Monday, May 4, 2020

The Problem With MMT — Willem H. Buiter

With governments searching for ways to manage the unprecedented economic fallout of the COVID-19 pandemic, the policy agenda implied by Modern Monetary Theory has become all the more appealing. Yet, insofar as MMT ignores the demand for money, it is a risky guide for policymakers.
Inflation down the road. 

"They" need a new meme. The threat now is deflation.

Project Syndicate
The Problem With MMT
Willem H. Buiter, a former chief economist at Citigroup, is a visiting professor at Columbia University.

2 comments:

Mike Norman said...

Unbelievable these people. They will never give up.

Ralph Musgrave said...

I left two or three comments after Buiter's article.

Basically I said MMTers were all smarty-pants and streets ahead of every else....:-)