by Summary:
The second article in this series deals with Modern Monetary Theory’s (MMT) predictive and policy successes. The article has three, separately published, parts. Part 2A deals explains why predictive ability and policy success are so critical – and notes that MMT’s critics have been conspicuously unable to provide a record of predictive failure by MMT scholars. Part 2B deals with MMT successes in microeconomics. The MMT work on microeconomics constitutes a powerful refutation of the ‘microfoundations’ of ‘modern macroeconomics.’ The key characteristics that the MMT theorists have demonstrated dramatically superior predictive ability, particularly in the most important microfoundation issues of the last 70 years. In the microfoundations context, MMT scholars have also demonstrated
Topics:
Mike Norman considers the following as important: critics, MMT, MMT criticism
This could be interesting, too:
The second article in this series deals with Modern Monetary Theory’s (MMT) predictive and policy successes. The article has three, separately published, parts. Part 2A deals explains why predictive ability and policy success are so critical – and notes that MMT’s critics have been conspicuously unable to provide a record of predictive failure by MMT scholars. Part 2B deals with MMT successes in microeconomics. The MMT work on microeconomics constitutes a powerful refutation of the ‘microfoundations’ of ‘modern macroeconomics.’ The key characteristics that the MMT theorists have demonstrated dramatically superior predictive ability, particularly in the most important microfoundation issues of the last 70 years. In the microfoundations context, MMT scholars have also demonstrated
Topics:
Mike Norman considers the following as important: critics, MMT, MMT criticism
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
The second article in this series deals with Modern Monetary Theory’s (MMT) predictive and policy successes. The article has three, separately published, parts. Part 2A deals explains why predictive ability and policy success are so critical – and notes that MMT’s critics have been conspicuously unable to provide a record of predictive failure by MMT scholars.
Part 2B deals with MMT successes in microeconomics. The MMT work on microeconomics constitutes a powerful refutation of the ‘microfoundations’ of ‘modern macroeconomics.’ The key characteristics that the MMT theorists have demonstrated dramatically superior predictive ability, particularly in the most important microfoundation issues of the last 70 years. In the microfoundations context, MMT scholars have also demonstrated exceptional policy success.
Part 2C deals with macroeconomics. Again, MMT scholars’ predictive success has been excellent. Equally important, MMT scholars have demonstrated their predictive successes in the most important macroeconomic issues of our lives....New Economic Perspectives
MMT Scholars’ Predictive and Policy Successes – Part A
William K. Black | Associate Professor of Economics and Law, UMKC