I understand the money multiplier now. I was merely stating what I was taught not what I now know. Thank you.
Yes, I understand and understood it when I wrote my previous post . I was simply restating that I had thought earlier that the money multiplier was the fiscal multiplier. Thank you.
I misunderstood what someone said. Again, I thought (at the time of starting this thread) that the money multiplier was the exchange of currency (which I must repeat is something I know longer believe) and when an Austrian rejected it I thought they were rejecting the exchange of currency.
I had nothing in mind that is why I asked the question.
I read the pages of the book The Failure of the New Economics. I’m going to type a response later.