Exterminate Exterminate

Response to Noahpinion:

In the spirit of goodwill and humour I’m willing to put aside that Daleks as a colloquial term  used for people who act like robots unable to break from their programming and I will leave the irony of the statement at home too.

Instead I’m going to play along:

Exterminate! Exterminate!

Exterminate Gold Standard thinking!

Exterminate! Exterminate!

Exterminate Bretton Woods thinking!

Exterminate! Exterminate!

Exterminate deficit hawks!!

Exterminate! Exterminate!

It is worth noting that Modern Monetary Theory has gained prominence and popularity by self-taught learners.  If MMT was filled with jargon as standard economics is – this would not be possible by lay people.
Plain English has been used by the academic proponents of Modern Monetary Theory to reach out across the globe via blogs and other means to reach any ordinary person with an open mind.  It would not have the reach it has today if it was done differently.  Many of the the most common misconceptions are dealt with here.

Exterminate! Exterminate!


4 responses to “Exterminate Exterminate

  1. Well said! Political economy at its root is the definition and promotion of values, about how we treat one another and about how we should treat one another: the descriptive and the prescriptive. Every field of study and endeavor branches into esoterica and political economy is no different, but that the core values and understandings of MMT can be easily grasped by laypersons speaks to its usefulness and applicability in framing the enormous problems we face as a species and their solution.

  2. We are a group of volunteers and starting a new scheme in our community. Your site offered us with valuable info to work on. You’ve done an impressive job and our entire community will be thankful to you.

  3. Why are we reinventing the wheel? There is 80 years of literature deriving from an approach known as Hydraulic Keynesianism that already thinks that full employment is equal to some level of bufferstock unemployment (known as the NAIRU), thereby assuming away much of the problem of unemployment. Priming the pump up to that bufferstock unemployment level based on some version of Okun’s law is the hallmark of the ISLM approach and all of its modern neoclassical descendants who favor fiscal policy intervention (btw, Okun himself cautioned that the link between output and employment growth is very tenuous). We have volumes and volumes of analysis critiquing the macro-theory underpinning the Hydraulic Keynesian approach but suddenly we are resurrecting it?

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