at so-called top economics schools.Plus,GS is also the institution where Jan Hatzius, another Godley fan, works. Make that two guys at leading organizations who pay due tribute to the sectoral balances approach. Great news, indeed. Of course, knowing how it works doesn't mean he'll necessarily do the right things. But at least he'll understand the language used by the PK school, including those of the MMT persuasion. What is there to complain about, then?
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