Saturday, January 19, 2013

From Bill Mitchell's MMT FAQ

In March 2012, Bill Mitchell answered a barrage of questions about MMT, but these questions keep coming up. Here is a list of the questions along with a link to Bill's answers:
Question 1: Do you think that MMT might be compatible with small government and low taxes, or is it inherently biased towards big government and high taxes?

Question 2: If MMT was fully implemented would it always involve some form of the Job Guarantee?

Question 3: Does MMT require a degree of nationalisation (that is, of banks/ corporations) and strict regulation, or is it compatible with no nationalisation and a more hands-off approach to regulation?

Question 4: Would you say that MMT economists have different political and ideological positions, or are you all more or less the same?

Question 5: Do the main MMT economists have different understandings of what MMT is or of how it could be implemented?

Question 6: What do you think was the primary cause of the current crisis?

Question 6: Why did so many economists and politicians not see the crisis coming? Was it predictable?

Question 7: At first, the banks were bailed out by governments in one way or another. Was that decision correct?

Question 8: After the bailout, some Keynesian policies were applied in several countries, was that decision correct? Did it work?
Bill Mitchell — billy blog
Questions and Answers 3
Bill Mitchell

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