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Answers from the MMTers

January 11, 2018

By Stephanie Kelton and Randall Wray
A few days ago, Jared Bernstein posed some Questions for the MMTers in order to gain a “better understanding [of our] arguments.” We appreciate his interest in our ideas and, especially, his direct appeal for clarification of our views.  He raised four big questions, which our Australian counterpart, Bill Mitchell, has already answered in his own three-part series.  What follows is a response from two North American MMTers.

Jared: Overheating is possible, and taxing is a lousy mechanism for dealing with it.
We agree that relying on Congress to raise/lower taxes to fine-tune the economy will not succeed. We agree with Janet Yellen that stronger automatic stabilizers are needed to enhance cyclical stability, taking pressure off lawmakers (and the

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Announcing the First International Conference on Modern Monetary Theory 

May 19, 2017

Economics for a New Progressive Era
University of Missouri-Kansas City
September 21–24, 2017
Conference site:
With Support From

Robert Skidelsky and Morton Sosland
UMKC Economics Club

Journal of Post Keynesian Economics

Featured Speakers Include
Warren Mosler, Robert Skidelsky, Jamie Galbraith, Jan Kregel, and Randall Wray
Modern Monetary Theory has transformed the economics discipline. Its influence extends beyond economics, reaching deep into the fields of law, history, finance, banking, public policy, and philosophy. Join the world’s leading MMT practitioners, and explore the cutting edge of modern economic thinking.
Call for Papers. Submissions are welcome on any aspect of Modern Monetary Theory, such as: fiscal policy, economic development, employment

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