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Based on my own interactions with lawmakers on the Hill, I would estimate that roughly one-third of Congress is now MMT conversant. By that I mean that they could articulate—in very general terms—that the federal government is the issuer of the currency, that its budget is not constrained like that of a household or private business, and that inflation (not solvency) is the relevant constraint on spending.Congressman Yarmuth is more than generically conversant with MMT. He put in the time and effort required to really understand the framework....Encouraging. And Congressman Yarmuth is also a former Republican who switched parties.The LensThe Kentucky OwlStephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff
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Based on my own interactions with lawmakers on the Hill, I would estimate that roughly one-third of Congress is now MMT conversant. By that I mean that they could articulate—in very general terms—that the federal government is the issuer of the currency, that its budget is not constrained like that of a household or private business, and that inflation (not solvency) is the relevant constraint on spending.Congressman Yarmuth is more than generically conversant with MMT. He put in the time and effort required to really understand the framework....Encouraging. And Congressman Yarmuth is also a former Republican who switched parties.The LensThe Kentucky OwlStephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff
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Mike Norman considers the following as important:
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Based on my own interactions with lawmakers on the Hill, I would estimate that roughly one-third of Congress is now MMT conversant. By that I mean that they could articulate—in very general terms—that the federal government is the issuer of the currency, that its budget is not constrained like that of a household or private business, and that inflation (not solvency) is the relevant constraint on spending.Encouraging. And Congressman Yarmuth is also a former Republican who switched parties.Congressman Yarmuth is more than generically conversant with MMT. He put in the time and effort required to really understand the framework....
The Lens
The Kentucky Owl
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
The Kentucky Owl
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders