Kevin Drum is clearly an apologist rather than a serious commentator. Ignore him.
So far, then, MMT has not seduced most lefty economists into becoming defenders of crank theories the way supply-side economics did on the right. Hooray for us!He is a reason that progressives that follow the line he touts will lose, or if they win, will fail. Clueless, and don't want to know.
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Thanks Tom. I spent a good part of the day at Drum's site discussing MMT with the commenters, most of whom either like MMT or know little about it (at least that's my impression). In my experience, the more people learn about MMT, the more they realize that it describes our monetary system. The people who dislike it generally dislike it because they distrust government and are therefore unhappy with the role the government plays in our monetary system (Tim Worstall, for example). Agree with your observations regarding Drum. He apparently has never taken the time to learn about MMT but rather relies on people like Krugman to do his thinking for him.
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