The Controversial Modern Monetary Theory

UPDATE - Kelton vs. Krugman Debate
https://www.bloomberg.com/opinion/articles/2019-03-01/paul-krugman-s-four-questions-about-mmt
https://www.nytimes.com/2019/02/25/opinion/running-on-mmt-wonkish.html

Alexandria Ocasio-Cortez Is the Darling of the Left, Nightmare of the Right

https://www.bloomberg.com/news/features/2019-01-17/alexandria-ocasio-cortez-s-big-ideas-for-taxes-and-medicare

Debate surrounding Modern Monetary Theory (MMT):

What is modern monetary theory?

http://theconversation.com/explainer-what-is-modern-monetary-theory-72095

Mainstream Macroeconomics and Modern Monetary Theory: What Really Divides Them?

https://www.ineteconomics.org/perspectives/blog/mainstream-macroeconomics-and-modern-monetary-theory-what-really-divides-them

Critique of MMT:

https://www.nationalreview.com/2019/01/modern-monetary-theory-abuses-and-uses/

Related:

Karl Smith notes:

https://www.bloomberg.com/opinion/articles/2019-01-18/alexandria-ocasio-cortez-and-the-revenge-of-the-millennials

“The argument that a debt-free college policy will mostly benefit the young hardly needs an explanation. Yet it is even more skewed toward them than it appears: It’s not a given that such a program would result in many more Americans going to college (if that happened, the overall benefits — from the increase in skilled workers — would be widespread). Instead, more students would leave college without owing tens or even hundreds of thousands of dollars in debt. That reduced debt burden represents a direct transfer from older Americans to younger ones.

None of this is to argue against the goals of these Democratic proposals. But they represent a radical departure from the past and current model, and it’s interesting to consider why they are all coming now. My favorite theory — and that’s all it is — is that they are payback for decades of pro-elderly monetary policy.”