In the big budget fight going on right now in Congress, the Tea Party conservatives rightly point out that $61 Billion in spending cuts is just a drop in the bucket compared to the $1.6 Trillion predicted deficit, and they react with a great deal of moral fervor to the suggestion that they ought to compromise on $33 Billion in cuts in order to avoid shutting down the Government. more »
dailykos.com — In a reply to Paul Krugman, Scott Fullwiler illuminates a lot of the deep thinking and knowledge developed by those following the Modern Monetary Theory approach to economics. If you read this, you can see just how much work PK has to do to really understand it, and how far from the truth his characterization of it is. Heavy, but worth the time.
The Modern Monetary Theory (MMT) approach to economics must be starting to make some waves, because today, Paul Krugman, followed his earlier attack on it and his debate with Jamie Galbraith and others last summer, with more »
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