Wednesday , June 19 2019
Home / Mike Norman Economics / Bill Mitchell — Seize the Means of Production of Currency – Part 2

Bill Mitchell — Seize the Means of Production of Currency – Part 2

Summary:
Last week, Thomas Fazi and I had a response to a recent British attack on Modern Monetary Theory (MMT) published in The Tribune magazine (June 5, 2019) – For MMT. The article were were responding to – Against MMT – written by a former Labour Party advisor. In – Part 1 – we considered how the MMT critique was not really about MMT at all. We provided a more accurate summary of what MMT is and what it is not. In this second Part we consider the way the former advisor’s article misrepresented MMT authors on issues such as taxes, inflation and democracy. Not that this three-part series is not just a point-by-point response to the attack on MMT noted above. In part, that article was not really about MMT but some concoction the author created to make his argument easier to sustain.In – Seize

Topics:
Mike Norman considers the following as important: , ,

This could be interesting, too:

J.D. Alt writes MMT Carbon Initiative—a modest proposal

Mike Norman writes Bill Mitchell – Seize the Means of Production of Currency – Part 3

Mike Norman writes Lars P. Syll — Wren-Lewis vs MMT

Mike Norman writes MMT And “Printing Money” — Brian Romanchuk

Last week, Thomas Fazi and I had a response to a recent British attack on Modern Monetary Theory (MMT) published in The Tribune magazine (June 5, 2019) – For MMT. The article were were responding to – Against MMT – written by a former Labour Party advisor. In – Part 1 – we considered how the MMT critique was not really about MMT at all. We provided a more accurate summary of what MMT is and what it is not. In this second Part we consider the way the former advisor’s article misrepresented MMT authors on issues such as taxes, inflation and democracy. Not that this three-part series is not just a point-by-point response to the attack on MMT noted above. In part, that article was not really about MMT but some concoction the author created to make his argument easier to sustain.

In – Seize the Means of Production of Currency – Part 1 (June 11, 2019) – we provided a coherent summary of what MMT is rather than what the critics claim it is.
It is impossible to tell whether their misrepresentations are deliberate to set up the ‘straw person’, a product of ignorance and lack of research, or plain stupidity – or a combination of all three.
In Part 1, we got up to the question of taxes. And so we resume …
Bill Mitchell – billy blog
Seize the Means of Production of Currency – Part 2
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
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 *