Richard Murphy piles on in criticizing the Richmond Fed's recent article on MMT. It was not only wrong, it was unprofessional.
Tax Research UK
If the critics of modern monetary theory want to be taken seriously they have to get their facts right
Richard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum
5 comments:
Like I posted here last week.
I stumbled across a recently published paper by Biagio Bossone recently which tries to demolish MMT:
https://econpapers.repec.org/paper/pkewpaper/pkwp2020.htm
Someone hereabouts might want to have a go at it. I certainly will in due course.
“if-the-critics-of-modern-monetary-theory-want-to-be-taken-seriously-they-have-to-get-their-facts-right”
Show me chapter and verse in the Socrates handbook where it says that …. I’m still waiting…
Under that method you can use hyperbole (“MMT says you can spend whatever you want”) all the time.,,
So they use hyperbole in their side of the dialogue (which is 100% fine to do) and then you guys say they are misrepresenting…
You are ignorantly appealing for the discontinued use of the Socratic/dialogic method is what you are doing…
Is there a difference between the Socratic method, and a no holds barred appeal to emotion?
Is there a difference between the Socratic method, and a no holds barred appeal to emotion?
According to the Western tradition, Socrates was (perhaps) the most influential of the early Greek pioneers of the rational approach that has characterized Western civilization, which according to this tradition is "reason-based." This led to the scientific method that in turn led to Western dominance. Other pioneers include the early logicians and mathematicians.
One of the basic tents of the reason-based approach is distinguishing the subjective and objective and focusing on the objective. Feeling is subjective, and observation and logical reasoning are objective.
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