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what do you expect when you invite non-MMT economists to explain something that they never bothered to research? The MMT literature is publicly available & is bulletproof. Asking readers to take ur word for it just because ur name is Summers/Rogoff/Krugman is not gonna do it 2/n
We're ready to debate any "top economist" face to face publicly. Name the time and place, and let's expose them and the their policies. They've been wrong on everything they claim MMT doesn't understand. 3/n
Their models are about fictitious economies that only exist in their imagination. They keep a low profile and go radio silence when the economy crashes, then come back waving their Ivy league privilege to fix it. 4/n
They pay thousands of dollars to PR firms to polish their public image and place them on mainstream media as "experts" who assure the public that fighting climate change, poverty, inequality etc can only be done in small, incremental. Experimental steps, otherwise INFLATION. 5/n
They tried every trick in the book 2 hit the target inflation for 10 years & failed. They finally admitted they have no reliable theory of inflation, & yet they're certain that MMT policies will be inflationary! Hypocrisy! They have no theory, it's just neoliberal ideology. 6/n
The ideology is baked into the foundations of the textbook Keynesian models. Joan Robinson called them Bastard Keynesians (they don't know who their true father is, Keynes or Marshall). Keynes himself said, if this is what you call Keynesian, then I'm not a Keynesian. 7/n
The so-called New Keynesians like Krugman and Summers are neither new nor Keynesian. They are plain old neoclassicals with a heavy dose of misinterpretation of Keynes. MMT builds on Keynes and adds a heavy dose of real world institutional analysis. 8/n
We don't assume away real world problems. We uncover their root causes and design policies to tackle them. Mainstream models rely on assumptions that - by design - lead to a policy tradeoff between fighting unemployment and fighting inflation. 9/n
#MMT destroys Thatcher's TINA (there is no alternative) and shows that a better world is possible: full employment, price stability, Sustainable Prosperity, Inclusive soco-economic justice, better quality of life for all. 10/10
