Lars P. Syll — Wren-Lewis vs MMT

Summary:
Simon Wren-Lewis is obviously upset because some MMTers have called his economic policy proposals (providing the theoretical foundation for Labour’s Fiscal Credibility Rule) “neoliberal”. Neoliberal or not, what he does have to say about MMT and his own mainstream economics makes it clear what the debate really comes down to: Monetary policy, except at the lower bound (to which Labour affixes a rule), versus fiscal policy in accordance with functional finance.What this boils down to is "market forces" dictating to government (neoliberal) or political discretion in fiscal policy using government appropriations in a representative democracy to achieve public purpose (social democracy).Lars P. Syll’s BlogWren-Lewis vs MMT Lars P. Syll | Professor, Malmo UniversitySee alsoProgressive

Topics:
Mike Norman considers the following as important: MMT, Neoliberalism

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