I have a fairly busy day ahead of me. There is not more time for blogging for a bit.
However, might I commend two articles on Progressive Pulse, which I am also the publisher of? The first is a typically frank appraisal of Brexit by Sean Danaher, whose opinions I have long appreciated on this and other issues.
The second is a consideration of MMT and the job guarantee by Ivan Horrocks, which I also appreciated.
Both are well worth reading.
And might I commend regular commentators here to consider writing for Progressive Pulse? You know who you are.
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Can I be a pedant here? (I’ll find out!) And say that there is nothing wrong with the title modern monetary THEORY. A theory is a working solution to a hypothesis, it is an end result (e.g the theory of special relativity – this theory is used to make gps satellites functional, in simplistic terms). What the issue is, is that people commonly use the word ‘theory’ to mean ‘hypothetical’, incorrectly. So MMT may not be the best name because of the concept it evokes, but it is entirely correct in relating a workable solution, if you know the correct meaning of the word theory. It would be nice that anyone promoting MMT understood that meaning? (Re one of your links above).
I agree…but if most people do not understand that it does not work….
Indeed. It’s about as much a theory as the biopsychosocial ‘model’ is a model.
A timely nudge. Thanks Richard.