Tag Archives: MMT critics

The simple fact is that imports are real benefits, meaning real goods, for the importer and exports are real costs for the exporter, who exchanges real goods for financial goods ("money").That is to say, one party to the exchange obtains real resources in exchange for monetary payment. This implies that the party accepting the payment desires to save, however, temporarily in the currency in which the real goods are priced.Nothing else is claimed in saying that imports are real benefits and...

The trolls are at it.Continental TelegraphZimbabwe’s Real Riots Problem – Modern Monetary Theory Strikes Again Tim Worstall AEIEp. 124: What is Modern Monetary Theory? — Political Economy with James Pethokoukis The WeekWhy Modern Monetary Theory is an unserious idea for an unserious time James Pethokoukis

Scraping the bottom of the barrel. Mocked on Twitter. Michael Strain is straining. The Establishment is grabbing at straws as their world begins to collapse. Of course, the "joke" is not funny when the joke is on you. Actually, his attempted screed is pretty funny. He is forced to admit that MMT has it right and then look for reasons like political irresponsibility that admitting it will blow up the world.Bloomberg Opinion‘Modern Monetary Theory’ Is a Joke That’s Not Funny Michael R....

Half-informed.Many of the points made have been dealt with in the MMT literature, but the author seems to be only superficially informed about it. Almost no one has taken the time to educate themselves on MMT in a serious way before offering shoot from the hip criticism.On the other hand, these are valid considerations and if people are not informed about the MMT solutions, more education is required. That includes educating MMT evangelists so that don't just spread slogans or perpetuate...

Zimbabwe!Tim Worstall doubles down.(Tim covers himself in the concluding paragraphs though.)Continental TelegraphThe Problem With Modern Monetary Theory – Explained For Children So MMT Enthusiasts Can Understand Tim Worstall

No, this is not the Onion.Can't even spell the name "Modern Monetary Theory" right. OK, finance and economics is hard, but spelling?Columbia Daily TribuneModeren [sic] Monetary Theory is unsustainable hypocrisy Craig A. Van Matre, retired attorney formerly with Van Matre, Harrison, Hollis and Taylor

Taking down lazy back-of-the-hand critiques of MMT that don't actually address MMT but just belittle a caricature of it.Independent AustraliaA response to MMT criticism Stephen Williams

Finally, a useful MMT critique.Philosophy of MoneyMMT and fiscal rules (part I) – a prologueEric Lonergan

In a Jacobin article earlier this year, Thomas Fazi and Bill Mitchell argued in favour of a hard Brexit. We published a reply, also in Jacobin. Fazi and Mitchell (FM) responded with accusations of strawman arguments, false claims, bias and muddled thinking. We intended to write a reply at the time, but other commitments got in the way. However we believe that FM’s reply was sufficiently inaccurate – and in places, dishonest – that a reply is required, even if belatedly.... Critical Macro...

This is the third (and final) part of my response to an article published by the German-language service Makroskop (March 20, 2018) – Modern Monetary Theory: Einwände eines wohlwollenden Zweiflers (Modern Monetary Theory – Questions from a Friendly Critic) – and written by Martin Höpner, who is a political scientist associated with the Max-Planck-Institut für Gesellschaftsforschung (Max Planck Institute for Social Research – MPIfG) in Cologne. Today, we will discuss inflation and round up...