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Lives and livelihoods

February 19, 2012

This article represents something of a breakthrough in a number of ways, being titled Modern Monetary Theory, an unconventional take on economic strategy in the Washington Post. Lives and livelihoods depend on our leaders getting this right. So it is good to read that there is a popular surge of interest in economics in the blogosphere, along with a resurgence of Keynesian economics and an appreciation of the factual analysis that goes with it. Another thing: this stuff is really not that complicated, though it lends itself to being made so by the misuse of mathematics. Economics is closer to everyday reasoning than many other things we all tend to know about in various degrees of detail, like what’s under the hood of our cars, for example. A widespread understanding of the basics is likewise vital to survival.

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