by Summary:
My argument why MMT is awkward to grasp for people with already fixed views about economics is that we need to draw a distinction between two concepts of MMT: a narrow version (or core MMT), and a broad version. (This is my preferred wording, but is probably non-standard.) Most MMT primers on the internet focus on the definition of narrow MMT, while many of the interesting questions in economics (which show up in financial macro analysis) end up in broad MMT. It should come as no surprise that if you are interested in broad MMT, watching an online video about narrow MMT will leave a lot of questions unanswered. However, based on comments of MMT critics, this is exactly what many of them have done. Finally, in the interest of brevity, I am presenting this overview from my perspective,
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Mike Norman considers the following as important:
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My argument why MMT is awkward to grasp for people with already fixed views about economics is that we need to draw a distinction between two concepts of MMT: a narrow version (or core MMT), and a broad version. (This is my preferred wording, but is probably non-standard.) Most MMT primers on the internet focus on the definition of narrow MMT, while many of the interesting questions in economics (which show up in financial macro analysis) end up in broad MMT. It should come as no surprise that if you are interested in broad MMT, watching an online video about narrow MMT will leave a lot of questions unanswered. However, based on comments of MMT critics, this is exactly what many of them have done. Finally, in the interest of brevity, I am presenting this overview from my perspective,
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Jodi Beggs writes Economists Do It With Models 1970-01-01 00:00:00
Mike Norman writes 24 per cent annual interest on time deposits: St Petersburg Travel Notes, installment three — Gilbert Doctorow
Lars Pålsson Syll writes Daniel Waldenströms rappakalja om ojämlikheten
Merijn T. Knibbe writes ´Fryslan boppe´. An in-depth inspirational analysis of work rewarded with the 2024 Riksbank prize in economic sciences.
My argument why MMT is awkward to grasp for people with already fixed views about economics is that we need to draw a distinction between two concepts of MMT: a narrow version (or core MMT), and a broad version. (This is my preferred wording, but is probably non-standard.) Most MMT primers on the internet focus on the definition of narrow MMT, while many of the interesting questions in economics (which show up in financial macro analysis) end up in broad MMT. It should come as no surprise that if you are interested in broad MMT, watching an online video about narrow MMT will leave a lot of questions unanswered. However, based on comments of MMT critics, this is exactly what many of them have done.
Finally, in the interest of brevity, I am presenting this overview from my perspective, and others may feel that there are better ways of presenting the material (or possibly that I am mis-characterising MMT). Chapter 4 gives a longer description of MMT and stays much closer to the source materials listed therein.
Bond Economics
Brian Romanchuk