Comments On Tavlas' MMT Critique — Brian Romanchuk

Having finished off the publishing tasks on "Modern Monetary Theory and the Recovery," I am now turning to some MMT critiques that popped up too late for inclusion in the book. The first is by George S. Tavlas, the Alternate to the Governor of the Bank of Greece on the European Central Bank’s Governing Council, which is titled "Modern Monetary Theory Meets Greece and Chicago." It contains a broad overview critique of MMT, which overlaps discussions found within my book. Of more interest was the discussion of Greece.

Unfortunately, I had skimmed over most of the article when I first read it, since a lot of it seemed to be boilerplate that I have seen variants of hundreds of times before. However, once I started digging into it to write this response, I was shocked at the weakness of the discussion. Instead of dropping the article, I decided to publish this to provide yet another horrible example of the failings of senior mainstream economists in engaging with heterodox economics....

Bond Economics
Comments On Tavlas' MMT Critique
Brian Romanchuk