[!@#$%!]

Originally Posted by The Soup Nazi

On MMT, just in general. On PK's criticism of this theory, I've read it in the New York Times and elsewhere a couple of times, but it's basically on what I posted above: https://www.investopedia.com/modern-...ry-mmt-4588060

well i've seen krugman in video (look at him on "firing line") saying that mmt doesn't do anything that keynesianism doesn't.

and i guess yeah because you can guarantee "full federal employment" through new deal type programs.

he agrees too with mmt that deficits don't matter but says that you can argue the same thing within keynesianism.

then he says (and i agree with him) that mmt lacks monetary tools. it only has fiscal tools! hahahah. which are fucking clumsy.

SO you either get deficit (fake, real) or you get devaluation and inflation. keynesianism has monetary tools for those. mmt offers "taxes".

i get the mmt paradigm, i totally do. what i don't see is a usable technology from it. the last chapter of kelton's book she says mmt is not a religion but then talks to pastors and promises pies in the sky for all.

one basic fact of economics is scarcity. we have unlimited wants and limited resources. i want to see where the limited resources meet the pavement, and how mmt deals with them.

in other words, so scarcity is not in "the deficit," that much is clear, i don' give a shit. but if so the WHERE IS THE SCARCITY? show me where it is to be found, or else it is "a religion." a religion of fiscal absolutism.