#MMTservesTheRich#DeficitSpendingMoneyCreation is gov policy since time immemorial. #MMT is the new packaging. The #ProfitLaw Q≡(G−T)+(I−S) implies #PublicDeficitIsPrivateProfit. The primary purpose of the public budget has always been the self-alimentation of the #Oligarchy.— E.K-H (@AXECorg) December 18, 2020
#MMTers are too stupid for the elementary algebra that underlies #MacroEconomics, more specifically, the #SectoralBalances equation— E.K-H (@AXECorg) December 18, 2020
MMT=False → (I−S)+(G−T)+(X−M)=0,
True → (I−S)+(G−T)+(X−M)−(Q−Yd)=0.
Quick MMT 101 refutationhttps://t.co/M1rzHCv4DR
In the equation (I−S)+(G−T)+(X−M)=0, the household sector is present with the variable S, i.e. saving, which is defined as the balance of wage income Yw and consumption expenditures C.— E.K-H (@AXECorg) December 18, 2020
Wikipedia and the promotion of economists’ idiotism (I)https://t.co/UatINJt5nd
#LearnEconomics— E.K-H (@AXECorg) December 18, 2020
You obviously do NOT realize that this is not “my” equation but the official MMT equation (photo). The cited Wikipedia entry is original MMT stuff. And it is PROVABLY false. Seehttps://t.co/3x9c31peUB pic.twitter.com/PynbyNb8F3
My research tells me that— E.K-H (@AXECorg) December 18, 2020
(i) the balances equation features prominently in the MMT textbook
Refuting MMT’s Macroeconomics Textbookhttps://t.co/nIAJmF1Om7
(ii) profit does NOT appear in the MMT equation
MMT and the magical profit disappearancehttps://t.co/kFmaB8XDkk
For more about balances see AXECquery.