MMT Rejects Say's Law: That Is Why It Has a Very Conventional View of Inflation 01/12/2019 Ok, I know I said I was done with MMT, but I came across something that was just too good not to discuss. In addition to learning that Abba Lerner was a market socialist who was influenced by Oskar Lange (a favorite whipping boy of some MMTers), I also discovered that MMT has a very conventional view of managing inflation, at least sometimes. But first, some background. I think I am beginning to understand the peculiar way in which MMT understands inflation. Unlike most economists, who view
Ok, I know I said I was done with MMT, but I came across something that was just too good not to discuss. In addition to learning that Abba Lerner was a market socialist who was influenced by Oskar Lange (a favorite whipping boy of some MMTers), I also discovered that MMT has a very conventional view of managing inflation, at least sometimes. But first, some background. I think I am beginning to understand the peculiar way in which MMT understands inflation. Unlike most economists, who view
