An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Monday, March 18, 2013
Tschäff Reisberg — MMTers warned about and offered solutions to prevent Eurozone bank runs
Tschäff provides documentation for the claim that MMT economists predicted current developments and showed how to avoid it.
This is what MMT critics always seem to avoid discussing: it offers (in my experience) unrivaled predictive power. In fact that is deliberately ignored. I have had so many discussion with others who insist MMT is bunk, then go completely silent once I point out my calls are almost always right, while theirs never come to pass. That doesn't happen because I'm particularly bright, it happens because MMT is a very accurate tool for macroeconomic prognostication, far more so than the neo-liberal or austrian frameworks.
This is what MMT critics always seem to avoid discussing: it offers (in my experience) unrivaled predictive power. In fact that is deliberately ignored. I have had so many discussion with others who insist MMT is bunk, then go completely silent once I point out my calls are almost always right, while theirs never come to pass. That doesn't happen because I'm particularly bright, it happens because MMT is a very accurate tool for macroeconomic prognostication, far more so than the neo-liberal or austrian frameworks.
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