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Last week, I stumbled across an episode of a podcast that was advertised as the “Voice of Reason on MMT.” The show’s host turned to David Kelly—the Chief Global Strategist and Head of the Global Market Insights Strategy Team for J.P. Morgan Asset Management—for insight into Modern Monetary Theory. Apparently, the conversation was inspired by something Kelly had written on MMT. I searched around for something recent but was only able to find this short note from September 2020.In the note, Kelly says things like, “MMT exploits the trust that people have in fiat currency.” The problem, he says, is that “trust in money is like trust in marital fidelity.” You know, once you lose it, it’s probably gone forever....The LensA Free Lunch for Me, but Not for Thee—An ill-reasoned take on
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Last week, I stumbled across an episode of a podcast that was advertised as the “Voice of Reason on MMT.” The show’s host turned to David Kelly—the Chief Global Strategist and Head of the Global Market Insights Strategy Team for J.P. Morgan Asset Management—for insight into Modern Monetary Theory. Apparently, the conversation was inspired by something Kelly had written on MMT. I searched around for something recent but was only able to find this short note from September 2020.In the note, Kelly says things like, “MMT exploits the trust that people have in fiat currency.” The problem, he says, is that “trust in money is like trust in marital fidelity.” You know, once you lose it, it’s probably gone forever....The LensA Free Lunch for Me, but Not for Thee—An ill-reasoned take on
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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Last week, I stumbled across an episode of a podcast that was advertised as the “Voice of Reason on MMT.” The show’s host turned to David Kelly—the Chief Global Strategist and Head of the Global Market Insights Strategy Team for J.P. Morgan Asset Management—for insight into Modern Monetary Theory. Apparently, the conversation was inspired by something Kelly had written on MMT. I searched around for something recent but was only able to find this short note from September 2020.The LensIn the note, Kelly says things like, “MMT exploits the trust that people have in fiat currency.” The problem, he says, is that “trust in money is like trust in marital fidelity.” You know, once you lose it, it’s probably gone forever....
A Free Lunch for Me, but Not for Thee—An ill-reasoned take on MMT
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders
https://stephaniekelton.substack.com/p/a-free-lunch-for-me-but-not-for-thee