Ep. 128 The Destructive Idiocy of “Modern Monetary Theory”
Modern Monetary Theory (MMT) is gaining traction. Its adherents think it’s just common sense, but it’s actually destructive nonsense. Why, governments can never “run out of money,” because they have a printing press! OK, it’s a little more sophisticated than that, but not nearly as much as they think it is.
More inanities smashed courtesy of Contra Krugman.
“MMT, Again” (August 15, 2011)
“The Radical Left-Wing Theory That the Government Has Unlimited Money,” by Tom Streithorst
“Does “Depression Economics” Change the Rules?,” by Bob Murphy
“The Upside-Down World of MMT,” by Bob Murphy