#22 - Conversation with Derek McDaniel

AppliedMMT Podcast

In this episode, Derek McDaniel (@ratedisparity) joins Adam, Derek, and Ryan to discuss:

• Derek's Background: Transition from academics in mathematics and computer science to exploring economics and MMT.
• Journey into MMT: Early exposure to Austrian economics, online debates, and realization about the national debt.
• Current Stance on MMT: Emphasis on separating MMT into independent propositions like endogenous money, government finance, and price anchoring.
• Discussion on Endogenous Money: Explanation of endogenous money as creation of transaction mediums and the role of credit.
• Concept of Eurodollars: Exploration of Eurodollars and their impact on the economy.
• Rate Disparity in the Economy: Analysis of the wide range of wages and the implications of interest rates on inflation and economic cycles.
• Adaptive Equilibrium and Ecological Cycles: Connection between ecological cycles and economic cycles.
• Central Bank Policies and Econometrics: Challenges of interpreting central bank policies and skepticism about statistical models in economics.
• Interpreting Inflation Data: Discussion on the complexities of interpreting inflation data and economic policies.
• Turkey's Economic Situation: Brief discussion on Turkey's economy, neo-Fisherism, and the challenges in economic data interpretation.
• Public Understanding of MMT: Insights into the public's perception of MMT and the role of public finance.

Find more from Derek on Twitter and his website, ratedisparity.com.

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