Monday, October 14, 2019

Spreading the gospel

Osita Nwanevu has a great article about MMT in The New Republic: Spreading the Gospel of Modern Monetary Theory

I had to sigh a bit reading the closing line, "Those speaking up in defense of the assumptions MMT assails would do well to consider that the hearts and minds of the public are rarely won on technicalities." The author is most certainly correct. Still, the technicalities do matter, at least to me, and the assumptions that MMT assails are actually incorrect and are indefensible not only on political grounds but also on technical grounds.

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