Macro N Cheese

What a pleasure hearing Phil Armstrong tell us how MMT makes him feel supremely confident. He’s not afraid of going toe-to-toe with “experts” despite their credentials, because he has the right model. He has MMT. Phil was teaching high school economics in Iowa before going back to the UK to get his Masters and, much later, his PhD. An interest in post-Keynesianism eventually led him to Mosler and the world of MMT. He has recently published his first book, Can Heterodox Economics Make a Difference? Conversations with Key Thinkers. He tells Steve that when he started working on the interviews, in 2018, most of the mainstream hadn't heard of MMT. By 2020, when it was published, the profile of MMT had increased. Now everyone knows of it. The episode revisits the many criticisms of MMT – we've heard them all – and demolishes them. As for Weimar, Germany: “If you think about it, plausibly, if you imagine intelligent German bankers in the Weimar Republic -- and these are bankers, they don't like inflation. You t