Paul Krugman has a couple of posts criticizing MMT. He tries to be polite, pointing out that at the zero bound their policy recommendations are less bad than those of advocates of austerity. But deep down he must know that this model is sheer madness.
Stephanie Kelton responds, and continues the long MMTer tradition of being unable to provide a clear explanation of the ideas....Bond vigilantes.
The Money Illusion
Magical Thinking
Scott Sumner | Director of the Program on Monetary Policy at the Mercatus Center at George Mason University, a Research Fellow at the Independent Institute, and Professor Emeritus of Economics at Bentley University
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