Economist in MMT & ecological macro, completing a M. Economics of Sustainability. On a crusade for economic enlightenment, even experts can’t resist my wit.
Wiradjuri Country
Joined December 2010
- Tweets53.6K
- Following554
- Followers2.9K
- Likes2.8K
Pinned Tweet
No idea what this will say but read my rebuttals (prepared earlier) in advance darrenquinn.substack.com/
There’s plenty on the site but let’s ease you into it darrenquinn.substack.com/p/e… #MMT
The Myth of the Growth Ceiling vs. The Reality of Who Captures It
A Comfortable Number Is Still a Political ChoiceEvery so often, a claim does the rounds that sounds less like economics and more like a permission slip: somew...
darrenquinn.substack.com/p/t…
Darren Quinn | Modern Money Economist/Educator retweeted
The algorithm now shows me a lot of the German economists' pearl clutching at @IsabellaMWeber price controls and dear God, how I've underestimated the dark powers of ordoliberalism.
Darren Quinn | Modern Money Economist/Educator retweeted
Very good analogy!
Darren Quinn | Modern Money Economist/Educator retweeted
We're nearing 5 years of hikes/higher rates and inflation remains well above target. We had nearly a decade of ZIRP and inflation stuck to the floor the entire time.
Hate MMT all you want, but this is precisely what MMTers have been arguing would happen the entire time.
Darren Quinn | Modern Money Economist/Educator retweeted
The @RBAInfo deliberately creates #unemployment to control inflation. Then our employment services system treats the jobless as if they caused their own predicament and don't want to work.
Unfair and unnecessarily cruel. My latest in @ConversationEDU:
theconversation.com/the-rbas…
Darren Quinn | Modern Money Economist/Educator retweeted
In 50 years, Kelton's The Deficit Myth will be more widely read than Mises' Human Action, Hayek's Road to Serfdom, and Hazlitt's Economics in One Lesson combined.
Armchair Austrian economists can start fucking crying now. There's no need to wait 50 years.
8. The statement collapses the bidirectional operational ledger of sovereign macroeconomic management into an ideological claim by equating all fiscal interventions with unidirectional spending expansion, and all spending expansion with state encroachment.
The structural limit on public spending is never nominal dollar availability, but rather the available real productive capacity of the economy (labour, plant, technology, ecological resources).
Spending increases that absorb genuinely idle capacity put unemployed resources to work without crowding out private sector activity.
Transfer payments and debt service expand nominal expenditure without commanding or absorbing a single additional hour of labour or unit of physical capital. /7
6. You will love this one. The assertion is self-defeating: by defining all fiscal action as inherently expansionary, it annihilates the theoretical coherence of conservative and neoliberal fiscal discipline.
Boundary Case 1 (Contractionary Policy): Fiscal consolidation through spending cuts or tax hikes represents an active application of fiscal policy that directly reduces nominal disbursements, instantly disproving the initial premise.
Boundary Case 2 (Pure Transfers): A large-scale increase in universal age pensions or cash transfers raises gross expenditure whilst leaving state bureaucracy, public enterprise ownership, and direct state employment unchanged.
Boundary Case 3 (Relative Growth Shifts): If nominal public spending increases by 2% whilst private nominal output grows by 6%, government spending as a share of gross domestic product (GDP) declines despite absolute expenditure growth. /3
4. The thematic architecture appeals to pre-reflective libertarian intuition rather than empirical accounting, reinforcing reflexive scepticism against public capital programmes and social safety nets.
This is a simple statement, yes?
Not quite.
The target statement forms a chained hypothetical syllogism asserting that fiscal policy necessarily causes higher public spending, and that higher spending necessarily expands the scale of government.
The first premise is categorically false: fiscal policy is the bidirectional management of public revenue, spending, and debt, encompassing contractionary, expansionary, and balanced settings.
The second premise commits an equivocation on the term "size", conflating gross nominal expenditure with physical institutional scale, direct resource commandeering, or regulatory footprint. /1
Darren Quinn | Modern Money Economist/Educator retweeted
Awful news, Mehrling was one of those giants whose shoulders we are standing on.
We are deeply saddened to share the news that Perry Mehrling passed away this morning at the age of 67.
Perry was the father of the Young Scholars Initiative. He believed profoundly in young scholars, in their ideas, and in the importance of creating a community in which they could learn from one another and find their own voices.
Perry, you leave an enormous hole in our midst. Our hearts are aching, and we will miss you dearly.
The YSI community will carry your legacy forward. Your ideas, your generosity, and your commitment to generations of young scholars will remain with us.
Thank you for everything, Perry.
You can accept every operational claim in MMT and prefer a night-watchman state; the framework is about monetary mechanics, not the size of government.
Wray says as much, and chapter 4 quotes him saying it. The volume's title promises to refute MMT's errors, and its best chapters argue about something else.
Naming that isn't a framing battle — it's the finding. #MMT
Anti-MMT pdf now available: mises.org/library/book/anti-…
Darren Quinn | Modern Money Economist/Educator retweeted
New Global Financial Stability Report is quite a read: Corporate zombies, circular financing of AI, high and rising leverage in private markets, rising illiquid positions of pension funds and insurers, instability coming from growing role of hedge funds.
imf.org/en/publications/gfsr…
