July 30, 2019

How MMT disgraces itself

Comment on Bill Mitchell/Tom Hickey on ‘When the Left disgraces itself’

Blog-Reference and Blog-Reference

Tom Hickey argues: “The number of serious critiques of MMT are few and far between and well-informed one are even rarer. In fact, I can’t recall even one that demonstrated familiarity with the body of MMT literature. Sad state of affairs.”

Fact is
  1. The foundational MMT sectoral balances equation (I−S)+(G−T)+(X−M)=0 is provably false.#1 Therefore, the whole analytical superstructure of MMT is false.
  2. MMTers purposefully deceive people.#2
  3. MMTers violate scientific standards and systematically block/suppress refutation.#3
  4. MMTers are NOT scientists but agenda pushers for the Oligarchy.
  5. The MMT policy of deficit-spending/money-creation undermines Democracy.#5
The philosopher Tom Hickey is a disgrace for the community of philosophers which defines itself through the voluntary commitment to high ethical standards.

Egmont Kakarot-Handtke

#1 For the full-spectrum refutation of MMT see cross-references MMT
#2 MMTers are false Progressives and false Friends-of-the-People
#3 Economists/MMTers: agenda pushers, distractors, blockers, muters, censors
#4 Very busy these days: Wall Street’s agents
#5 MMT undermines democracy

Related 'Trump and MMT: Make profits great again' and 'The decisive reason to worry about government debt' and 'MMT, voodoo, and dead horse beating' and 'Bill Mitchell ― Wall Street’s hitman keeps an eye on MMT defeatists' and 'How Stephanie Kelton brain-washes a lovely young English girl' and 'Prophet Stephanie divines the seizure of the means of production of currency'. and 'Is MMT good for WeThePeople or for the Oligarchy?' and 'Is MMT Alt-Right? No, it is fake science' and 'Bill Mitchell’s dishonorable discharge from the sciences'.

REPLY to Calgacus on Jul 31

The fact is that the foundational MMT sectoral balances equation (I−S)+(G−T)+(X−M)=0 is provably false. Therefore, the whole analytical superstructure is false. Therefore, MMT inflation theory is false by implication.#1-#6 Historical examples are NO substitute for the true theory. Conversely, the true theory is the precondition for understanding history.

#1 Gov-Deficits do NOT cause inflation
#2 Attention: there are THREE types of inflation
#3 Settling the MMT―Inflation issue for good
#4 MMT, money, value, and transcendental Capitalism
#5 Dear idiots, government deficits do NOT cause inflation
#6 Economics as tireless production of proto-scientific garbage: inflation theory as an example