Heterodox
Good pro-MMT article from Peter May contra the neoliberal left.Take-away: So I agree that distribution of power is important but I do think that knowing exactly where money comes can be mighty helpful in torpedoing that actual power, by better exposing its bogus ‘justification’. That is why I imagine many consider MMT to be progressive; not because its understandings are inherently so in themselves. But simply because, in order to avoid a fair and logical left of centre conclusion, you...
Read More »For MMT — Thomas Fazi and Bill Mitchell
Leading proponents of Modern Monetary Theory respond to Tribune's recent article on the topic, arguing that socialists should not be afraid to "seize the means of production of money." TribuneFor MMT Thomas Fazi and Bill Mitchell
Read More »Fixing Out-Of-Control Banking Systems? — Brian Romanchuk
This is just a short post-script to some points in the James Meadway article I discussed yesterday. What is to be done about financial sectors that are out-of-control, and endangering economic stability?... I would add one important thing that MMT contirubtes to this debate that Brian doesn't mention here. Warren Mosler has pounded on the need to regulate banks' asset side rather than their liability side as is current practice.Brian does mention that MMT economists have criticized current...
Read More »Richard Murphy — For MMT (long and wonkish)
Contra Ian Stewart and James Meadway.Aside: If this is considered wonkish in the UK, the country has a problem.Tax Research UKFor MMT (long and wonkish) Richard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum
Read More »Bill Mitchell — MMT is just plain old bad economics – Part 1
On August 6, 2018, British tax expert Richard Murphy who is becoming increasingly sympathetic to the principles of Modern Monetary Theory (MMT) published a blog post, which recorded an exchange with one James Meadway, who is the economics advisor to the Shadow Chancellor John McDonnell in Britain. The exchange took place on the social media page of a Labour Party insider who has long advocated a Land Tax, which McDonnell is on the public record as saying will “raise the funds we need” to...
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