Conversation

Poll: What do you think of MMT?
  • Solid ideas
    15.3%
  • Insincere bullshit
    10%
  • Wishful cluelessness
    29.9%
  • Wtf is MMT?
    44.9%
871 votesFinal results
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Replying to
I think that MMT is an interesting reframe with two major truths: (1) It's the real economy stupid, and (2) monetary/fiscal policy is just fiat power by abstracted means.
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My interactions with their community have been pretty poor so far. It seems like MMT is adding epicycles to essentially do automatic Keynesian spending (via jobs guarantee, etc.) / taxing the rich / externalities.
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That said the idea that printing money != inflation and that we shouldn't think of the national debt as a complete limiter seems to both be true, ie the real economy / productivity actually drive what you can spend and modest inflation could be kept within limits.
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My fear though is that they don't have "advanced" FAQs that I've seen. Nothing addresses: the affects MMT would have on dollar as reserve currency, what their assumptions on the limits of MMT to gov't spending actually are, how governance could limit political meddling, etc.
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There's plenty of jobs we could do. Their jobs guarantee idea would have gov't jobs created automatically during downturns, but the issue I have is that there's no policy I've heard them describe that has accountability for those programs.
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