In my third article about Modern Monetary Theory (MMT), I try to understand the policies of the Carney government through the lense of this new way of looking at public finance.
https://open.substack.com/pub/billhulet/p/modern-monetary-theory-part-three
I never understood the MMT and what it’s good for. The theory - if it is a theory at all - has many flaws that don’t add up in my humble opinion. It also reminds me more on Keynes (which has as many flaws imo) than on Money Theory. But that’s just my 2 cents, maybe I am wrong.
Your critique of Modern Monetary Theory does not suggest that your study of the concept has been comprehensive enough to include glancing at the Wikipedia page about it.
I see no reason why advocates of MMT wouldn’t have the same kind of reaction I do to the spending on oil pipelines, the military, the capital gains tax cut, the new ministry for AI, the new ministry for online censorship, the carbon capture idiocy — you’re spending how much on what!?
