by Summary:
The echo chamber. One school of thought that’s been the focus of strenuous debate, known as Modern Monetary Theory (MMT), holds that worries about increases in public debt are misplaced, and that the federal government can easily take on much larger spending in some key areas without raising revenues through higher taxes. But at least one progressive policy wonk has his doubts about that increasingly popular approach. Matt Bruenig of the People's Policy Project accuses MMT supporters of “using word games to make people believe that the US can have Northern European levels of government spending without Northern European levels of taxation.” No model. "Proof" by chart. Et non est ostensum est, quod demonstrandum instead of QED.The Financial TimesChart of the Day: High Tax, High Service
Topics:
Mike Norman considers the following as important: Matt Bruenig, MMT, MMT criticism, MMT critics
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The echo chamber. One school of thought that’s been the focus of strenuous debate, known as Modern Monetary Theory (MMT), holds that worries about increases in public debt are misplaced, and that the federal government can easily take on much larger spending in some key areas without raising revenues through higher taxes. But at least one progressive policy wonk has his doubts about that increasingly popular approach. Matt Bruenig of the People's Policy Project accuses MMT supporters of “using word games to make people believe that the US can have Northern European levels of government spending without Northern European levels of taxation.” No model. "Proof" by chart. Et non est ostensum est, quod demonstrandum instead of QED.The Financial TimesChart of the Day: High Tax, High Service
Topics:
Mike Norman considers the following as important: Matt Bruenig, MMT, MMT criticism, MMT critics
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
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Michael Hudson writes International Trade and MMT with Keen, Hudson
The echo chamber.
One school of thought that’s been the focus of strenuous debate, known as Modern Monetary Theory (MMT), holds that worries about increases in public debt are misplaced, and that the federal government can easily take on much larger spending in some key areas without raising revenues through higher taxes. But at least one progressive policy wonk has his doubts about that increasingly popular approach. Matt Bruenig of the People's Policy Project accuses MMT supporters of “using word games to make people believe that the US can have Northern European levels of government spending without Northern European levels of taxation.”No model. "Proof" by chart. Et non est ostensum est, quod demonstrandum instead of QED.
The Financial Times
Chart of the Day: High Tax, High Service
Michael Rainey