Thursday, February 25, 2021

Future Monetary Theory — Trevor Jackson

 A professor of economic history critiques MMT. 

MMT doesn't go far enough. It remains embedded in the present system, which itself is the root of the socio-economic problem the world faces. While Trevor Jackson agrees that MMT is descriptive of the present system, it remains too faithful to it to address emergent challenges. 

I have been saying this for some time but for other reasons having to do with the world system. It's past time to start thinking seriously about economic and political economy on the basis of the world system and changing world order, e.g., resulting from the growth of inequality, decolonization, and the increasing importance of systemic integration that comes along with globalization through technological innovation, the pace of which is increasing.

Future Monetary Theory
Trevor Jackson | assistant professor of economic history at George Washington University

1 comment:

Peter Pan said...

Even the present system doesn't need MMT. Social democracy has done well enough without understanding the details.