#Thread #MMT economists have been saying for decades that a #JobGuarantee is an automatic stabilizer. When the private sector is laying off millions of workers, the Federal government must step in as the employer of last resort.
You take people as they are, where they are, and you do on-the-job paid training at a living wage & benefits for anyone ready, willing, and able to work. During a #pandemic, one of the most important jobs under the #JobGuarantee system is to #StayHome.
There are also millions of jobs that can be done remotely and safely right now (e.g. emergency call centers, wellness checks, testing/tracing/isolating for #COVID19, weatherizing vacant buildings, installing rooftop solar on every school and gov building,..
All of my Warren friends are actually more progressive than Elizabeth Warren herself. Here is a statement by her strongest supporters who are now joining the #NotMeUs movement and supporting Bernie Sanders. medium.com/@michaelbarth_…
And if you are still waiting for Warren to endorse Bernie, then you're wasting your time. She didn't endorse him in 2016 and she will not endorse him this year. The fact that she is still "thinking about it" is a non-endorsement in and of itself. medium.com/@michaelbarth_…
OK friends, this is serious. I know we all want Trump out of the White House, and it looks like the establishment Dems and the MSM are set to make him the nominee. They are white washing his record on war, racism, poverty, inequality, finance etc.1/n
This man is a warmonger with the blood of thousands of innocent Iraqis and US soldiers on his hands. He did the dirty work in the Senate to give W Bush the authorization to invade Iraq in 2003. Watch this if you care, and vote your conscience. 2/n
If you choose Biden, this one is on you!
And if this doesn't make you as angry as Bernie, then you should vote for Biden. 3/3
So if you have any doubt about this being a #ParadigmShift, check this out. A colleague from the humanities is teaching a social science class this semester. She decided to introduce her students to different theories about #money. 1/n
I'm told that this sparked a very lively discussion that will continue in class next week. I've always said that this paradigm shift will not take place under the leadership of mainstream economists & their admirers. 3/n
I'd emphasize the fact that the core MMT economists are Post Keynesian Institutionalists, and as such we take legal institutions very seriously. It shouldn't be a surprise to anyone that legal scholars play an important role in the development of MMT and its policy framework. 1/n
After all, financial instruments are legal contracts, market transactions take place within a legal framework, &that legal framework is the result of multiple iterations &intersections of policy designs. So the traditional distinction between theory&policy is not very helpful 2/n
We're very grateful for the important work done by the original institutionalists (Veblen, Dewey, etc.) & their followers for cross-fertilizing with the followers of Keynes, and with the legal scholars of money and finance. 3/3
3. It's a matter of #logic: #dollars must be spent into existence (by the Gov) first, in order for us to use some of those $ to pay taxes 4. #Taxing for #revenue is for local states/municipalities, not the #sovereign issuer of the #currency.
Hi @HeerJeet. Sorry, but you're way off on #MMT. Not necessarily your fault. It's been a well coordinated operation by mainstream forces to smear MMT and its progressive policy ideas, to misrepresent our views without citing a single MMT academic source. 1/n
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