by Wren-Lewis’ bizarre critique of MMT Now we can see why MMT is so popular … We are in an MMT world, where we should be using fiscal policy and not worrying about the deficit, but policymakers don’t understand that. I think most mainstream macroeconomists do understand this, but we are not often heard. The ground was therefore ripe for MMT. Policymakers following austerity when they clearly should not annoys me a great deal, and I am very happy to join common cause with MMT on this. By comparison, the things that annoy me about MMT are trivial, like a failure to use equations … Simon Wren-Lewis Hmm … So SWL has become an MMTer at the ZLB? But — really — how can failing to use equations be annoying? Think I rather stick with Paul Romer: Math cannot
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Wren-Lewis’ bizarre critique of MMT
Now we can see why MMT is so popular … We are in an MMT world, where we should be using fiscal policy and not worrying about the deficit, but policymakers don’t understand that. I think most mainstream macroeconomists do understand this, but we are not often heard. The ground was therefore ripe for MMT.
Policymakers following austerity when they clearly should not annoys me a great deal, and I am very happy to join common cause with MMT on this. By comparison, the things that annoy me about MMT are trivial, like a failure to use equations …
Hmm …
So SWL has become an MMTer at the ZLB?
But — really — how can failing to use equations be annoying?
Think I rather stick with Paul Romer:
Math cannot establish the truth value of a fact. Never has. Never will.