My blog is on holiday today and did some travelling
It is a public holiday in Australia today for some reason and I had to do a lot of travelling back and forth to airports etc. So my blog will reappear on Wednesday as usual. I will soon announce something that I think will be of interest to the regular readers.
Another article about MMT that’s both misleading and just plain wrong.
https://www.thenewdaily.com.au/finance/2024/04/01/alan-kohler-monetary-theory
Kohler is quoting Kelton and she appears to be more interested in her own version ofMMT rather than simply sticking with MMT as Mitchell, Wray, and Mosler founded and developed it.
Big mistake.
“Big mistake.”
So what did Prof. Kelton say that was wrong? A coherent argument needs to include this.
But as Kelton then went on to say, there is a limit – it’s inflation. “There is only so much room in the economy to absorb higher spending. That’s the constraint …”
What about available resources, what about environmental sustainability, what about the role of the BSE?
She’s basically playing the game in monetarist / modern Keynesian terms and damaging all the good work Wray, Mosler, and Mitchell have done.
‘Big mistake’
Educators educate, they never bite.
trollers troll, only biting their backsides.
Dear Michael,
I’m not trolling. In the past I thought Kelton was doing a fabulous job – but in recent years I think she’s started drifting in another direction.
Maybe I’m wrong.