星期三, 四月 23, 2008

I get nothing to do with "Monetary Theory"

This is my comment on "I still hate monetary theory" by Arnold Kling.

First of all, I should say I cannot agree Kling any more on this point. But I still want to add some more about my view.

MV=PY is nothing but an equation. If you say this is monetary theory, I think you are bit weird.

Yes, credit card is not cash money in some way. But are we clear that monetary theory is on money, or credit?

Yes again, it is credit, not just money. But why need a label like "Austro-Keynesian"?

We need some hard-ground to fight stupid label things such as "Monetary Theory". But do you really need create another label to different ourselves, not just suck on the key point of the proposition?

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