by Summary:
Which brings us to the common ground that Trump shares with Ocasio-Cortez: Neither one believes in budgets. Central to the Green New Deal is a formulation known as modern monetary theory, which holds that the spending power of a sovereign government is limited only by its productive resources. Trump's fiscal insanity - massive spending along with pleas for lower interest rates - is modern monetary theory in all but name, and his trillion-dollar deficits are inspirational for the authors of the Green New Deal. For today's left-wing Democrats, the theory promises to answer the critique made famous by the late British prime minister Margaret Thatcher. The problem with socialism, Thatcher said from experience, is "you eventually run out of other people's money." Modern monetary theory says
Topics:
Mike Norman considers the following as important: Alexandria Ocasio-Cortez, AOC, MMT, MMT criticism, MMT critics
This could be interesting, too:
Which brings us to the common ground that Trump shares with Ocasio-Cortez: Neither one believes in budgets. Central to the Green New Deal is a formulation known as modern monetary theory, which holds that the spending power of a sovereign government is limited only by its productive resources. Trump's fiscal insanity - massive spending along with pleas for lower interest rates - is modern monetary theory in all but name, and his trillion-dollar deficits are inspirational for the authors of the Green New Deal. For today's left-wing Democrats, the theory promises to answer the critique made famous by the late British prime minister Margaret Thatcher. The problem with socialism, Thatcher said from experience, is "you eventually run out of other people's money." Modern monetary theory says
Topics:
Mike Norman considers the following as important: Alexandria Ocasio-Cortez, AOC, MMT, MMT criticism, MMT critics
This could be interesting, too:
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
Matias Vernengo writes Modern Money Theory in the Tropics: A Reply to Agustin Mario
Which brings us to the common ground that Trump shares with Ocasio-Cortez: Neither one believes in budgets. Central to the Green New Deal is a formulation known as modern monetary theory, which holds that the spending power of a sovereign government is limited only by its productive resources. Trump's fiscal insanity - massive spending along with pleas for lower interest rates - is modern monetary theory in all but name, and his trillion-dollar deficits are inspirational for the authors of the Green New Deal.
For today's left-wing Democrats, the theory promises to answer the critique made famous by the late British prime minister Margaret Thatcher. The problem with socialism, Thatcher said from experience, is "you eventually run out of other people's money." Modern monetary theory says simply: Print some more.
Even the theory gurus agree, however, that printing more money can eventually lead to inflation, and enough inflation can turn a rich country into Venezuela. The mantra of the Green New Dealers - that "deficits don't matter" - is only true until it isn't.
Could it be that Trump's reckless spending and his feckless Republican enablers will doom Democratic firebrands to live in the real world? Seems unfair. But the United States needs at least one party of reality.
Propaganda piece for the bipartisan Establishment, which is deeply conservative fiscally. All emotion, no fact-based argument.
Typical article by an uninformed journalist writing for money. Not worth wasting time on. That The Washington Post sees fit to print this sort of thing is a tell in itself.
Greenwich Time
That Green New Deal has some seeing only red ink
David Von Drehle, TheWashington Bezos Post
That Green New Deal has some seeing only red ink
David Von Drehle, The