If you think Greece should serve as an economic model for the United States, you’ll love modern monetary theory (MMT).(Wenning misses the inside joke: the United States is not like Greece because the US has a sovereign currency, but Greece does not) and just goes downhill from there.
[T]he superstition that the budget must be balanced at all times, once it is debunked, takes away one of the bulwarks that every society must have against expenditure out of control. . . . [O]ne of the functions of old-fashioned religion was to scare people by sometimes what might be regarded as myths into behaving in a way that long-run civilized life requires.
Saturday, September 14, 2019
Modern Greek Monetary Theory
Modern monetary theory – deficit thinking by Brenda P. Wenning: This article is by the stupidest condemnation of MMT I've seen. Well, as of today: just when you think conservatives can't sink any lower, they invent a bigger shovel. It starts off bad,
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