Saturday, October 10, 2020

Top MMTer Really Just Thinks You Can Print Money Out of Thin Air to Solve Economic Problems

Stephanie Kelton 

Stephanie Kelton, author of The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy, put out this tweet on Friday.

As I write in Problems With Modern Monetary Theory: A Comment on Stephanie Kelton’s "The Deficit Myth", the MMTer elevator pitch is print, print and print money. Her book claims that, well, there is a deficit myth, because the government can just print the money. (This is technically true but ignores the structural damage done to the economy and upward price inflation).

They will deny this and occasionally claim they are "concerned" about inflation, but I include in Problems with MMT email exchanges I had with MMT founder Warren Mosler and top MMT economist Randall Wray that shows little in terms of here and now concern about money printing. 

The Kelton tweet is more proof of this. They are mad money printers.



  1. Well, maybe there is a bright side, could this accelerate the downfall of the Empire? If it does, let them print. I mean there is nothing that is going to stop them anyway. It’s game over for anything close to sound monetary policy. This is one reason I am for every tax break they want to “give” us, they are not going to stop spending and printing. Keep all you can and use it to get ready for what will eventually come.

  2. I understand the popularity of euphemisms, but MMT, Keynesianism, easing, loosening, stimulating, lowering interest rates, and accommodating all mean the same thing in the world of economics: they mean counterfeiting, which is just a particular method of stealing.

    I think one way to help defeat these parasites is to refuse to adopt their euphemisms when we discuss their activities.