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HeerJeet's profile
Jeet Heer
Jeet Heer
Jeet Heer
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@HeerJeet

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Jeet HeerVerified account

@HeerJeet

1. Writer, The Nation https://www.thenation.com/authors/jeet-heer/ … 2. email: jeetheer1967 at gmail dot com 3. Twitter essayist 4. Drawn by Joe Ollmann

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Joined June 2012

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    1. Jeet Heer‏Verified account @HeerJeet 13 Mar 2019

      Why is it that the more I read about Modern Monetary Theory (MMT) the less I understand what it is?

      71 replies 28 retweets 420 likes
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      Jeet Heer‏Verified account @HeerJeet 13 Mar 2019

      So, as far as I can make out MMT is Keynesianism with a more belligerent YOLO attitude. Is that right?

      8:42 PM - 13 Mar 2019
      • 36 Retweets
      • 341 Likes
      • Allseated JaneliaSoul #IAmBold noydb Mark Needham Mike Trout Kyle sashⒶ tommy Patrick Schoettmer
      30 replies 36 retweets 341 likes
        1. Jeet Heer‏Verified account @HeerJeet 13 Mar 2019

          Keynes. "In the long run, my dear chap, we're all dead." MMT: "Fuck it! We're all gonna die soon. Let's just crank up the printing press!"

          36 replies 22 retweets 305 likes
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        2. (((Jeremy Posner)))‏ @jmp_nyc 13 Mar 2019
          Replying to @HeerJeet

          Except of course that Keynes advocated for running a surplus in the boom years to pay for the deficits in the down years.

          1 reply 1 retweet 4 likes
        3. Ian 'pass AB2053' Monroe  🚰 🏗‏ @eean 13 Mar 2019
          Replying to @jmp_nyc @HeerJeet

          MMT advocates raising taxes to keep inflation down, same thing

          1 reply 0 retweets 1 like
        4. End of conversation
        1. New conversation
        2. mind of mencius (still @theophite)‏ @Theophite 13 Mar 2019
          Replying to @HeerJeet

          more or less. the big difference is that in economics, there are things which are mostly treated as variables and things which are mostly treated as constants, and MMT suggests that there would be advantages to swapping the treatment of the variables and constants.

          1 reply 0 retweets 5 likes
        3. mind of mencius (still @theophite)‏ @Theophite 13 Mar 2019
          Replying to @Theophite @HeerJeet

          basically, consumer demand and government demand are both fulfilled by a common pool of supply. when we tax, we're pulling from consumer demand to satisfy government demand. but we could do it the other way, instead: print money to fill government demand and increase inflation.

          0 replies 0 retweets 3 likes
        4. Show replies
        1. james_roe‏ @james_roe 13 Mar 2019
          Replying to @HeerJeet

          The important take away is that all economics is phrenology.https://www.wired.com/story/econ-statbias-study/ …

          1 reply 1 retweet 2 likes
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        2. Anlin Wang‏ @AnlinWang 13 Mar 2019
          Replying to @SpaghettiKozak @HeerJeet

          Exhibit A is the persistent US practice of running high deficits over the past 2 decades while inflation has stayed flat at 2 percent for the past decade

          1 reply 0 retweets 4 likes
        3. End of conversation
        1.  🍍Tommaso Sciortino 🥑‏ @TommSciortino 13 Mar 2019
          Replying to @HeerJeet

          Yes, but if you say that they get mad.

          0 replies 0 retweets 6 likes
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        1. Seán Kołodziejczyk‏ @kological 13 Mar 2019
          Replying to @HeerJeet

          I see MMT as the Left playing chicken with the Right. The Left shouldn’t have to worry about fiscal responsibility. Our job is to expand social services, government, provide redistributive public services. If we go too far, let the right raise taxes and cut spending.

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