this post was submitted on 04 May 2024
31 points (100.0% liked)
the_dunk_tank
15910 readers
317 users here now
It's the dunk tank.
This is where you come to post big-brained hot takes by chuds, libs, or even fellow leftists, and tear them to itty-bitty pieces with precision dunkstrikes.
Rule 1: All posts must include links to the subject matter, and no identifying information should be redacted.
Rule 2: If your source is a reactionary website, please use archive.is instead of linking directly.
Rule 3: No sectarianism.
Rule 4: TERF/SWERFs Not Welcome
Rule 5: No ableism of any kind (that includes stuff like libt*rd)
Rule 6: Do not post fellow hexbears.
Rule 7: Do not individually target other instances' admins or moderators.
Rule 8: The subject of a post cannot be low hanging fruit, that is comments/posts made by a private person that have low amount of upvotes/likes/views. Comments/Posts made on other instances that are accessible from hexbear are an exception to this. Posts that do not meet this requirement can be posted to !shitreactionariessay@lemmygrad.ml
Rule 9: if you post ironic rage bait im going to make a personal visit to your house to make sure you never make this mistake again
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The dunk here is not on MMT, it's that the head of Biden's council of economic advisors opposes MMT but can't even try to muster a reason why. The woman interviewing him in the video is Stephanie Kelton, author of the Deficit Myth and the main proponent of MMT. She describes (as shouldn't be shocking based on the name of her book) that deficit spending is actually a necessary good to keep the economy functioning, and in that way fits within the left as a counterpoint to criticism of progressive policies like universal healthcare or free college or reparations etc. as "unaffordable."
But your instinct is right, MMT isn't necessarily collaborative with leftist ideas since it isn't concerned with class or redistributive policies. It's basically just a way to explain why we can print so much money and see barely any inflation despite classical economics constantly warning about that exact scenario.