Austrian Economics vs Modern Monetary Theory

Skip navigation #headerOverlay{ color: #ccd6df; font-size:11px; line-height:130%; } #headerOverlay strong{ color: #ffd226; } #headerOverlay a {color:#ccd6df;text-decoration:none;} #headerOverlay a:hover {color:#ffd226;} #headerOverlay a:visited {color:#ccd6df;} #headerOverlay a:visited:hover {color:#ffd226;} Live Interview at 8:45 AM ETMitt RomneySymbol Lookup onloadAutoSuggest(); var pgValue = "CNBSEB"; var cmsKeyWord = "alternative investing"; var cmsNewPG = "CNBWAB"; if ((cmsKeyWord.length > 0) && (cmsNewPG.length > 0)) { var newPG = cmsNewPG.split(';'); var group = cmsKeyWord.split(';'); if (newPG.length == group.length) { var description = cnbc_pagedesc.toLowerCase(); for(var x = 0; x < group.length; x++) { var keyWord = group[x].split('|'); for (var j = 0; j < keyWord.length; j++) { if (description.indexOf(keyWord[j].toLowerCase()) != -1) { pgValue = newPG[x]; j = keyWord.length; x = group.length; }}}}} if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(88,31,pgValue); } else { dapMgr.enableACB("SearchBox88x31",false); dapMgr.renderAd("SearchBox88x31","&PG=" + pgValue + "&AP=1071&PN=CNBC",88,31); } cnbc_displayUsername("cnbc_usertime","cnbc_username");RegisterSign InMember CenterSign OutRegistercnbc_toggleUserState();HOMENEWSMARKETSEARNINGSINVESTINGSMALL BUSINESSVIDEOCNBC TVCNBC PROU.S.Asia-PacificEuropeEconomyEnergyPoliticsTechnologyBlogsSlideshowsSpecial Reports if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(728,90,"CNBGE7"); } else { dapMgr.enableACB("USNewsBlogs728",false); dapMgr.renderAd("USNewsBlogs728","&PG=CNBGE7&AP=1390&PN=CNBC",728,90); } NetWe don't need no stinkin' dividends... var cnbcSubHeaderId = document.getElementById('subheader_'+ 38911124); cnbcSubHeaderId.innerHTML = document.getElementById('renderReaderContent').innerHTML; Current DateTime: 11:25:51 06 Mar 2012LinksList Documentid: 45166246The Buckaroo and the Demand for Money cnbc_commentCountMapObj.cnbc_commentCountMap_put("46314208", "45166246_1","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46314208", "45166246_1","cnbcCommentsTxt" ); Is Warren Buffett's Berkshire Hathaway Losing Its Edge? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46560984", "45166246_2","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46560984", "45166246_2","cnbcCommentsTxt" ); Bill Gross: It's Time to Play Defense cnbc_commentCountMapObj.cnbc_commentCountMap_put("46556889", "45166246_3","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46556889", "45166246_3","cnbcCommentsTxt" ); College Flunks Four Times; Eliminates Tuition cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310825", "45166246_4","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310825", "45166246_4","cnbcCommentsTxt" ); New York Housing Market Could Still Collapse: Analyst cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310822", "45166246_5","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46310822", "45166246_5","cnbcCommentsTxt" ); Does Germany Want Greece to Default? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46382809", "45166246_6","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46382809", "45166246_6","cnbcCommentsTxt" ); Greek Default: Why Now May Be Best Time to Do It cnbc_commentCountMapObj.cnbc_commentCountMap_put("46281928", "45166246_7","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46281928", "45166246_7","cnbcCommentsTxt" ); What Germans Really Think About the Greeks cnbc_commentCountMapObj.cnbc_commentCountMap_put("45957341", "45166246_8","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("45957341", "45166246_8","cnbcCommentsTxt" ); Why the Social Security Tax Fight Is Stupid cnbc_commentCountMapObj.cnbc_commentCountMap_put("45668349", "45166246_9","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("45668349", "45166246_9","cnbcCommentsTxt" ); if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(300,900,"CNBGE3"); } else { dapMgr.enableACB("USNewsBlogs300x250",false); dapMgr.renderAd("USNewsBlogs300x250","&PG=CNBGE3&AP=&PN=CNBC",300,900); } Current DateTime: 11:35:36 06 Mar 2012LinksList Documentid: 38910464Expiration DateTime: 3/6/2012 11:36:44 PM cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910464_1","cnbcCommentsTxt" ); MMT and Austrian Economics Walk Into a Bar... cnbc_commentCountMapObj.cnbc_commentCountMap_put("46646219", "38910464_1","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46646219", "38910464_1","cnbcCommentsTxt" ); Wall Street Fears Manhattan Madame's Black Book cnbc_commentCountMapObj.cnbc_commentCountMap_put("46644122", "38910464_2","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46644122", "38910464_2","cnbcCommentsTxt" ); Super Tuesday and the Republican Disaster cnbc_commentCountMapObj.cnbc_commentCountMap_put("46640441", "38910464_3","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46640441", "38910464_3","cnbcCommentsTxt" ); The Latest Wall Street Scam: Free Beer cnbc_commentCountMapObj.cnbc_commentCountMap_put("46632217", "38910464_4","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46632217", "38910464_4","cnbcCommentsTxt" ); Social Security, the Financial Crisis & Modern Monetary Theory cnbc_commentCountMapObj.cnbc_commentCountMap_put("46628940", "38910464_5","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46628940", "38910464_5","cnbcCommentsTxt" ); Knife-Wielding Morgan Stanley Bond Guy: I Was Abducted! cnbc_commentCountMapObj.cnbc_commentCountMap_put("46608379", "38910464_6","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46608379", "38910464_6","cnbcCommentsTxt" ); Rush to Judgment: The Knife-Wielding Morgan Stanley Exec cnbc_commentCountMapObj.cnbc_commentCountMap_put("46608377", "38910464_7","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46608377", "38910464_7","cnbcCommentsTxt" ); Wall Street's Commodities War cnbc_commentCountMapObj.cnbc_commentCountMap_put("46607171", "38910464_8","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46607171", "38910464_8","cnbcCommentsTxt" ); Tim Geithner Has His Blinders On: Steve Crawford cnbc_commentCountMapObj.cnbc_commentCountMap_put("46606173", "38910464_9","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46606173", "38910464_9","cnbcCommentsTxt" ); Hidden Tax US Companies Pay In Chinese Transactions cnbc_commentCountMapObj.cnbc_commentCountMap_put("46596847", "38910464_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46596847", "38910464_10","cnbcCommentsTxt" ); More on Saving (Note: This Gets Wonkish) cnbc_commentCountMapObj.cnbc_commentCountMap_put("46590791", "38910464_11","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46590791", "38910464_11","cnbcCommentsTxt" ); Will Allen Stanford Walk? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46579893", "38910464_12","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46579893", "38910464_12","cnbcCommentsTxt" ); Accounting Identity Errors and MMT cnbc_commentCountMapObj.cnbc_commentCountMap_put("46579498", "38910464_13","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46579498", "38910464_13","cnbcCommentsTxt" ); Paul Krugman: Bond Vigilante? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46578590", "38910464_14","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46578590", "38910464_14","cnbcCommentsTxt" ); MMT, Deficits and Savings: The Babysitting Model cnbc_commentCountMapObj.cnbc_commentCountMap_put("46573742", "38910464_15","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46573742", "38910464_15","cnbcCommentsTxt" ); Stuff We Missed: Tuesday February 28th cnbc_commentCountMapObj.cnbc_commentCountMap_put("46563260", "38910464_16","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46563260", "38910464_16","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910464_1","cnbcCommentsTxt" ); Email: document.write("");document.write("NetNet"+"@"+"cnbc.com");document.write('');Call: 201-735-4638Text Message: 917-740-8477 Current DateTime: 11:23:14 06 Mar 2012LinksList Documentid: 39085620FacebookTwitterRSSCurrent DateTime: 11:25:51 06 Mar 2012LinksList Documentid: 38852222John Carney

Runs this joint.

Jeff Cox

A senior writer for CNBC.com, covering the gamut of issues affecting the stock market and the economy.

Stephanie Landsman

Squawk Boxer Rebel.

Lori Spechler

A Senior Editor at CNBC, commodity trader in a former life.

Lori Ann LaRocco

A Senior Talent Producer at CNBC.

Current DateTime: 11:25:51 06 Mar 2012LinksList Documentid: 43730562The Faces of 'Occupy Wall Street'

Occupy Wall Street has attracted people from all backgrounds.

The Greatest Trades of All Time

The following list of people showcases some of the greatest trades in the business.

Rogue Trading: A How-To Guide

There's a surprisingly consistent pattern to all these rogue traders.

25 Things Every Wall Street Intern Should Know

Some words of wisdom for all the Wall Street Interns this summer.

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setDefault('cnbc_textbody');MMT and Austrian Economics Walk Into a Bar...Published: Tuesday, 6 Mar 2012 | 6:20 PM ET Text Size By: John CarneySenior Editor, CNBC.com #divButtons .gig-button-container-facebook-like {margin-right:-2px;} #divButtons .gig-button-container-twitter {margin-right:15px;} #divButtons .gig-button-container-google-plusone {margin-right:-16px;} #divButtons .gig-button-container-linkedin {margin-right:17px;} var params ={ userAction:ua, shareButtons: [{provider:'facebook-like',action:'recommend'},{provider:'twitter'},{provider:'google-plusone'},{provider:'linkedin'},{provider:'share',enableCount:false}], containerID: 'divButtons'} if (navigator.userAgent.indexOf("MSIE 6") 0) && (cmsNewPG.length > 0)) { var newPG = cmsNewPG.split(';'); var group = cmsKeyWord.split(';'); if (newPG.length == group.length) { var description = cnbc_pagedesc.toLowerCase(); for(var x = 0; x < group.length; x++) { var keyWord = group[x].split('|'); for (var j = 0; j < keyWord.length; j++) { if (description.indexOf(keyWord[j].toLowerCase()) != -1) { pgValue = newPG[x]; j = keyWord.length; x = group.length; }}}}} if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(88,31,pgValue); } else { dapMgr.enableACB("SearchBox88x31",false); dapMgr.renderAd("SearchBox88x31","&PG=" + pgValue + "&AP=1071&PN=CNBC",88,31); } cnbc_displayUsername("cnbc_usertime","cnbc_username");RegisterSign InMember CenterSign OutRegistercnbc_toggleUserState();HOMENEWSMARKETSEARNINGSINVESTINGSMALL BUSINESSVIDEOCNBC TVCNBC PROU.S.Asia-PacificEuropeEconomyEnergyPoliticsTechnologyBlogsSlideshowsSpecial Reports if (cnbc_DARTFlag=="new") { cnbc_DARTAdCall(728,90,"CNBGE7"); } else { dapMgr.enableACB("USNewsBlogs728",false); dapMgr.renderAd("USNewsBlogs728","&PG=CNBGE7&AP=1390&PN=CNBC",728,90); } NetWe don't need no stinkin' dividends... var cnbcSubHeaderId = document.getElementById('subheader_'+ 38911124); cnbcSubHeaderId.innerHTML = document.getElementById('renderReaderContent').innerHTML; Current DateTime: 11:25:51 06 Mar 2012LinksList Documentid: 45166246The Buckaroo and the Demand for Money cnbc_commentCountMapObj.cnbc_commentCountMap_put("46314208", "45166246_1","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46314208", "45166246_1","cnbcCommentsTxt" ); Is Warren Buffett's Berkshire Hathaway Losing Its Edge? 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cnbc_commentCountMapObj.cnbc_commentCountMap_put("46579893", "38910464_12","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46579893", "38910464_12","cnbcCommentsTxt" ); Accounting Identity Errors and MMT cnbc_commentCountMapObj.cnbc_commentCountMap_put("46579498", "38910464_13","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46579498", "38910464_13","cnbcCommentsTxt" ); Paul Krugman: Bond Vigilante? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46578590", "38910464_14","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46578590", "38910464_14","cnbcCommentsTxt" ); MMT, Deficits and Savings: The Babysitting Model cnbc_commentCountMapObj.cnbc_commentCountMap_put("46573742", "38910464_15","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46573742", "38910464_15","cnbcCommentsTxt" ); Stuff We Missed: Tuesday February 28th cnbc_commentCountMapObj.cnbc_commentCountMap_put("46563260", "38910464_16","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46563260", "38910464_16","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910464_1","cnbcCommentsTxt" ); Email: document.write("");document.write("NetNet"+"@"+"cnbc.com");document.write('');Call: 201-735-4638Text Message: 917-740-8477 Current DateTime: 11:23:14 06 Mar 2012LinksList Documentid: 39085620FacebookTwitterRSSCurrent DateTime: 11:25:51 06 Mar 2012LinksList Documentid: 38852222John Carney

Runs this joint.

Jeff Cox

A senior writer for CNBC.com, covering the gamut of issues affecting the stock market and the economy.

Stephanie Landsman

Squawk Boxer Rebel.

Lori Spechler

A Senior Editor at CNBC, commodity trader in a former life.

Lori Ann LaRocco

A Senior Talent Producer at CNBC.

Current DateTime: 11:25:51 06 Mar 2012LinksList Documentid: 43730562The Faces of 'Occupy Wall Street'

Occupy Wall Street has attracted people from all backgrounds.

The Greatest Trades of All Time

The following list of people showcases some of the greatest trades in the business.

Rogue Trading: A How-To Guide

There's a surprisingly consistent pattern to all these rogue traders.

25 Things Every Wall Street Intern Should Know

Some words of wisdom for all the Wall Street Interns this summer.

Current DateTime: 11:34:02 06 Mar 2012LinksList Documentid: 38910635Expiration DateTime: 3/6/2012 11:36:35 PM cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910635_1","cnbcCommentsTxt" ); Super Tuesday: Romney Wins Ohio but Fails to Shake Rivals cnbc_commentCountMapObj.cnbc_commentCountMap_put("46646741", "38910635_1","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46646741", "38910635_1","cnbcCommentsTxt" ); European Markets Seen Lower on Greece Worries cnbc_commentCountMapObj.cnbc_commentCountMap_put("46650032", "38910635_2","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46650032", "38910635_2","cnbcCommentsTxt" ); Analysis: Romney Must Ease Independents' Concerns cnbc_commentCountMapObj.cnbc_commentCountMap_put("46649609", "38910635_3","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46649609", "38910635_3","cnbcCommentsTxt" ); Super Tuesday Exit Polls: Economy Is Key Issue cnbc_commentCountMapObj.cnbc_commentCountMap_put("46647825", "38910635_4","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46647825", "38910635_4","cnbcCommentsTxt" ); Gingrich Wins Georgia, Predicts 3rd Comeback cnbc_commentCountMapObj.cnbc_commentCountMap_put("46648266", "38910635_5","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46648266", "38910635_5","cnbcCommentsTxt" ); Political Extremists Boost Clout Amid Europe's Downturn cnbc_commentCountMapObj.cnbc_commentCountMap_put("46626430", "38910635_6","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46626430", "38910635_6","cnbcCommentsTxt" ); Thousands of Foreclosures Finally Head for Resolution cnbc_commentCountMapObj.cnbc_commentCountMap_put("46641784", "38910635_7","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46641784", "38910635_7","cnbcCommentsTxt" ); Buy Apple Stock or a House? There's Really No Contest cnbc_commentCountMapObj.cnbc_commentCountMap_put("46641431", "38910635_8","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46641431", "38910635_8","cnbcCommentsTxt" ); Is This Stock Correction the Start of Something Bigger? cnbc_commentCountMapObj.cnbc_commentCountMap_put("46646974", "38910635_9","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("46646974", "38910635_9","cnbcCommentsTxt" ); The World's Biggest Oil Reserves cnbc_commentCountMapObj.cnbc_commentCountMap_put("33550165", "38910635_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("33550165", "38910635_10","cnbcCommentsTxt" ); cnbc_commentCountMapObj.cnbc_commentCountMap_put("", "38910635_1","cnbcCommentsTxt" ); » HelpCurrent DateTime: 11:25:51 06 Mar 2012LinksList Documentid: 38851925Subscribe to this RSS feed

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setDefault('cnbc_textbody');MMT and Austrian Economics Walk Into a Bar...Published: Tuesday, 6 Mar 2012 | 6:20 PM ET Text Size By: John CarneySenior Editor, CNBC.com #divButtons .gig-button-container-facebook-like {margin-right:-2px;} #divButtons .gig-button-container-twitter {margin-right:15px;} #divButtons .gig-button-container-google-plusone {margin-right:-16px;} #divButtons .gig-button-container-linkedin {margin-right:17px;} var params ={ userAction:ua, shareButtons: [{provider:'facebook-like',action:'recommend'},{provider:'twitter'},{provider:'google-plusone'},{provider:'linkedin'},{provider:'share',enableCount:false}], containerID: 'divButtons'} if (navigator.userAgent.indexOf("MSIE 6") Read Full Article »


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