It is likely that I will be participating (remotely) in an academic panel about Modern Monetary Theory (MMT), with a “pro” and “con” side at a Canadian academic conference. This article is my initial thinking, and is a way of soliciting feedback. The “story” behind the panel is whether we learned anything from the pandemic shock.
This is an extremely well put article on the state of MMT at the moment. I am also in the MMT camp (although I do believe it needs some work). I was thinking about writing a piece on MMT but you’ve worded what I was thinking better than I ever could. I also like your point on the inaccuracies of mathematical formulas in marco economics or the lack of any research into it. Also to the formula point, in my opinion a good formula should always be open to change. Street equity analyst have some of the worst predictions based on these “mathematical models”. Great write up!
This is an extremely well put article on the state of MMT at the moment. I am also in the MMT camp (although I do believe it needs some work). I was thinking about writing a piece on MMT but you’ve worded what I was thinking better than I ever could. I also like your point on the inaccuracies of mathematical formulas in marco economics or the lack of any research into it. Also to the formula point, in my opinion a good formula should always be open to change. Street equity analyst have some of the worst predictions based on these “mathematical models”. Great write up!