The fact that economists continue to post charts like this as though they self-evidently support this statement means we still have much to learn from MMT.
Charlie retweeted
The Senate committee responsible for commerce and technology policy has zero hearings on AI scheduled for the next 4 months.
The committee's top priority is, instead, the Protect College Sports Act.
Charlie retweeted
Beveridge Model healthcare systems, where healthcare is both government-funded and government-provided consistently rank among the best healthcare systems in the world (circled below from 2021).
Charlie retweeted
THAT'S NOT MMT
In today's @Markets newsletter, I wrote a very simple guide to what is and isn't MMT, since lots of people are very confused on the subject and abusing the term.
Share with anyone who is confused!
bloomberg.com/account/newsle…
Charlie retweeted
Nobody, nobody relishes human suffering like the new right. It’s not about the rule of law, law and order. It’s about deriving pleasure from the suffering of other people, and ideally monetizing it. The thing about “woke” is that it at least had a constructive vision of a more just and freer world, even if it had its excesses and follies. These people simply want to derive as much enjoyment from as much human suffering as possible. It’s sick and needs to be defeated.
Charlie retweeted
IT'S TIME TO START TALKING ABOUT MMT AGAIN
In the newsletter, I wrote about how in our time of persistently high inflation, a high cost of living, and ongoing strain on industrial capacity, MMT wisdom (once again!) shines a light towards a policy path that may be helpful.
Ironically, the MMT framing is the most accurate way to understand why this wouldn’t work.
More reason not to take M4A seriously. Most supporters think that taxing 989 billionaires can fund the entire $5.3 trillion U.S. health care system. Its an almost childlike view that 99.9997% of us can have all the health care we want completely for free.
Charlie retweeted
Nyland man. Hold your head high, man. Your performances at World Cup 2026 will never be forgotten. You were the hero to so many out there. xitter.cf/PepNorthStand/status/2…
I know nothing of this person’s politics, but it is interesting to see all the anger from the AI hype accounts be directed at the frontier labs whereas any mentions of the Trump admin are mere dispassionate news.
Charlie retweeted
I don’t know about this path. Rather than equity stakes, why not make companies pay ~20% of all pre-tax income to the federal government? And then instead of exercising shareholder influence, politicians and regulators could set rules on corporate conduct across industries.
OpenAI proposes handing Trump administration 5% stake ft.trib.al/vSxbmZE
Whether or not this is what mainstream econ actually says, financial “crowding out” continues to dominate policy discourse and goes largely uncorrected by academics.
Consequence of thinking federal taxes go to a special money pot and then get paid out to specific people
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Yes, remove the cap for fairness reasons. Then change the law such that SS distributions do not depend on the fund maintaining a positive balance (which is already securities anyway). Crisis permanently averted with zero macro impact.
It’s crazy how debt to GDP ratios were uniformly declining for a long time, especially in 2020. And then suddenly they started going up really fast.
Charlie retweeted
Why does money have the value that it has? This is a surprisingly difficult question in economics.
In some newly-updated work, I formalize the answer to this question that comes from Modern Monetary Theory (MMT), but using standard mainstream modeling techniques.
A big reason I think we should treat other people with dignity is because this one affects me personally.
