December 8, 2020

MMT — an exercise in newspeak

Comment on David Andolfatto/Tom Hickey on ‘Does the National Debt Matter?’*

MMTers deceive WeThePeople by
  • calling macroeconomic profit private sector saving,#1
  • calling public debt government-issued assets,
  • claiming that national debt does not matter and either does not have to be repaid or not paid interest on or both.

The three essential things to know about MMT are
  • MMT is scientifically worthless because MMTers don't get macrofoundations right,
  • MMT is political agenda pushing for the benefit of the Oligarchy,
  • deficit-spending/money-creation matters for distribution. MMT is the biggest redistribution program ever.#2

Egmont Kakarot-Handtke

* For details see Twitter thread

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