I've accepted a position as Chief Economist on the Senate Budget Committee.
— Stephanie Kelton (@StephanieKelton) December 26, 2014
Kelton was an associate professor currently chairing the Department of Economics at the University of Missouri–Kansas City.She is editor-in-chief of the New Economic Perspectives blog. From the blog:
Our approach, which has been dubbed “Modern Money Theory” or “The Kansas City Approach,” builds on the work of Abba P. Lerner, John Maynard Keynes, Hyman P. Minsky, Wynne Godley and other important figures of the past. Above all, we are careful to provide analyses and policy recommendations that are applicable under a modern, fiat money system.
For the problems with Modern Monetary Theory see:
Why MMT Needs to be Attacked by Austrians
Getting in the Middle of an MMT Debate
The Financial System is Saturated with Ticking Time Bombs Waiting for a Catalyst
A Refutation Of Mosler Economics And Mosler's 7DIF, Part I
A Refutation of Mosler Economics and Mosler's 7DIF, Part II
A Refutation of Mosler Economics and Mosler's 7DIF, Part III
A Refutation of Mosler Economics and Mosler's 7DIF, Part IV
A Refutation of Mosler Economics and Mosler's 7DIF, Part V
[aka Stargazer] In a perfect world governed by perfect people, MMT (what I call Magical Monetary Thinking) might work. In the real world, not a chance.
ReplyDeleteI don't think MMT could ever work. Maybe I'm misunderstanding them, but they just seem like crazed inflationists.
ReplyDeleteShe'll be the Democrats' chief economist -- http://www.washingtonexaminer.com/sanders-names-deficit-owl-his-chief-economist/article/2557903 -- Felix B.
ReplyDelete