MMT: Wray on the Thom Hartmann Program
Thom Hartmann continues his efforts to better understand Mondern Money Theory (MMT) by talking with Dr. L. Randall Wray, Professor, Economics, University of Missouri-Kansas City & Senior Scholar, Levy Economics Institute / Author, Modern Money Theory.
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One Response to “MMT: Wray on the Thom Hartmann Program”
Been wanting to see Wray talk, and Hartman did a great job. To me, the overarching issue is that Wray, and I suppose all MMT'ers, believe that government has the answers. Over and over he states that government needs to invest in productive assets for the future. I would argue that history suggests / proves that these great bureaucracies filled by imperfect men and women, we call them governments, haven't, can't and won't fulfill this task over the long-term. In fact, I observe that large governments tend to restrict the improvement of the standard of living of their average citizen. Capitalism is clearly imperfect and often unfair. It is, however, robust and provides for creative destruction. MMT'ers, I fear, are much too confident in the ability of centralized bureacracies.