Surreal! But 100% correct on MMT snake oil.https://twitter.com/LHSummers/status/1490424198162006018 …
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Replying to @DougHenwood
Meh. Whatever one thinks of MMT, this sort of gatekeeping will (despite Summers proviso) make it harder for heterodox economic ideas to get a hearing.
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Replying to @HeerJeet
MMT is snake oil and don’t insult Marxism or post-Keynesianism by associating them with it.
3 replies 2 retweets 7 likes
Replying to @DougHenwood
In a time of ferment, its usual for snake oil theory & cranks to flourish along with good ideas (the rise of original Keynesianism came with social credit, technocracy etc). I think gatekeeping of the type Summers proposes bottles up a necessary sorting out process.
6:57 AM - 7 Feb 2022
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