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Wren-Lewis’ bizarre critique of MMT

Summary:
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

Wren-Lewis’ bizarre critique of MMTNow 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 establish the truth value of a fact. Never has. Never will.

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Lars Pålsson Syll
Professor at Malmö University. Primary research interest - the philosophy, history and methodology of economics.

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