Summary:
I don't put up criticism of MMT unless it is informed and Otmar Issing at least knows the basics. His response is predictable since he is a well-known financial conservative even in Germany, which is the the contemporary bastion of the Treasury view. He still thinks that monetary policy administered by an independent central bank works, in spite of the facts.His argument against MMT? Currency debasement.Project SyndicateThe MMT MythOtmar Issing, President of the Center for Financial Studies at Goethe University, Frankfurt and former chief economist and member of the board of the European Central Bank. See alsoIs currency debasement going to be the new meme?Money WeekToo embarrassed to ask: what is a deficit?

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