Bad Medicine Root Cause Analysis: Abstractions Are Killing Us
Abstractions are invented and agreed upon by us but often become runaway Frankenstein’s monsters when we forget that we made them up.
MMT Rebuttal
If You Really Care About Social Security, Stop Capitulating To The Left
Let’s start telling the truth about Social Security. We are educators. So let’s educate people on the basic facts.
Weimar Republic Hyperinflation Through a Modern Monetary Theory Lens
In this article, we dispute the mainstream view that the inflation of the Weimar Republic was caused by a proactive expansion of the stock of money by the German government acting in concert with the Reichsbank.
MMT 101: Response to the Critics Part 3
In this piece, we study the interaction between the government and nongovernment sectors while retaining the consolidation hypothesis.
MMT 101: Response to the Critics Part 2
MMT is frequently criticized for consolidating the treasury and the central bank. In this post, we will address these issues by tackling problems surrounding the nature of money and the role of taxes, and by beginning to deal with the consolidation argument.
MMT 101: A Reply to Critics Part 1
This is Part 1 of a six part series in which we deal with critics of MMT. As readers of this blog know, our critics continually raise the same old tired critiques of MMT.
Taxes for Revenue are Obsolete
“All federal taxes must meet the test of public policy and practical effect. The public purpose which is served should never be obscured in a tax program under the mask of raising revenue.”
Why Government Spending Can’t Turn the U.S. Into Venezuela
When poor countries fall prey to inflation, it’s not because they’re “too socialist.” The rising popularity of modern monetary theory (MMT) has inevitably brought misconceptions.
The Mismeasure of Macro
Sloan strives for one more scare tactic. MMT will cause the United States to lose its reserve currency status and all the foreign bondholders will dump their treasury securities. This may sound scary to the average reader but those versed in bond markets will immediately see through the farce.