Might not be MMT, but it isn’t Socialism

So there has been a lot written on Modern Money Theory lately. There is this piece by The Economist, Jerry Epstein’s paper, and Lance Taylor’s one, more on the Democratic Socialist ideas than MMT per se (here). There was also this op-ed by Robert Shiller in the NYTimes, and the two posts by Tom Palley, that I reposted here on the blog. Finally, Christine Lagarde also commented on MMT during the World Bank/IMF Spring Meetings.I can and I will not comment again on my views on this. As I said before, I’m a fellow traveller in the sense that I do agree with MMTeers on functional finance (even though Randy Wray, at the Easterns, presenting Stephany Kelton’s slides suggested that functional finance was a late addition to MMT,  coming from Matt

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