Tag Archives: MMT

Likewise, Ocasio-Cortez has forced elites on both sides to at least grapple with the economic tenets of modern monetary theory. MMT, as it is known, suggests that a government with its own currency does not need to raise taxes in order to increase spending. So far MMT has faced strong pushback from elites of the left and right. But its basic contention, that deficit spending isn’t as bad as you have been led to believe, is gaining support. These two propositions — that the government...

What the Davos crowd is talking about.SFGateAmong some in Davos, debate over Ocasio-Cortez's proposed 70 percent tax on rich is overHamza Shaban, The Washington Post See also NY PostHow elite financiers feel about Ocasio-Cortez's proposed wealthy tax Jaron Steinbuch

So longer just "socialist"! Now it is "pseudo-communist." Some people are becoming really unhinged! No wonder she wants to criminalize Michael Bloomberg’s wealth (though not his politics or campaign contributions) and supports something called “Modern Monetary Theory” — which says that every time the government spends $10 but only collects $8 in taxes to pay for it, you’re actually up two bucks. MMT says that the government owes it to the people to just keep printing money to pay for all...

Brad DeLong has written a primer on Modern Monetary Theory (MMT), and just gave an important lesson about MMT: if you want to understand MMT, you need to read a primer written by a MMTer. I am not going to hold myself out as an expert on DeLong's thinking, but I would argue that a fear of bond market disruptions is a constant theme in his writings. Bond Economics If You Want To Understand MMT...Brian Romanchuk

This is the second and final part of this cameo set, which aims to clear up a few major blind spots in peoples’ embrace with Modern Monetary Theory (MMT). This is all repetition. I don’t apologise for that and it does not reflect a slack or bad editorial approach from yours truly as some critics have claimed. Repetition is how we learn. Reinforcing things in different ways (aka repetition) helps people come to terms with concepts and ideas that give them dissonance. MMT is certainly about...

Not bad for a critical article. Looks like the days of just mocking MMT are about over. Now critics have to be careful of looking foolish.National Review‘Modern Monetary Theory’: Helpful but Prone to Misuse Alan Cole

I attempted to link directly to the source of the post, which ZH crossposted, but got the message that the site''s bandwidth limit had been exceeded. Apparently MMT is going viral. AOC is a big deal. She has changed the national conversation.The "criticism" is pretty standard, from the gut rather than the head. Dealing with the truth is hard.Zero HedgeThe Disturbing Rise Of Modern Monetary Theory (MMT)Mark Jeftovic via Guerilla-Capitalism.com

Strain and Veuger never try to meet the burden they set for themselves with their frenzied rhetoric. The key test of a theory’s validity is its predictive ability. A theory that is so weak that it is a “joke” made by “luna[tics]” should collapse as soon as its predictive ability is tested. What predictive failures do Strain and Veuger demonstrate MMT scholars have made? None. What predictive failures do they attempt to show MMT scholars have made? None. That failure even to attempt...

Things seem to come in cycles. We have been at this for some years now – trying to articulate the principles of Modern Monetary Theory (MMT) in various ways in various fora. There is now a solid academic literature – peer-reviewed journal articles, book chapters in collections, and monographs (books) published by the core MMT group and, more recently, by the next generation MMT academics. That literature spans around 25 years. For the last 15 odd years (give or take) there has been a growing...

William K. Black January 17, 2019     Bloomington, MN AOC# drives Republicans berserk.  Booing her, and only her, at the ceremony admitting the members of Congress, raging at her for dancing – yes dancing – in a college video, and attacking her for having a nickname (“Sandy”) in high school demonstrate the degree of derangement and the pathetic ammunition they have found in their failing efforts to discredit her.  MMT has become an indirect beneficiary of this derangement.  AOC# has...