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> it's not an ideology or set of policies or even policy goals That might be true in the academic sense. But in reality, the only people who talk about MMT a
by stale2002 5y ago
> it's not an ideology or set of policies or even policy goals
That might be true in the academic sense.
But in reality, the only people who talk about MMT are people who just want to spend money infinitely and claim that there is no negative consequences to doing so.
Which of course, doesn't make any sense if you know anything about MMT in the academic sense, which absolutely admits that there is negative consequences to spending/money printing.
Mainstream economists don't really think MMT has much to say, TBH, and few professionals care about it.
- brimble 5y agoAs someone who took a lot of political science and economics classes once upon a time, and has an ongoing amateur interest in these things, MMT is the first time I've looked at one of these macro-level explanations/descriptions and not felt like I needed to ask a bunch of stupid questions that are (inevitably) going to be dismissed with a heaping dose of condescension. Finally, something that makes total sense when I look at how real world systems (and especially governments) behave.
- stale2002 5y agoTheories that are dismissed by the vast majority of the mainstream experts are often simple, yes. It turns out that the real world is complicated, and thats why we have experts in the world.
- willcipriano 5y agoThe world isn't that complicated. Its brutal and uncaring. We make up complicated systems beacuse we'd rather not face the pointless brutality of it all. Contrast the complexity of religious faith in life after death to the biological reality on the ground for the best example of this.
- deleted 5y ago[deleted]
- brimble 5y agoIt's less that it's simple (it doesn't really seem simpler to me than any other fundamental approaches to macro, no?) than that at least real-world behavior of governments, and changes in the world as a result of that behavior, doesn't all seem to point strongly in the direction of something about it being wrong or badly incomplete. It's simple like universal gravitation is simpler than epicycles.
- stale2002 5y agoOk and the fact remains, that the vast majority of experts in the field dismiss MMT as something that doesn't provide much of value to the field. Thats the important part here. Whatever your opinion is on any of this, basically all the actual people who know what they are talking about, disagree and think that MMT is basically valueless.
- naijaboiler 5y agoSimilar background. MMT, for me as well, is the first comprehensive explanation of money that just fits everything and makes complete sense without any glaring holes. All other theories feel like yeah... but how does it explain this phenomenon or that