Richard Murphy has always said that MMT supporters do not properly understand tax and Jonathan Portes seems to me, on the evidence of this article, to fall into the same category.
What Jonathan Portes misses is that the ‘financial constraints’ are self-imposed. It’s bad enough – in reality – being short of teachers, nurses and doctors. But having bogus self imposed financial constraints is just – well – self imposed.
Finance is man made.
Jonathan Portes, as a former Treasury civil servant, seems, regrettably, to suggest that finance should make man....Progressive Pulse
MMT as nonsense economics – or not
Peter May
