Answers from the MMTers
Jared Bernstein, longtime economic advisor to Joe Biden asked the MMT academics some questions. They answered.
Jared Bernstein, longtime economic advisor to Joe Biden asked the MMT academics some questions. They answered.
Have you recently discovered MMT or Modern Monetary Theory and want to learn more but aren’t sure where to start? Well, start at the beginning, of course!
Discussions of inflation are often laden with an air of superstition and moral panic. Like all such things they can only persist in the face of misunderstanding and rumor.
There really is only one way to go, and we can only get there by all rowing in the same direction at the same time and forcing the federal government to enact, and fully fund, single-payer healthcare – Medicare For All.
Given the relationship between “money” and real resources, it is impossible to equitably “share” real resources, and effectively create collective goods, when money is a scarce commodity controlled by competition.
Admit that taxes don’t “pay for” anything and that all government spending is paid for in one way and one way only—the Federal Reserve credits the appropriate bank accounts.
So join me in this struggle, it’s my final plea. I’ll die trying if I have to, for this better future is within reach, and it’s yearning to be set free.
Beardsley Ruml wrote in 1946 that taxes for revenue are obsolete. So what ARE they for?
It is certain that no government anywhere, ever, has committed so much to benefit so few.
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.