My blog is on holidays until Monday, January 9, 2023

My blog is on holiday until Monday, January 7, 2023. I have lots of things to finish writing to meet deadlines and a lot of personal things to do (moving things, etc) which require travel and time. So I am using this week for that. Happy 2023 to all. I can’t say it is an optimistic outlook but hope springs eternal. To the obsessives declaring Modern Monetary Theory (MMT) is dead I urge sedatives. To those declaring Covid to be a conspiracy of big pharma, I hope you don’t catch it. To others, all the best.

Back on January 9, 2023.

That is enough for today!

(c) Copyright 2023 William Mitchell. All Rights Reserved.

This Post Has 7 Comments

  1. I wish you a Good 2023.
    As for the “MMT is dead” crowd, I leave here some “writing on the wall” that I came across one of these days: “Sometimes, people try to expose what’s wrong with you, because they can’t handle what’s right about you”.
    As for Covid conspiracy theories, I began as a believer that it was all about science, but I’m not so sure right now. After all that I read about the jab, something begins to make some sense, and it’s not a good thing.
    All the best to you.

  2. Happy new year Bill and family,

    I sincerely wish you all the best.

    There has been a dramatic shift in 2022. In the main, MMT economists have remained very quiet about these changes. Which is very understandable under the current censorship regime. You could be

    a) As academics have your funding reduced.

    b) Be banished from universities all together.

    Given the Julian Assange treatment just for speaking the truth.

    What I don’t understand is why MMT economists would side with those who have attacked them for years. Called out MMT economists as frauds, cheats and liars as they pursue their own geopolitical agenda. Biden and the squad are not MMT friendly. So why go along with their geopolitical agenda?

    I hope 2023 reflects that reality. For me it is suicide to appease the democrats in the hope MMT continues to have a voice. The democrats have never been or ever will be the place MMT’rs have a voice. The liberal left globalist, neoliberals have been our loudest critics. Fought us every step of the way.

    I read US MMT Twitter feeds who support the squad and Biden every step of the way. Who are nothing more than new Keynsian, with a job guarentee attached and not MMT’rs at all. Stick 20 American MMT’rs in a room and geopolitically they are no different from the UK Labour party or the US democrats. Who see the Tory or Republican party as the enemy, instead of the enemy from within.

    You talk about Israel and Palestine or Ukraine and Russia and it is just about a certainty American MMT’rs are going to act like new Keynsian and let other Western MMT’rs down. With two exceptions, Mike Norman and Steve Grumbine who both call a spade a spade. They know who the true enemy within really is and would never side with the enemy when the enemy choose war or peace. Fadheel Kaboub who has also experienced US foreign policy first hand is in the MMT truth camp.

    Is 2023 going to be the year when MMT’rs in the US get off the fence. Actually find the strength and conviction to condemn US foreign policy publicly. Stop taking the side of those who have attacked MMT from day one.

    Yes, As academics you might have your funding reduced. There is a very good chance you might be banished from universities all together. Revenue from your book sales might drop. Can no longer live beside a lake where the deer roam free.

    But the poor and dispossessed the world over has paid a far heavier price for your silence on US foreign po!icy than you ever would. So is 2023 the moment of truth, or is MMT America really all about book sales and supporting the democrats whatever the human cost ?

    Your silence on Ukraine is deafening. You either believe in the US rules based order of your don’t. Staying quiet to protect your own income streams simply won’t cut it anymore. Are US MMT’rs e Globalists or Westerphalians. Fixed exchange rate vs floating exchange rate. One currency vs multiple currencies. Autocracy vs democracy. For or against US foreign policy.

    Or do you just expect us to keep buying your books. So you can live by a lake where the deer roam free as you forgive the democrats and the squad regardless and watch as Julian Assange, is jailed for simply telling the truth about the US rules based order ?

    In 2023 , What is American MMT ? War or peace ? Who are you ?

  3. Happy New Year Bill, and thanks for your continuing hope and not unrealistic optimism. Your efforts were recognised the other day, 2nd January, by a Guardian Economic Opinion column giving you the last word
    I’m confident you’ll continue to ignore Derek Hendry’s lengthy diatribes and one-eyed view of American imperialism and Russian imperialism.

  4. Had to look at my calendar, Monday 7th! not here in the UK.

    Henry, I thought your comment was reasonably concise and no way a diatribe.
    How can we understand if Russia and China really want a multipolar world if the US inhibits discussion by enforcing their ‘rules based order’, hegemony and $ reserve currency on the world.
    I don’t want a BRICS reserve currency that could give China Imperial potential. Rather a system that came to understand (MMT) how Fiat currencies (in Sovereign States) with floating exchange rates could enable co-operation between countries instead of competition and war.

  5. P.S. Patrick
    Without the $ reserve currency, over 800 US military bases across the world (Imperialism) would be unsustainable.

  6. @Ucumist No need to PS me. I’m aware of US military and economic imperialism. And the evils of British and French and Spanish and Dutch etc etc imperialism/genocide. Also of Qing Dynasty and Russian imperialism/genocide. And everybody also seems to have forgotten the first act of Mao after the Civil War was to send the PLA into Tibet. Now his successor threatens to restart the civil war to restore Qing Dynasty borders. His Russian counterpart is ahead of him in their countries’ latest round of imperialistic death and destruction. Henry’s ‘You either believe in the US rules based order of your don’t’ is yet more distractive whataboutery. As for his last two paras on Bill’s book sales and living by deer roaming free baloney, disgusting. Obviously high time he stopped getting his worldview enforced by Twitter feeds.

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