I've been teaching a class (Heterodox Economics - Modern Money Theory) at CSUS' Senior education program (Renaissance) with the usual mixed reaction. Something so contrary to the current economics narrative provokes tremendous skepticism.
I'm posting this so students can comment...
For those wanting more economics, and a mention of MMT, see Mark Blythe's Brief History of How We Got Here video here:
Notice he says the Republicans have been using MMT for some time, just not telling anyone about it....something I've written about before (here).
I'm posting this so students can comment...
For those wanting more economics, and a mention of MMT, see Mark Blythe's Brief History of How We Got Here video here:
Notice he says the Republicans have been using MMT for some time, just not telling anyone about it....something I've written about before (here).
My greatest economic concern for the US is that the middle-class is disappearing. Wealth is becoming increasingly concentrated in the hands of relatively few people and more and more people have little. Recent economic work has shown that capitalism inherently produces this outcome in the absence of substantial economic shocks (e.g., WWI, The Great Depression, & WWII).
ReplyDeleteMr. Dempsey’s clear presentation hasn’t left me skeptical of the logic of modern money theory, I just would like to see more examples of its practical application before I would be convinced to employ its logic to solving the increasing maldistribution of wealth in the US. Perhaps the application of modern money theory could be an economic shock that would rein in the wealth concentrating nature of capitalism. I hope our third and last class, and the reading I do in preparation, make me a total convert. This would make me economically hopeful. Others will have to find their own way.
With due respect,
Len