Thursday, August 01, 2019

The "danger" of MMT

The Dangerously Irresponsible Arguments of the “Responsible” Budget Gang According to Dean Baker, deficit hawks
are pushing propaganda, not serious analysis.

I got a taste of this propaganda effort first hand earlier this year when I was asked by an editor at the Washington Post to write a piece on Modern Monetary Theory (MMT). . . . [After several edits,] [t]he editor wanted me to include a needlessly snide remark from a MMT critic and had me referring to the theory as “dangerous.”

That comment left little doubt that they wanted a different column than the one I had written. MMT is dangerous? . . .

Just like the millions who mindlessly pledge allegiance to Donald Trump, [the Post's editors] will push the austerity line they have always pushed regardless of the evidence.

This really undermines the integrity of the mainstream liberal, mainstream Democratic-party economic narrative. When is criticism of MMT honest economic opinion, and when is it at best selection bias and at worst individual dishonesty?

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