Hamilton beats MMT
“I wish I could believe that government debt doesn’t matter (or that Elvis is still alive). But debt matters a great deal, and we should be thankful that US President-elect Joe Biden’s presumptive treasury secretary, Janet Yellen, is not an MMT acolyte.”
USAGOLD note: Janet Yellen is not MMTer. At the same time, she is not a sound money advocate either. That aside, as Buchholz – formerly, by the way, director of economic policy under George H.W. Bush – warns MMT has been “picking up ever more support.” We would think that its influence within the Democratic Party might reach the hallowed halls of the Treasury Department sooner than some might think.
Repost from 12-21-2020