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MMT is a rationalization for unlimited spending & economic control. Do you really think AOC, Warren, Sanders actually understand the theory of MMT which they ad
by holymacaral 8y ago
MMT is a rationalization for unlimited spending & economic control. Do you really think AOC, Warren, Sanders actually understand the theory of MMT which they advocate (if not by name)?
The MMT theorists began with the conclusion they wanted and concocted a theory to get there. This is policy shaping theory at its finest.
- airstrike 8y agoIt's also such a disingenuous name – "modern" monetary theory. To the layman, it automatically reads like a new and improved understanding of Economics, when in reality it's just another theory, and not even a very mainstream one at that.
- chombier 8y agoIt started as a joke. It's called "modern" because it only applies to the past 4000 years. https://www.nakedcapitalism.com/2018/10/randy-wray-modern-monetary-theory-came-mmt-include-mmt.html https://www.nakedcapitalism.com/2018/10/randy-wray-modern-mo...
- airstrike 8y agoThat might very well be an interesting bit of trivia but it doesn't make it less disingenuous
- kaycebasques 8y agoBased on the names that you supplied, I'm guessing that you assume that MMT is a left-wing idea. I think the bigger reason to pay attention to it is because it has support on both sides of the American political spectrum. Read The Macro Tourist's post [1] for a pragmatic trader's take on the matter. He also suggests that Trump is already an implicit proponent of MMT, what with his increased spending and decreased tax revenue. [1] https://www.themacrotourist.com/posts/2019/01/23/mmt/ https://www.themacrotourist.com/posts/2019/01/23/mmt/
- morningmoon 8y ago"implicit proponent" is an oxymoron.
- kaycebasques 8y agoI get what you mean based on the dictionary definitions of implicit and proponent. What I meant was that his actions are aligned with MMT theory, even though he probably doesn't explicitly subscribe to the theory.