67 min listen
Gerald Epstein, “What's Wrong with Modern Money Theory? A Policy Critique” (Palgrave Macmillan, 2019)
Gerald Epstein, “What's Wrong with Modern Money Theory? A Policy Critique” (Palgrave Macmillan, 2019)
ratings:
Length:
41 minutes
Released:
Jan 9, 2024
Format:
Podcast episode
Description
Since the last-but-one financial crisis abated and governments responded to better times by clawing back their stimulus packages, a once-obscure economic philosophy has been gaining a growing following on the left. But, following the extraordinary policy response to the COVID-19 pandemic, even some conservative commentators and policy makers are showing an interest in Modern Monetary Theory or MMT.
Not so fast, warns Gerald Epstein in his What's Wrong with Modern Money Theory? A Policy Critique (Palgrave Macmillan, 2019). While this progressive economist welcomes any resistance to austerian economics and the policy rethink that the new theory is triggering, he warns against MMT's seductive appeal and its significant practical shortcomings.
Gerald Epstein co-directs the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst.
Tim Jones is an economic and political-risk analyst at Medley Global Advisors (FT Group) in London.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Not so fast, warns Gerald Epstein in his What's Wrong with Modern Money Theory? A Policy Critique (Palgrave Macmillan, 2019). While this progressive economist welcomes any resistance to austerian economics and the policy rethink that the new theory is triggering, he warns against MMT's seductive appeal and its significant practical shortcomings.
Gerald Epstein co-directs the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst.
Tim Jones is an economic and political-risk analyst at Medley Global Advisors (FT Group) in London.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Jan 9, 2024
Format:
Podcast episode
Titles in the series (100)
Sam Gindin and Leo Panitch, “The Making of Global Capitalism: The Political Economy of American Empire” (Verso, 2013): Two Canadian socialist thinkers have published a new book on the successes and failures, the crises, contradictions and conflicts in present-day capitalism. In The Making of Global Capitalism: The Political Economy of American Empire (Verso, 2013), by New Books in Economic and Business History