Tuesday , November 5 2024
Home / Mike Norman Economics / John T. Harvey — The Senate Resolution To Condemn MMT: Here Are Some Better Candidates For Condemnation

John T. Harvey — The Senate Resolution To Condemn MMT: Here Are Some Better Candidates For Condemnation

Summary:
I can hardly believe that I am typing this. A resolution has been forwarded in the Senate to condemn an economic theory: “Recognizing the duty of the Senate to condemn Modern Monetary Theory and recognizing that the implementation of Modern Monetary Theory would lead to higher deficits and higher inflation.” I guess on the one hand that we should be happy that anyone is even aware of Post Keynesian economic theory. Scholars in this area have toiled largely in vain for going on a century (marking Keynes’ General Theory in 1936 as the starting point). So maybe there’s no such thing as bad publicity??? But, to suggest that MMT is anything radical or dangerous–especially to the point of requiring an official Senate condemnation–is just plain bizarre.…. Forbes — Pragmatic EconomicsThe Senate

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.

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

I can hardly believe that I am typing this. A resolution has been forwarded in the Senate to condemn an economic theory:

“Recognizing the duty of the Senate to condemn Modern Monetary Theory and recognizing that the implementation of Modern Monetary Theory would lead to higher deficits and higher inflation.”
I guess on the one hand that we should be happy that anyone is even aware of Post Keynesian economic theory. Scholars in this area have toiled largely in vain for going on a century (marking Keynes’ General Theory in 1936 as the starting point). So maybe there’s no such thing as bad publicity???
But, to suggest that MMT is anything radical or dangerous–especially to the point of requiring an official Senate condemnation–is just plain bizarre.….
Forbes — Pragmatic Economics
The Senate Resolution To Condemn MMT: Here Are Some Better Candidates For Condemnation

If Unemployment Is So Low Then Why Don’t I Feel Better?John T. Harvey | Professor of Economics, Texas Christian University

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *