Stephanie Kelton, a proponent of so-called Modern Monetary Theory, was interviewed on 11/16/2023 by Tom Keene of Bloomberg Surveillance.
We have commented critically several times re Modern Monetary Theory.
Click on title.
Wouldn’t it be good if proponents of a flawed theory and its policy admitted their mistakes honestly, then sought a reliable, verifiable hypothesis and good-for-the-world theory, even if it meant repudiating their past assertions and doing a 180°? And wouldn’t it be good if interviewers knew more about the topics of their interviews? And wouldn’t it be good if talk-show hosts refused to fawn over guests who don’t merit praise and with whom the hosts might disagree? Matters of economic theory and policy affect us all; flawed policies artificially create winners and losers; theory and policy are too important to get wrong. So, critics have the unpleasant responsibility of being critical of obviously flawed theories, sometimes harshly so. This blogger-critic doesn’t enjoy being critical. But correctness in matters of economic theory and policy is vital to the well-being of the society at large. We all must seek truth and verification; we all must collaborate in an honest and forthright manner.