Tag Archives: MMT

This is the breakthrough point for MMT. When Ray Dalio says something is going to happen, it is. So you probably want to read this in full.LinkedInIt’s Time to Look More Carefully at “Monetary Policy 3 (MP3)” and “Modern Monetary Theory (MMT)” Ray Dalio | Co-Chief Investment Officer and Co-Chairman, Bridgewater See also Capitalism is no longer working for most Americans, according to one hedge-fund billionaire, who says the expanding wealth gap dividing the haves and have-nots is...

In – The austerity attack on British local government – Part 1 (April 30, 2019) – I examined the way in which the central government austerity had impacted on the major service areas in Britain and considered some of the motivations that have been driving this agenda. In this Part, I am examining the way in which these cuts have been distributed at the local government level. How their grants have been cut and how they have been forced to rely on their own income bases to maintain a...

So, you have to tune out all of this MMT hippie-punching. That’s politics. Now, you don’t have to agree 100% with the MMT framework. The real question is, first and foremost, what parts of MMT make sense as a descriptive framework. That means understanding the framework and ignoring the policy prescriptions, where all of the vitriol is focused. One basic thing that works for me: Chartalism In March, I tried to show you where MMT dovetails with the economics of six economists of repute. I...

Marx, MMT, wage labor and surplus value.Bill Mitchell – billy blogMarxists getting all tied up on MMT Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, AustraliaSee alsoThe Radford Free PressA Quick Note: Utopian or Real? Peter RadfordAlsolibcomThe Iron Fist Behind Exchange: The Problems With The Freed Market Ivysyn

I had this letter in the FT this morning in response to a piece from Gavyn Davies, which continued the standard neoclassical economist's tradition of entirely missing the point about modern monetary theory…. Tax Research UKIn the FT this morning: modern monetary theory is the answer to the new normal Richard Murphy | Professor of Practice, International Politics, School of Social Sciences, City, University of London; Director, Corporate Accountability Network; Co-founder, Green New Deal...

Readers are probably aware that there is quite a lot of discussion of Modern Monetary Theory (MMT) and the potential for fiscal experimentation batting around at the moment. Others have weighed in on this already, and I have little to add. It is striking, however, that most of the push-back — where there is push-back — is not focused on trying to discredit the idea that we should engage in fiscal experimentation. Indeed, the notion that we should engage in fiscal experimentation seems to...

Crossposted from Phil Pilkington’s Blog – Fixing the Economists. Readers are probably aware that there is quite a lot of discussion of Modern Monetary Theory (MMT) and the potential for fiscal experimentation batting around at the moment. Others have weighed in on this already, and I have little to add. It is striking, however, that most of the push-back — where there is push-back — is not focused on trying to discredit the idea that we should engage in fiscal experimentation. Indeed,...

Silly question? Brian is responding to someone who asserted that in effect government does.  Actually, it used to be that government confiscated property to move it to government use, but that is no longer considered "proper," unless the police do it on other pretexts. In a monetary production economy, taxes are payable in "money," that is, the government's currency. What David Andolfatto apparently means is that one's purchasing power declines as a result of taxation, which is true....

Another quote from the recently published MMT textbook. Lars P. Syll’s BlogThe interest rate fallacyLars P. Syll | Professor, Malmo University

Very brief first impressions. Bond Economics Initial Comments On The New MMT Macro TextbookBrian Romanchuk