Academic Agent - Superimperialism

[Joe Leote]

Academic Agent compares Austrian school with Chicago school of economics:

https://youtu.be/s5Kx6-nyVkk

Academic Agent talks about Michael Hudson's theory/book Super Imperialism:

https://youtu.be/Gn0MpidIxSs

I think the theory of Super Imperialism is consistent with Modern Monetary Theory. But in this long video Academic Agent and two other Austrian thinkers try to debunk MMT:

https://youtu.be/qnxtX-pL1dU

In macroeconomics the question is how to promote full employment and price stability. The Austrian school thinks the government's only role is to regulate contracts under the rule of law and otherwise let the markets allocate jobs, interest rates, credit, debt, etc. Chicago school holds inflation is caused by monetarism. The Keynesian school holds that aggregate demand is often insufficient to sustain full employment unless the government engages in deficit spending and the markets cannot provide price stability so the government develops institutions like the Treasury and Central Bank to help sustain aggregate demand and to provide price stability.

Joe