发帖
雷达卡
“One of the brightest minds in finance.” CNBC (6/11/10)
“Warren Mosler is one of the most original and clear-eyed
participants in today’s debates over economic policy.”
JAMES GALBRAITH, FORMER EXECUTIVE DIRECTOR, JOINT ECONOMIC
COMMITTEE AND PROFESSOR, THE UNIVERSITY OF TEXAS - AUSTIN
“I can say without hesitation that Warren Mosler has had the most
profound impact on our understanding of modern money and government
budgets of anyone I know or know of, including Nobel Prize winners,
Central Bank Directors, Ministers of Finance and full professors at
Ivy League Universities. It is no exaggeration to say that his ideas
concerning economic theory and policy are responsible for the most
exciting new paradigm in economics in the last 30 years - perhaps longer
- and he has inspired more economists to turn their attention to the real
world of economic policy than any other single individual.”
DR. MATTHEW FORSTATER, PROFESSOR OF ECONOMICS, UNIVERSITY
OF MISSOURI - KANSAS CITY
“Warren is one of the rare individuals who understand money and
finance and how the Treasury and the Fed really work. He receives
information from industry experts from all over the world.”
WILLIAM K. BLACK, ASSOCIATE PROFESSOR OF ECONOMICS & LAW,
UNIVERSITY OF MISSOURI - KANSAS CITY
“He [Warren Mosler] represents a rare combination: someone who
combines an exceptional knowledge of finance with the wisdom and
compassion required to get us an array of policies that will bring us
back to sustainable full employment.”
MARSHALL AUERBACK, GLOBAL PORTFOLIO STRATEGIST, RAB
CAPITAL AND FELLOW, ECONOMISTS FOR PEACE & SECURITY
“In this book, Warren Mosler borrows John Kenneth Galbraith’s
notion of ‘innocent fraud’ and identifies seven of the most
destructive yet widely held myths about the economy. Like
Galbraith, Mosler chooses to accept the possibility that the fraud
is unintentionial, resulting from ignorance, misunderstanding or,
most likely, from application of the wrong economic paradigm to
our real world economy. To put it as simply as possible, many of the
most dangerous beliefs about the way the economy functions would
have some relevance if the U.S. were on a strict gold standard. Yet,
obviously, the U.S. dollar has had no link whatsoever to gold since
the break-up of the Bretton Woods system.
So what are the deadly (yet perhaps innocent) frauds? First,
government finance is supposed to be similar to household finance:
government needs to tax and borrow first before it can spend.
Second, today’s deficits burden our grandchildren with government
debt. Third, worse, deficits absorb today’s saving. Fourth, Social
Security has promised pensions and healthcare that it will never
be able to afford. Fifth, the U.S. trade deficit reduces domestic
employment and dangerously indebts Americans to the whims of
foreigners - who might decide to cut off the supply of loans that we
need. Sixth, and related to fraud number three, we need savings to
finance investment (so government budgets lead to less investment).
And, finally, higher budget deficits imply taxes will have to be higher
in the future - adding to the burden on future taxpayers.
Mosler shows that whether or not these beliefs are innocent,
they are most certainly wrong. Again, there might be some sort of
economy in which they could be more-or-less correct. For example,
in a nonmonetary economy, a farmer needs to save seed corn to
‘invest’ it in next year’s rop. On a gold standard, a government
really does need to tax and borrow to ensure it can maintain a fixed
exchange rate. And so on. But in the case of nonconvertible currency
(in the sense that government does not promise to convert at a fixed
exchange rate to precious metal or foreign currency), none of these
myths holds. Each is a fraud.
The best reason to read this book is to ensure that you can
recognize a fraud when you hear one. And in his clear and precise
style. Mosler will introduce you to the correct paradign to develop
an understanding of the world in which we actually live.”
L. RANDALL WRAY, PROFESSOR OF ECONOMICS, UNIVERSITY OF
MISSOURI - KANSAS CITY, RESEARCH DIRECTOR, CENTER FOR
FULL EMPLOYMENT & PRICE STABILITY, SENIOR SCHOLAR, LEVY
ECONOMICS INSTITUTE, AUTHOR OF UNDERSTANDING MODERN
MONEY, THE KEY TO FULL EMPLOYMENT AND PRICE STABILITY AND
EDITOR, CREDIT AND STATE THEORIES OF MONEY: THE CONTRIBUTIONS
OF A. MITCHELL INNES
京公网安备 11010802022788号
