MMP Blog #41: MMT for Austrians Part 4: Is Description Without Theory, Ideology or Policy Desirable? Is it Even Possible?
The answer to both questions posed in the title is, I think, a big fat no.
The answer to both questions posed in the title is, I think, a big fat no.
As Carney and others lay their proposals out on the table so that we can see what kind of government they want, the reaction by most people is sheer horror.
A response to John Carney’s published works because I think they are the most cogent MMT critiques the Austrians have to offer.
MMT is not just for advocates of big government. I have always been surprised that some of the most vehement critics of MMT are libertarians and Austrians.
The public purpose is an evolving concept. The national government must play an important role in society as it helps to identify the social purpose and to establish a social structure in which individuals and groups will work toward achieving the public purpose.
I will be making policy recommendations that are consistent with MMT. You do not have to like mine; you can come up with your own.