Jonathon Reynolds – Why Labour doesn’t support Modern Monetary Theory

Summary:
Oh dear, Bill Mitchell has his work cut out. He quite likes the British Labour Party, probably because it most likely the only real mainstream leftist party left in the first world, well, half of it is, anyway. It's a shame, because if we could have public services without taxing people on average incomes too much we could easily win over the floating voter and maybe even more.It should also be noted that there is nothing inherently left-wing about MMT – it supporters include members of the Tea Party and Trump supporters in the US. Rather, MMT is a glib, “silver bullet” solution to the major economic problems we face. This accounts for some of its appeal, but in my view it is a direct barrier to winning the battle of ideas about transforming the economy and taking on the establishment

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