Bill Mitchell — Mmt Is Simply Patently Onetime Bad Economic Science – Business Office 2

I am surprised at the hostility that Part 1 inwards this serial created. I convey received a lot of E-mails nearly it, many of which contained merely a few words, the most recurring beingness Turkey! One graphic symbol manifestly needed to better his/her spelling given that they idea it was appropriate to write along the lines that I should merely ‘F*ck off to Terkey’. Apparently Turkey has larn the novel poster youngster to ‘prove’ Modern Monetary Theory (MMT) wrong. Good try! I besides notation the Twitterverse has been alight amongst attending seekers berating me for daring to comment on the form of advice British Labour is receiving. Well hither is Part 2. And because y'all all liked it thus much, the serial has been extended into a three-part serial because in that place is a lot of special to function through. Today, I revisit the financial dominion issue, which is a necessary pace inwards refuting the claim that MMT policy prescriptions (whatever they mightiness be) volition drive the British pound into worthless oblivion. And, y'all know what? If y'all don’t similar what I write as well as brand available publicly without charge, thus y'all convey an slowly pick – don’t read it. How slowly is that? Today, I confirm that despite attempts past times around to reconstruct Labour’s Fiscal Rule every bit beingness the exemplar of progressive policy making, its roots are nub neoclassical economic science (which inwards pop parlance makes it neoliberal) as well as it creates a dependence on an always increasing accumulation of somebody debt to sustain growth. Far from solving a non-existent ‘deficit-bias’ it creates a somebody debt bias. Not something a Labour authorities or whatever progressive authorities should aspire to....

Bill Mitchell – billy blog
MMT is merely champaign sometime bad economic science – Part 2
Bill Mitchell | Professor inwards Economics as well as Director of the Centre of Full Employment as well as Equity (CofFEE), at University of Newcastle, NSW, Australia