Re: [Marxism] How Useful Is Modern Money Theory for Developing Countries?

[David Duport via Marxism]

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Here are links to a series of blog posts demolishing so-called "Modern
Monetary Theory," by Argentine Marxist economist Rolando Astarita (in
Spanish):


https://rolandoastarita.blog/2018/07/19/economia-k-y-la-teoria-monetaria-moderna-1/


https://rolandoastarita.blog/2018/07/25/economia-k-y-la-teoria-monetaria-moderna-2/

https://rolandoastarita.blog/2018/08/03/economia-k-y-la-teoria-monetaria-moderna-3/

https://rolandoastarita.blog/2018/08/12/economia-k-y-la-teoria-monetaria-moderna-ultima-parte/

https://rolandoastarita.blog/2018/08/22/tmm-y-curanderismo-social/

https://rolandoastarita.blog/2019/03/28/discusiones-en-torno-a-la-tmm/

https://rolandoastarita.blog/2019/09/19/la-tmm-y-los-argumentos-monetaristas/





On Tue, Apr 21, 2020 at 11:21 AM MM via Marxism 
wrote:

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>
> > On Apr 21, 2020, at 9:48 AM, Louis Proyect via Marxism <
> marxism@lists.csbs.utah.edu> wrote:
> >
> >
> https://therealnews.com/stories/modern-monetary-theory-developing-countries
> <
> https://therealnews.com/stories/modern-monetary-theory-developing-countries
> >
>
> The mistake all of these critics make is to assume that MMT is an economic
> paradigm offering a set of policy prescriptions, rather than a lens through
> which to analyze national economies in order to identify the specific
> structural impediments to advancing public, democratic control over the
> economy (from which a tailored set of policy prescriptions could be
> developed). Once you understand it, the resistance to it from the right
> makes perfect sense; rightwing  economists and thinktanks understand
> perfectly well that MMT’s wider acceptance will make their efforts to
> maintain class-divided societies much harder. The resistance to it from the
> left is much sadder and more pathetic — as far as I can tell it mainly
> boils down to sectarian habits of argumentation, turf and reputations. And
> it’s bizarre to watch it in action.
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Re: [Marxism] How Useful Is Modern Money Theory for Developing Countries?

[MM via Marxism]

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> On Apr 21, 2020, at 9:48 AM, Louis Proyect via Marxism 
>  wrote:
> 
> https://therealnews.com/stories/modern-monetary-theory-developing-countries 
> 

The mistake all of these critics make is to assume that MMT is an economic 
paradigm offering a set of policy prescriptions, rather than a lens through 
which to analyze national economies in order to identify the specific 
structural impediments to advancing public, democratic control over the economy 
(from which a tailored set of policy prescriptions could be developed). Once 
you understand it, the resistance to it from the right makes perfect sense; 
rightwing  economists and thinktanks understand perfectly well that MMT’s wider 
acceptance will make their efforts to maintain class-divided societies much 
harder. The resistance to it from the left is much sadder and more pathetic — 
as far as I can tell it mainly boils down to sectarian habits of argumentation, 
turf and reputations. And it’s bizarre to watch it in action.
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Re: [Marxism] How Useful Is Modern Money Theory for Developing Countries?

[MM via Marxism]

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> On Apr 21, 2020, at 9:48 AM, Louis Proyect via Marxism 
>  wrote:
> 
> https://therealnews.com/stories/modern-monetary-theory-developing-countries


There are many more examples of pieces written from a basically hostile 
standpoint that also cherry pick quotes and construct a strawperson version of 
the thought in order to dismiss it, rather than bothering to grapple with the 
original materials, including from places like Cato and Hoover, both of which 
seem especially keen to make sure that nobody takes MMT seriously. I can 
provide links if you want.


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[Marxism] How Useful Is Modern Money Theory for Developing Countries?

[Louis Proyect via Marxism]

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https://therealnews.com/stories/modern-monetary-theory-developing-countries

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