@FadhelKaboub's Threads
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
Ten #MMT tips to remember on #TaxDay:
1. Federal #taxes don't fund federal spending, so let's #decouple these two important tools.
2. Taxes offset #Government spending.
1. Federal #taxes don't fund federal spending, so let's #decouple these two important tools.
2. Taxes offset #Government spending.
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.
4. #Taxing for #revenue is for local states/municipalities, not the #sovereign issuer of the #currency.
5. Taxing excessive wealth protects #democracy from #Oligarchy and protects us from abusive market power
6. Taxing #pollution & #speculation to reduce such activities, not to "fund" #healthcare and #education.
6. Taxing #pollution & #speculation to reduce such activities, not to "fund" #healthcare and #education.
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
