Daily Archives: February 19, 2012

MMT Had a Banner Day

By Mitch Green

Via Animals Explain Economics

MMT received some love from the mainstream press today.  WashPo ran a story titled, “You know the deficit hawks.  Now meet the deficit owls.” via Ezra Klein’s Wonkblog.  Jared Bernstein, Dean Baker and Kevin Drum have each responded with a few words regarding their take on MMT.  For the initiated, this comes as a welcome surprise:  First they ignore you, then they ridicule you, then they run a story about you in the Washington Post.

Every now and again the planets align, and we are presented with an opportunity to do what just moments earlier seemed out of grasp.  There is now space for MMT to influence policy debates beyond the fringes of the blogosphere.  The time is ripe to clarify and strengthen MMT, especially given that as it spreads through new channels we are bound to encounter misinterpretations of our central positions.

It is also important to bear in mind that as MMT spreads beyond the confines of its corner of the blogosphere, we are likely to encounter hostile or opposing views.  Remember to be patient:  you’ve studied this stuff for awhile now; stay classy and offer resources where appropriate.  It’s easy to lose our sense of civility when we forget that at the end of a long chain of cables, routers and wireless cards are two human beings trying to have a conversation.


Via WaPo

MMP Blog #37: The Public Purpose

By L. Randall Wray

The households and business firms in a modern capitalist economy make many of the important economic decisions that contribute to determination of the level of employment and output, the composition of that output, the distribution of income, and the prices at which output is sold.

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