by Summary:
Most public debate around Modern Monetary Theory (MMT) revolves around fiscal policy. This is not too surprising, as this is largely where political economy concerns crop up when discussing MMT. However, the emphasis on fiscal policy makes discussions of the MMT debates quite awkward. There is a large divide between the debate in modern economic theory, and the debate in popular discourse. If we look at economic theory, there are no credible challenges to the MMT story at present; at most, one can debate terminology. Since many economists are keen to present economics as a highly mathematical, scientific discipline, getting into long-winded, arcane debates about linguistic issues does not fit the narrative. However, there are plenty of reasons for there to be a strong debate in popular
Topics:
Mike Norman considers the following as important: economic policy, fiscal policy, MMT, policy
This could be interesting, too:
Most public debate around Modern Monetary Theory (MMT) revolves around fiscal policy. This is not too surprising, as this is largely where political economy concerns crop up when discussing MMT. However, the emphasis on fiscal policy makes discussions of the MMT debates quite awkward. There is a large divide between the debate in modern economic theory, and the debate in popular discourse. If we look at economic theory, there are no credible challenges to the MMT story at present; at most, one can debate terminology. Since many economists are keen to present economics as a highly mathematical, scientific discipline, getting into long-winded, arcane debates about linguistic issues does not fit the narrative. However, there are plenty of reasons for there to be a strong debate in popular
Topics:
Mike Norman considers the following as important: economic policy, fiscal policy, MMT, policy
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
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Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Most public debate around Modern Monetary Theory (MMT) revolves around fiscal policy. This is not too surprising, as this is largely where political economy concerns crop up when discussing MMT. However, the emphasis on fiscal policy makes discussions of the MMT debates quite awkward. There is a large divide between the debate in modern economic theory, and the debate in popular discourse.
If we look at economic theory, there are no credible challenges to the MMT story at present; at most, one can debate terminology. Since many economists are keen to present economics as a highly mathematical, scientific discipline, getting into long-winded, arcane debates about linguistic issues does not fit the narrative. However, there are plenty of reasons for there to be a strong debate in popular discourse: not everyone agrees on the proper role of government in the economy. However, we cannot appeal to any formal theory to adjudicate the popular debates....Bond Economics
MMT And Fiscal Policy: Radical Or Not?
Brian Romanchuk