Perry Mehrling’s money view framework is an economics that is grounded in the tradition of American institutional economics, and I would say, in the broader tradition of political economy. But also in the real practices of countercyclical policy intervention, drawing on the writings of actual central bankers. It allows us to generalize beyond Keynesian versus free market approaches to economics.
Perry Mehrling’s macroeconomic framework is by far the most approachable way to understand the international banking & financial system. Having this approach available is important in being able to have an adequate public dialogue on the economy.
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