I had this letter in the FT this morning in response to a piece from Gavyn Davies, which continued the standard neoclassical economist's tradition of entirely missing the point about modern monetary theory….Tax Research UK
In the FT this morning: modern monetary theory is the answer to the new normal
Richard Murphy | Professor of Practice, International Politics, School of Social Sciences, City, University of London; Director, Corporate Accountability Network; Co-founder, Green New Deal
Wow!
ReplyDelete'MMT only fails if you look at it through the lens of conventional macroeconomic objectives. Looked at on its own terms MMT works, and is the long-term solution that the world’s failing economies need.'
Professor Richard Murphey
'MMT only fails if you look at it through the lens of conventional macroeconomic objectives. Looked at on its own terms MMT works, and is the long-term solution that the world’s failing economies need.'
ReplyDeleteI wonder if this is what Egmont is missing?