I tried to send this earlier but seems to have been lost. Here are some additional pieces:
This is a pretty good piece by Pettis: https://carnegieendowment.org/chinafinancialmarkets/80054
He gets some of it wrong and uses neoclassical framing in several places, but at least he's trying to understand MMT.
Here's a piece by Dean Baker that shows he's pretty much on board: http://cepr.net/blogs/beat-the-press/the-economics-and-politics-of-financial-transactions-taxes-and-wealth-taxes
And here's my latest at Challenge:
MMT and Two Paths to Big Deficits, L. Randall Wray
This is apparently the third piece on MMT in Challenge in the past few months; Eric Tymoigne had an excellent piece recently that showed that deficits as well as rising debt ratios are normal.
Unfortunately, AFEE decided not to have an MMT panel at the ASSA, however both Icape and EPS will host panels; here's the EPS listing:
Can MMT Re-envision Financing for Prosperity and Economic Security?
Friday, Jan. 3, 2020 8:00 AM - 10:00 AM
Manchester Grand Hyatt San Diego, Gaslamp AB
Hosted By: ECONOMISTS FOR PEACE AND SECURITY
· Chair: John Watkins, Westminster College
Jason Furman, Harvard University
Randall Wray, Levy Institute
Yeva Nersisyan, Franklin and Marshall College
Zdravka Todorova, Wright State University
L. Randall Wray
Senior Scholar, Levy Economics Institute
Please make note of my new email address as I will be transitioning all email to:
Finally, what we don't see from the sources below, are the interdisciplinary interests and developments in MMT - outside of heterodox economics. That is something to welcome within institutionalism, as well as to notice, and participate. I always thought that
institutionalism is the best way to connect to other disciplines, and that gives us another thing to celebrate about MMT's expansion.
Dear AFEE folks,
MMT continues to attract a lot of attention.
From The Economist, October 10, 2019:
the left, wacky schools of thought like “modern monetary theory” (mmt),
which says, roughly, that as long as inflation remains contained the government can borrow as much as it likes and that fiscal policy should manage the economic cycle, have influenced some people such as Ms Ocasio-Cortez.
The recent issue of the Real World Economic Review devoted to MMT is also interesting, with articles by Randy Wray, Anne Mayhew, and many other prominent heterodox economists:
I am still digesting all of the different perspectives in this
issue, and I would be interested to hear how other institutionalists view this debate.
Presidential Professor and Co-Chair of Economics at Bucknell University