The MMT Debate With Dean Baker & Randall Wray


The Real News Network has the video The MMT Debate With Dean Baker & Randall Wray.

Is Paul Jay being purposely dense? Some of the things that MMT does not talk about, are left out of the conversation because they would seem so obvious to thinking people that they would not need to be mentioned. If people are going to be as dense as Paul Jay, then MMT proponents will explain them. I heard no mention of freeing up the tremendous amount of resources we spend on counter-productive wars. Imagine paying people to make things that are useful to the economy instead of paying them for making things that we blow up. Dean Baker wasn’t too bad, but I expected him to be more reasonable given what he has previously written and spoken about.

Then there was the “debate” over what would happen if we tried to spend billions of dollars on new things and we did it overnight. What adult would think you could shift spending of hundreds of billions of dollars from one thing to another overnight? It is another case of being purposely dense to think that L. Randall Wray has given no consideration of how long it would take to phase in the shift from one thing to another. First, you have to figure out how you can afford something. After you figure out that you can afford something, then you have to figure out how you are going to do what you propose to do with all that money. Are we having a conversation among adults, or are we talking to children?

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