: Mitchell argues that fiscal policy should not be aimed at achieving a balanced budget but at meeting social goals like full employment and price stability.
Mitchell also argues that mainstream macroeconomics has been influenced by a flawed understanding of the nature of money and the banking system. He contends that the banking system is not simply an intermediary between savers and borrowers but rather a creator of credit and money.
: Mitchell argues that fiscal policy should not be aimed at achieving a balanced budget but at meeting social goals like full employment and price stability.
Mitchell also argues that mainstream macroeconomics has been influenced by a flawed understanding of the nature of money and the banking system. He contends that the banking system is not simply an intermediary between savers and borrowers but rather a creator of credit and money. macroeconomics william mitchell pdf