Tag Archives: Rogoff

The New Keynesian monetary mainstream has brought out the big guns. Paul Krugman, Kenneth Rogoff, and Larry Summers have come out to shoot down the rising star known as “MMT,” which stands for Modern Monetary Theory. For a while, it was academically convenient to withhold paying any public attention that could foster competition in the field. Like other non-mainstream ideas in economics, MMT was simply ignored by our star mainstream economists, who are always ready and keen to lend...

Michael Stephens | February 4, 2019 Public interest in Modern Monetary Theory (MMT) is undergoing a new growth spurt, and progressive politicians are playing a key role in the current phase. Rep. Ocasio-Cortez recently referenced the heterodox framework to push back against the assumption that her ambitious policy proposals must, as a matter of financial necessity, be made budget-neutral (an assumption, as Brendan Greeley...

Work for whom? That's what Martin Sandbu (subscription required) asks in the Financial Times. In his view, it might. He cites Ken Rogoff -- of spreadsheet fame -- who also has said that it's a possibility. Sandbu cites Summers doubts on Trumponomics, which are all based on supply side factors, but has very little to say about that.* Like Rogoff, Sandbu thinks that what matters is private investment that matters, meaning demand, and, as it must be in these cases, the confidence fairy...