Thursday, December 7, 2017

Alex Hughes — Economists in 2017: What Can They Agree On?

MMT is mentioned, but the author buys into the criticism of MMT based on assuming central bank and Treasury consolidation, and he misses the key concept of Treasury issuance being a reserve drain in his criticism. He mentions Stephanie Kelton and gives a shout out to Scott Fullwiler, too. The post is also interesting as a look at popularized economics.

Hughes cites an Izabella Kaminska post at FT Alphaville on MMT that is worth reading or re-reading as the case may be:  Why MMT is like an autostereogram. Kaminska cites a previous post of hers, but the link is broken. Here it is:  Yes Virginia, there really is Modern Monetary Theory. This later post has a couple of excellent quotes by Stephanie Kelton and Michael Hudson.

The Market Mogul
Economists in 2017: What Can They Agree On?
Alex Hughes

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