"first inflation targeting doesn't work." But Nathan there were certainly many post Keynesian economists who complained that it did work all too well.
They complained that inflation was kept under control at the expense of job growth and even the stability of the financial sector. See for example Ha-Joon Chang. As for Henwood, I am pretty sure that he has declared himself a hard money Marxist in response to Yglesias' call for a 4% inflation target; some sharp questions as to whether inflation would work have been raised by Raghuram Rajan at his blog. Graeber seems to wants debts restructured, cancelled, repudiated presumably so bourgeois society can get a fresh start. LR
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