What is MMT? (III) ― Rectifying Bill Mitchell

Comment on Bill Mitchell on ‘Booming growth in Britain (Brexit?) but child poverty rises (austerity)’

Blog-Reference and Blog-Reference

“Social media is, of course, awash with Modern Monetary Theory (MMT) and a host of different characters have made it a goal to become MMT proponents, which is a good thing in some respects.”

It is pretty obvious that “MMT proponents” on social media and elsewhere are overwhelmingly agenda-pushers/applause-trolls/useful idiots/sales-reps and #EconBlockers.#1, #2, #3

“MMT is an economic framework for understanding how the macroeconomy works and the role of the currency-issuer in the monetary economy.”

MMT got macrofoundations wrong. Because of this, the whole analytical superstructure is scientifically worthless.#4

“But MMT is not a ‘movement’, nor, is it a progressive agenda.”

MMTers present themselves as Real Progressives when it suits them, e.g. when they fight UK Labour. Actually, MMT is a movement of and for the Oligarchy.#5, #6, #7

“I keep reading things like ‘MMT advocates taxing the rich’. It doesn’t.”

No, MMT advocates deficit-spending/money-creation which is (because of the 3-sector Profit Law Q≡(G−T)+(I−S)+Yd) to the advantage of the Oligarchy and to the disadvantage of WeThePeople.#8, #9

Egmont Kakarot-Handtke

#1 Economics, communication, disinformation

#2 Economists ― the Oligarchy's agenda pushers

#3 Links on MMTers push Wall Street’s agenda

#4 The unassailable formal refutation of MMT

#5 How Bill Mitchell stalks Jeremy Corbyn

#6 MMT: Corbynism is dead, British Labour is next

#7 Mission accomplished: Economists as useful idiots of the Oligarchy

#8 MMT, money creation, stealth taxation, and redistribution

#9 MMT pushes the Oligarchy's agenda ― and they push MMT

***

Twitter Jul 30

***

Bill Mitchell

• Deceiving WeThePeople ― the case of MMT/Bill Mitchell
• Bill Mitchell says that economists are fake scientists ― true, but MMTers are NOT different
• Proving Bill Mitchell wrong ― burying MMT for good
• Bill Mitchell cracks the spending whip over the Swabian housewife
• Bill Mitchell, MMT, Progressives: economists as Oligarchy hacks
• Mainstream vs MMT ― another clown show
• Economic backstabbing: Bill Mitchell hits again
• Bill Mitchell’s pure MMT teachings for British Labour
• Bill Mitchell’s dishonorable discharge from the sciences
• Bill Mitchell ― Wall Street’s hitman keeps an eye on MMT defeatists
• MMT, Bill Mitchell, and the lack of basic scientific integrity
• How Bill Mitchell stalks Jeremy Corbyn
• MMT is dead: An unfriendly critique of Bill Mitchell
• Bill Mitchell, MMT’s fake scientist
• Cryptoeconomics ― the best of Bill Mitchell’s spam folder
• The final implosion of MMT