Tag Archives: MMT

It is Wednesday today and a blog-lite day. An announcement and a few videos only. But plenty to occupy your time if so inclined. I have an important announcement to make, a video of our Birmingham event (May 11, 2019) and some music from one of the best guitar players. Thomas Fazi and I also have an article coming out in The Tribune magazine soon in response to a rather unsavoury and silly attack on Modern Monetary Theory (MMT) by an ex-advisor to the British Labour Party. There will also...

Richard Murphy has been working on the New Green Deal over the last decade. In the second half of this post he provides an outline that is very useful in thinking about it. Tax ResearchGrowth, MMT and the Green New Deal Richard Murphy

The House of Representatives didn’t know what hit it.The Green New Deal, introduced by Representative Alexandria Ocasio-Cortez in February, energized politicians on both sides of the political spectrum with its twin goals of carbon neutrality by 2030 and the promise of jobs for every American. It also polarized them. Critics have one main question: How the hell are we going to pay for it?As the guy responsible for the plan’s “jobs guarantee,” Andrés Bernal, 32, has a lot to answer for. And...

The debates about MMT are expanding. There are weird offerings springing up each day. I read something yesterday about how MMT is really just Marxism in disguise and therefore a plot to overthrow entrepreneurship. Well in a socialist society there will still be a monetary system! Most of the critiques just get to their point quickly – MMT is about wild printing presses undermining the value of the currency! That should summarise 25 years of our work nicely. But there are also other...

Today’s blog post considers the Australian election and some issues that arose from my recent trip to Scotland – all of which bear on the progress of our work in the public debate. In Australia, we have just held a federal election and it was expected (and certainly the polls and bookies expected) that the Labor Party would win easily after 6 shocking years of conservative rule. Those 6 years have been marked by scandal, three leaders (Prime Ministers), massive internal divisions within the...

Magpie critiques Paul Mason's criticism of MMT from the POV of a Marxist.Magpie's Asymmetric WarfareGetting all Tied Up (2) Magpie

OMG. Who knew?BloombergMarco Rubio Puts Out a Paper Citing Obscure Left-Wing Economists Ben Holland

Remarks by L. Randall Wray at “The Treaty of Versailles at 100: The Consequences of the Peace”, a conference at the Levy Economics Institute, Bard College, May 3, 2019. I’m going to talk about war, not peace, in relation to our work on the Green New Deal—which I argue is the big MEOW—moral equivalent of war—and how we are going to pay for it. So I’m going to focus on Keynes’s 1940 book— How To Pay for the War—the war that followed the Economic Consequences of the Peace.Our analysis (and...

Remarks by L. Randall Wray at “The Treaty of Versailles at 100: The Consequences of the Peace”, a conference at the Levy Economics Institute, Bard College, May 3, 2019. I’m going to talk about war, not peace, in relation to our work on the Green New Deal—which I argue is the big MEOW—moral equivalent of war—and how we are going to pay for it. So I’m going to focus on Keynes’s 1940 book— How To Pay for the War—the war that followed the Economic Consequences of the Peace. Our analysis...

Apparently the British Left is “fizzing with ideas for a smarter economy” according to the UK Guardian article (May 12, 2019) – The zeitgeist has shifted. Now the left is fizzing with ideas for a smarter economy – written by Will Hutton. I can’t say I sensed an outbreak of fizz. But in the colloquial language from where I come from, the term fizzer means “Something that promised excitement but instead was a disappointment”, Yes, Hutton’s fizzers include promoting the insights of a...