I don't know about "cult" but everything I've read by MMT advocates assumes either that governments serve the public interest or that, if they don't they *should* serve the public interest. Yeah? Well, I agree they "should" but what is going to make them? That's what I find distressing. A political disconnect. Marx at least posited a revolutionary subject, the proletariat. The big question for me is not would MMT work but who is going to implement it?<br>
<br>I continue to operate on the premise that the State is inherently hostile or at best is passive and will only reluctantly pursue a progressive program, however it may be couched technically, if compelled to by a mobilized civil society.<br>
<br><div class="gmail_quote">On Mon, Sep 26, 2011 at 2:05 PM, <span dir="ltr"><<a href="mailto:ideasinc@ee.net">ideasinc@ee.net</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex;">
�From Stephanie Kelton at the UMKC economics department<br>
<br>
<br>
Date: Mon, 26 Sep 2011 16:15:13 -0400<br>
<br>
Have these folks look at our Twitter following. �Journalists, progressive<br>
groups, reporters (Reuters and such, not crackpots), MPs (two of them,<br>
actually, one a Labor MP from Wales and one from Netherlands (socialist<br>
party). �Randy and I are now recognized as "contributors" at Truthdig.<br>
Anything we write for them (as our New New Deal piece of 2 weeks ago) will<br>
be picked up by scores of other progressive sites (Counterpunch ran our<br>
latest after it appeared in Truthdig), as well as less progressive places<br>
like Global Economic Intersection (which also ran it). �Roughly half of<br>
MMT blogs are run by traders -- not economists (Pragmatic Capitalism,<br>
Center of the Universe, Naked Capitalism, CreditWritedowns (and Ed Harris<br>
was an Austrian before he discovered, and then wrestled with, MMT). �We<br>
are becoming the mainstream in economics, and history will not be kind to<br>
the holdouts. �We have been right about every major economic event (both<br>
forecasting it and then explaining why the policy response would fail to<br>
bring about the desired results). �Krugman didn't say that QE wouldn't<br>
work. �We did. �Dean Baker is moving toward OUR position. �His latest<br>
piece on SocSec is a clear indication. �In it, he says that there is no<br>
reason that SocSec can't be funded out of general revenue FOREVER. �That<br>
IS MMT. �Affordability is not the issue. �Why do you think he said that?<br>
We know Dean. �We like him as a person. �But he is NOT a macro economist,<br>
and he does not understand the monetary system/government finance. �Same<br>
goes for Krugman. �Not a macro person. �Ellen Brown has gotten much<br>
better. �Why? �Because behind the scenes, she is sending e-mails like<br>
crazy, seeking input from Randy, Marshall and other MMTers!!! �It's nuts.<br>
They love these guys, and they are getting their material from us.<br>
<br>
snip<br>
<br>
Stephanie<br>
<br>
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</blockquote></div><br><br clear="all"><br>-- <br>Sandwichman<br>
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