by Summary:
Not to bad an article overall, but Dion Rabouin goes off the rails at the conclusion: The takeaway: There's no telling whether Kelton and Sanders are right, because no government has ever attempted to implement the MMT approach. The reality is that all governments are accounted for in MMT and all governments fall under a special case of the general case set forth in the MMT conceptual institutionalist model that is grounded in law and accounting rather than mathematical models based on assumptions that are largely subjective and ignore key factors in the operations of an economic system. In addition, policy recommendations similar to MMT were implemented in the US during the Great Depression and WWII. Further over the top logically: However, the fact that the U.S. national debt has
Topics:
Mike Norman considers the following as important: MMT, MMT criticism, MMT critics
This could be interesting, too:
Not to bad an article overall, but Dion Rabouin goes off the rails at the conclusion: The takeaway: There's no telling whether Kelton and Sanders are right, because no government has ever attempted to implement the MMT approach. The reality is that all governments are accounted for in MMT and all governments fall under a special case of the general case set forth in the MMT conceptual institutionalist model that is grounded in law and accounting rather than mathematical models based on assumptions that are largely subjective and ignore key factors in the operations of an economic system. In addition, policy recommendations similar to MMT were implemented in the US during the Great Depression and WWII. Further over the top logically: However, the fact that the U.S. national debt has
Topics:
Mike Norman considers the following as important: 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
Not to bad an article overall, but Dion Rabouin goes off the rails at the conclusion:
The takeaway: There's no telling whether Kelton and Sanders are right, because no government has ever attempted to implement the MMT approach.The reality is that all governments are accounted for in MMT and all governments fall under a special case of the general case set forth in the MMT conceptual institutionalist model that is grounded in law and accounting rather than mathematical models based on assumptions that are largely subjective and ignore key factors in the operations of an economic system.
In addition, policy recommendations similar to MMT were implemented in the US during the Great Depression and WWII.
Further over the top logically:
However, the fact that the U.S. national debt has ballooned to $23.4 trillion and both U.S. and global inflation are near their lowest levels on record does support their case.This is backwards and exhibits backward thinking. In fact, the current elevated government debt and low inflation supports the MMT explanation against the conventional models.
Axios really needs better editors.
Inside the Bernie economy
Dion Rabouin