Thursday, October 10, 2019

Has AOC Ditched Modern Monetary Theory?

Alexandria Ocasio-Cortez
I keep seeing references to AOC's past endorsement of wacky, "just print money" Modern Monetary Theory.

For example in the New Republic, Osita Nwanevu writes in a just-published essay tilted, Spreading the Gospel of Modern Monetary Theory:
Alexandria Ocasio-Cortez gave MMT a boost this year, citing it as an idea that should inform some of the spending assumptions behind the Green New Deal and other progressive priorities. 
But I haven't seen AOC mention MMT in months. I wonder if she is still supporting it.

Indications are that she is being tutored on economics by Paul Krugman or Joseph Stiglitz or possibly both. Most of their economics is screwed up, but they are both solid on MMT-hate.

One of them, or both, likely explained to her that the theory is nuts.


1 comment:

  1. I was thinking about the silence around MMT this morning. It won't do well in the coming primaries and elections. While the theory is nuts, it'll come up again to hype the base in the off season.