by Summary:
Modern Monetary Theory, or MMT, is almost never mentioned specifically by members of Congress who negotiate budget and appropriations measures, but it is working its way into the mainstream political debate. Now, it’s gotten some Democratic lawmakers’ attention as the party considers big-ticket policy priorities. That includes House Budget Chairman John Yarmuth (D-Ky.), who will decide over the next few weeks whether to produce a fiscal 2020 budget resolution that maps out the caucus’s fiscal vision for the future. “It sounds like there is a lot of validity to it,” Yarmuth told reporters in February. “The problem I see with it is that ultimately it all could work until it doesn’t. And when it doesn’t, it would take congressional action to correct it, and that’s far from guaranteed.”…
Topics:
Mike Norman considers the following as important: Democratic Party, MMT, MMT and policy, MMT and politics, MMT critics, Rep. John Yarmuth, US Politics
This could be interesting, too:
Modern Monetary Theory, or MMT, is almost never mentioned specifically by members of Congress who negotiate budget and appropriations measures, but it is working its way into the mainstream political debate. Now, it’s gotten some Democratic lawmakers’ attention as the party considers big-ticket policy priorities. That includes House Budget Chairman John Yarmuth (D-Ky.), who will decide over the next few weeks whether to produce a fiscal 2020 budget resolution that maps out the caucus’s fiscal vision for the future. “It sounds like there is a lot of validity to it,” Yarmuth told reporters in February. “The problem I see with it is that ultimately it all could work until it doesn’t. And when it doesn’t, it would take congressional action to correct it, and that’s far from guaranteed.”…
Topics:
Mike Norman considers the following as important: Democratic Party, MMT, MMT and policy, MMT and politics, MMT critics, Rep. John Yarmuth, US Politics
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
Modern Monetary Theory, or MMT, is almost never mentioned specifically by members of Congress who negotiate budget and appropriations measures, but it is working its way into the mainstream political debate. Now, it’s gotten some Democratic lawmakers’ attention as the party considers big-ticket policy priorities. That includes House Budget Chairman John Yarmuth (D-Ky.), who will decide over the next few weeks whether to produce a fiscal 2020 budget resolution that maps out the caucus’s fiscal vision for the future.
“It sounds like there is a lot of validity to it,” Yarmuth told reporters in February. “The problem I see with it is that ultimately it all could work until it doesn’t. And when it doesn’t, it would take congressional action to correct it, and that’s far from guaranteed.”…The alternative? Stick with something already shown not to be working? Is it really being prudent to stick with the devil we know rather than take a chance on the devil (maybe) we don't know?