Archive for MMT

Murphy Twin Spin

I recently was a guest on Scott Horton’s show (talking about the Fed and lockdowns) and also The Great Exchange talking about MMT.

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BMS ep 131: Rohan Grey Deep Dive on MMT and Trillion Dollar Platinum Coin

In the intro, I explain how this interview came to be. It’s long, but I think it helps if you want to understand the MMT camp. Audio here, video below.

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BMS ep 128: Narration of My MMT Review

I read my recent review of Kelton’s new book, if you prefer audio.

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MMT Disputes

Regarding my recent review of Kelton’s MMT book, Transformer here in the comments writes: I just realized that the disconnect is that Bob is interpreting the phrase ‘how many dollars the federal government has added to people’s pockets without subtracting (taxing) them away’ in a way different to what (I think) Kelton intended. I believe […]

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My Exhaustive (Exhausting?) Review of Stephanie Kelton’s New MMT Book

Jeff Deist urged me to review this, and I’m glad he did. An excerpt: I’ve got good news and bad news. The good news is that Stephanie Kelton—economics professor at Stony Brook and advisor to the 2016 Bernie Sanders campaign—has written a book on modern monetary theory (MMT) that is very readable and will strike […]

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Bernie Jackson on a Flaw with MMT Analogies

Or rather, why Warren Mosler’s analogies don’t do what Mosler thinks. (For context see my interview with Warren.) Bernie Jackson emailed me (and said I could reproduce) the following: MMT’s referee & ticket analogies fail on their own terms and illustrate the MMT flaw! Bob, When the referee puts points on the board, the points […]

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Potpourri

==> The latest Contra Krugman tackles Modern Monetary Theory (MMT). ==> Wendy McElroy writes about privacy and the (modern) connection to cryptocurrencies. ==> A few people on Twitter were giving me a high-five for my old article on trade deficits and fiat currency. I re-read it and thought, “I agree. That *was* a good article.” […]

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Krugman: “Fiat Money…Is Backed By Men With Guns”

Wow, you really have to hand it to Paul Krugman. In the quick snippet below, he talks to Joe Weisenthal about Bitcoin. Krugman reiterates his surprise that it has lasted this long, but admits that it’s theoretically possible for an asset not backed by anything to chug along because of a self-fulfilling prophecy. However, Krugman […]

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