Modern Monetary Theory

I am interested in Modern Monetary Theory (MMT). I have not studied MMT in an academic setting; my training as an economist is in applied microeconomics. I am not affiliated with the University of Missouri, Kansas City, apparently the hub of MMT research. Any errors in my analyses or descriptions of MMT are my own.

Introduction to MMT

MMT Responds to Brad DeLong’s Challenge

See the end of this post for a list of MMT works: MMT, Models, Multidisciplinarity

Modern Monetary Theory, explained

Favorable MMT Articles

Modern Monetary Theory continues to gain traction in the US

Bank on the People Instead of Wall Street Parasites

It’s Time to Look More Carefully at “Monetary Policy 3 (MP3)” and “Modern Monetary Theory (MMT)” (via Bloomberg)

Wonky MMT Stuff

What Do Banks Do? What Should Banks Do? A Minskian Perspective

Critiques of MMT

What’s Wrong With Modern Money Theory (MMT): A Critical Primer

At first glance, the above paper looks like "heterodox economics is heterodox", but it is more substantive than Palley's bad faith argument below.

Bad Faith Arguments against MMT

Smith, Noah. Examining an MMT model in detail. 31 Mar 2019. Noahpinion blog.
analysis by Pavlina R. Tcherneva

Palley, Thomas. Macroeconomics vs Modern Money Theory [pdf]: Some unpleasant Keynesian arithmetic. April 2019. Post-Keynesian Economics Society.

Jones, Russell and John Llewellyn. MMT: new wine in old bottles or ‘voodoo economics’?

Note: The Farcical Critiques section was getting too big. I'm going to include only the more serious stuff.

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