Every economist since Karl Marx thought he was sharper than Adam Smith, and every one of them has been totally wrong. The key thesis in Wealth of Nations was that a nation's wealth was the productive labor of its people. That was true in 1776 and it is true today. Which means, yes, the MMT crowd is insane.
Every economist since Karl Marx thought he was sharper than Adam Smith, and every one of them has been totally wrong.
The key thesis in Wealth of Nations was that a nation's wealth was the productive labor of its people. That was true in 1776 and it is true today.
Which means, yes, the MMT crowd is insane.