by Summary:
Richard Murphy has always said that MMT supporters do not properly understand tax and Jonathan Portes seems to me, on the evidence of this article, to fall into the same category. What Jonathan Portes misses is that the ‘financial constraints’ are self-imposed. It’s bad enough – in reality – being short of teachers, nurses and doctors. But having bogus self imposed financial constraints is just – well – self imposed.Finance is man made. Jonathan Portes, as a former Treasury civil servant, seems, regrettably, to suggest that finance should make man.... Progressive PulseMMT as nonsense economics – or not Peter May
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Mike Norman considers the following as important: Jonathan Portes, MMT, MMT criticism, MMT critics, Richard Muphy
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Richard Murphy has always said that MMT supporters do not properly understand tax and Jonathan Portes seems to me, on the evidence of this article, to fall into the same category. What Jonathan Portes misses is that the ‘financial constraints’ are self-imposed. It’s bad enough – in reality – being short of teachers, nurses and doctors. But having bogus self imposed financial constraints is just – well – self imposed.Finance is man made. Jonathan Portes, as a former Treasury civil servant, seems, regrettably, to suggest that finance should make man.... Progressive PulseMMT as nonsense economics – or not Peter May
Topics:
Mike Norman considers the following as important: Jonathan Portes, MMT, MMT criticism, MMT critics, Richard Muphy
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
Richard Murphy has always said that MMT supporters do not properly understand tax and Jonathan Portes seems to me, on the evidence of this article, to fall into the same category.
What Jonathan Portes misses is that the ‘financial constraints’ are self-imposed. It’s bad enough – in reality – being short of teachers, nurses and doctors. But having bogus self imposed financial constraints is just – well – self imposed.
Finance is man made.
Jonathan Portes, as a former Treasury civil servant, seems, regrettably, to suggest that finance should make man....Progressive Pulse
MMT as nonsense economics – or not
Peter May