Bloomberg Surveillance; Stephanie Kelton

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.

Alberto Bisin re Modern Monetary Theory

So-Called Modern Monetary Theory Does Not Qualify As Scientific Macroeconomics,

FMD’s take on Greg Mankiw’s Take on Modern Monetary Theory

Modern Monetary Theory is Backward; It Creates “Illegal” Superposed Circuits

Stephanie Kelton’s “The Deficit Myth”

Modern Monetary Quackery

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.

Leave a Reply