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Comments On Tyler Cowen’s Review Of “The Deficit Myth” — Brian Romanchuk

Summary:
Tyler Cowen did a review of "The Deficit Myth" by Stephanie Kelton, which is to be released June 9 (Amazon affiliate link). Since I have not read the book yet myself, I cannot comment on his views about the book. However, Cowen makes some criticisms of Modern Monetary Theory (MMT) that are worthwhile responding to. I am turning to writing a short primer on MMT, and will probably have a chapter on critiques that I feel are useful. (My estimate is that over 90% of "MMT critiques" consist of people making stuff up, based on the contents of other "critiques.") I expect that I could use some of the discussion here as examples. The review consists of a dozen numbered short points, and I will only respond to the ones that I see as being useful, and not solely related to the book.... Bond

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Tyler Cowen did a review of "The Deficit Myth" by Stephanie Kelton, which is to be released June 9 (Amazon affiliate link). Since I have not read the book yet myself, I cannot comment on his views about the book. However, Cowen makes some criticisms of Modern Monetary Theory (MMT) that are worthwhile responding to.
I am turning to writing a short primer on MMT, and will probably have a chapter on critiques that I feel are useful. (My estimate is that over 90% of "MMT critiques" consist of people making stuff up, based on the contents of other "critiques.") I expect that I could use some of the discussion here as examples. The review consists of a dozen numbered short points, and I will only respond to the ones that I see as being useful, and not solely related to the book....
Bond Economics
Comments On Tyler Cowen's Review Of "The Deficit Myth"
Brian Romanchuk
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.

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