Oh, right

The only thing that would limit the spending is inflation if it causes too much demand for an economy to cope with when it is at full capacity. Economist Richard Murphy, a MMT supporter and the co-author of a report proposing the “green new deal” in the UK, says “economics is out of ideas” and that Kelton has become the leading theorist by some way.

Murphy says that Kelton is highly influential with Sanders and Democratic congresswoman Alexandria Ocasio-Cortez.

Well that is a ringing endorsement from a valued source. Fortunately the Telegraph has MMT’s number:

The main appeal of Kelton and her ideas for Sanders is that they help the senator’s dubious spending calculations add up.

7 thoughts on “Oh, right”

  1. It’s amazing to think that people still believe this Keynesian bullshit. But then you look at all the other things they believe, and it makes you cry.

  2. It’s a measure of the Telegraph’s debasement that it’s describing Murphy as ‘an economist’ – nothing I have seen from him makes me think he has a grasp of the subject to GCSE level.

  3. Dennis, Buzzword Master

    I think “tubby tubthumper” is more accurate and catchier.

    “Portly potwholloper” also works.

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