Saturday, September 24, 2022

Squawking About MMT — Stephanie Kelton

It’s one thing when a bombastic TV personality goes on a mini-rant about “printing money” but it’s another when fellow scholars and academics go along with the misrepresentation of MMT. Pointing to some basket case economy—the Weimar Republic, Zimbabwe, Argentina, Venezuela, Sri Lanka, Turkey, or even the UK—and squawking about MMT might make for entertaining television, but you’re telling on yourself when you demonstrate such willful ignorance....
How much is due to ignorance and how much about attacking a challenge to the conventional narrative?

The Lens
Squawking About MMT
Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders


Matt Franko said...

Seems to me (outside looking in) Platonist methodology allows for misrepresentation as part of a rhetorical refutation of the others thesis.. we can see it happening all the time like this..,

Matt Franko said...

“ Most of us are familiar with the Straw Man fallacy, and its sister the Principle of Charity. There's a rhetorical device which runs the opposite way, though, where (e.g.) Alice may claim that arguments made against her positions by Bob in fact misrepresent her opinions and positions, but Alice offers no additional clarification. ”

Seems like it’s allowed…

Why the outrage?

Peter Pan said...

Principle of Fauci:
Arguments made against his positions are an attack on science, but Fauci offers no additional clarification.

mike norman said...

"How much is due to ignorance and how much about attacking a challenge to the conventional narrative?"

A lot of both.

Ignorance is the root cause of fear. And they fear a challenge to their dogma.