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Cantillon Effects - latest commentary

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Unconventional Wisdom and Original Thinking MMT - or Modern Monetary Theory - has resurfaced as one of those Gee Whiz ideas that its proponents imagine will solve all our social and economic problems in one fell swoop. Here I explain what it is really all about and why it might nt be such a great idea, after all.

Unconventional Wisdom and Original Thinking MMT - or Modern Monetary Theory - has resurfaced as one of those Gee Whiz ideas that its proponents imagine will solve all our social and economic problems in one fell swoop. Here I explain what it is really all about and why it might nt be such a great idea, after all.
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Location:

Switzerland

Description:

Unconventional Wisdom and Original Thinking MMT - or Modern Monetary Theory - has resurfaced as one of those Gee Whiz ideas that its proponents imagine will solve all our social and economic problems in one fell swoop. Here I explain what it is really all about and why it might nt be such a great idea, after all.

Twitter:

@CantillonCH

Language:

English


Episodes

Cantillon Effects: Consuming Folly Pt I

4/25/2019
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We often talk of consumers as those 'driving the economy' or of representing its largest component. Official policy is usually aimed at stimulating as much consumption as possible, usually through forcing the interest rate lower in order to encourage borrowing. But does the concept make any sense and does that policy do more harm than good? Part 1 of 2.

Duration:00:14:48

Consuming Folly Pt II

4/25/2019
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We continue on from the first episode to look more closely at the difficulties which arise when the interest rate is not left to co-ordinate consumption and production through time and to direct the necessary capital formation as it is undertaken by entrepreneurs. We end with a summary of the main conclusions to be drawn.

Duration:00:19:00

19 - 04 - 15 DuckHunting

4/15/2019
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In the latest 'Cantillon Effects', I take a non-too favourable look at two plainly interlinked economic canards: the concept of the Consumer-with-a-Capital-C and the circus that is MMT

Duration:00:11:54

19-04-09 The Man Who Would Be King

4/9/2019
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Ray Dalio is currently popping up everywhere to tell us how to right the wrongs from which he imagines society is suffering. But, to the extent they are actually given more than the vaguest form, his thoughts express little more than the vanity of a man who fondly imagines his undoubted success in his own, narrow field of expertise gives him something useful to say on wider matters of concern.

Duration:00:09:17

19-03-28 Behind the Curve

3/28/2019
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The phrase on everyone's lips at the moment is 'yield curve' - largely for its supposedly unerring ability to predict a recession if not, as its most extreme devotees seem to imply, actually to cause one. But is that a valid interpretation of what is afoot in financial markets today and does that jibe with how the real economy is developing? Listen to hear our thoughts on the matter. You may well be surprised...

Duration:00:20:24

Flying Pigs

2/6/2019
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Here in the new Chinese Year of the Pig, we find ourselves surrounded by much madness, cultural, political, and - of course - financial. Old errors and past failures are being dusted off and burnished up, ready to be repeated. THIS time it will be different, we are told - but only if some of those pigs first learn to fly

Duration:00:16:08

19-01-23 MMT Debunked

1/23/2019
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MMT has recently enjoyed a sudden resurgence in popularity. but, like so many other systems which claim to reveal previously undiscovered truths, it turns out to be nothing more than a retread of a number of age-old fallacies, only appealing because it seems to promise the Provider State unlimited power to interfere in our lives. We discuss its failings here.

Duration:00:11:48