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Ah yes, MMT, classic discredited concept, unlike classic synthesis theory that has been completely unable to predict modern economic responses and can't explain
by amrocha 4y ago
Ah yes, MMT, classic discredited concept, unlike classic synthesis theory that has been completely unable to predict modern economic responses and can't explain the 3rd largest economy in the world.
You do know mainstream economics isn't science right? Because it's completely unable to prove anything it predicts
- concinds 4y agoTo quote Jim Rickards: "economics is a science but most economists aren't scientists." DSGE is bunk, so is the Phillips curve, so is the EMH (more finance than economics), so is a whole bunch of stuff. I subscribe to complexity economics, not the standard model. But MMT is even worse than the mainstream stuff. Even central bankers think it makes no sense (https://publications.banque-france.fr/en/meaning-mmt https://publications.banque-france.fr/en/meaning-mmt).