Tag Archives: MMT critics

Removing some confusions. See the comments also.Lars P. Syll’s BlogWhat’s wrong with MMT? Nothing!Lars P. Syll | Professor, Malmo University

Risible. Of course, there is another choice: more deficit spending. Last week, I tried to educate myself on so-called “modern monetary theory.” Embraced by some Democrats, its central thesis seems to be that deficits are not nearly as dangerous as we’ve been led to believe. Here’s the case for that view, as best I can determine.“The biggest mistake we make is thinking of the federal government as a household” that has to repay its debt, says Stephanie Kelton, an economist at Stony Brook...

Another straw man argument.Matt Bruenig begins with summarizing what some prominent MMT critics have said and then attacks MMT on that basis. Lame.At one time, it was prudent strategically to correct erroneous arguments against MMT. It still is when arguments are researched. But otherwise it is a waste of time now. Time can be more productively allocated.People's Policy ProjectWhat’s the Point of Modern Monetary Theory? Matt Bruenig

Hyperinflation crank.Concord MonitorMy Turn: Money, wealth and balloon navigationChristopher Carley

I hate to break it to the MMTers, but fuddy-duddy economists already knew this. Indeed, among free-market economists it is a standard pedagogical device to tell the audience that the government has three ways of financing its spending, namely (1) taxes, (2) borrowing, or (3) inflation. So this notion that only the MMTers perceive the possibility of the printing press as a means of “paying for” government programs is silly.  For proof, consider the following excerpt from Austrian economist...

Interesting title since the primary issue of the day is the survival of life on Planet Earth as the sixth extinction progresses. Should be "Planet earth to AEI."Bond vigilantes again.AEIPlanet earth to Modern Monetary Theorists Desmond Lachman |AEI scholar, previously managing director and chief emerging market economic strategist at Salomon Smith Barney after serving as deputy director in the International Monetary Fund’s (IMF) Policy Development and Review Department

"Stealth Socialism." The Epoch TimesMMT: Modern Monetary Theory or Monopoly Money Tyranny? Mark Hendrickson | adjunct professor of economics and sociology at Grove City College

A bit of ideological bias at work influencing view of causality, namely, that austerity is expansionary because saving funds investment? I suppose that if Modern Monetary Theory (MMT) were implemented, foreign exchange markets would have their say about it (provided we still had floating exchange rates). Do you think it is a coincidence that the two biggest bull markets correspond with government austerity? I do not. And tell us what happened after the two biggest bull markets? MMT...

Nathan Lewis is totally confused about government finance and central banking. And he has an attitude to begin with. Amazing that this kind of rant gets published. Oh well, Forbes. ForbesThe Problem With "Modern Monetary Theory" Is That It's True Nathan Lewis

Brad DeLong schools Jonathan Portes.Grasping RealityI would not have called MMT "nonsense economics". Brad DeLong | Professor of Economics, UCAL Berkeley