Like most of his other efforts, it ends in disaster.
Murphy tells us that he understands the point of MMTers that the government is not revenue constrained, yet his major attempt to refute MMT is an analogy (from 14.05) where he just assumes that the government is like a private household. The analogy also bizarrely assumes that government deficit spending is not just immoral but criminal, in a totally absurd example of begging the question by assuming the truth of libertarian ethics.
Social Democracy For The 21St Century: A Post Keynesian Perspective
Robert Murphy at Sea on MMT
Lord Keynes
Lord Keynes
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