Why Modern Monetary Theory Is a Dicey Bet for Liberals

By: Saturday September 27, 2014 5:20 pm

It’s the extension of Modern Monetary Theory beyond monetary theory where I start to have reservations. Using Modern Monetary Theory as the basis for public policy is tricky because in addition to justifying liberal priorities like funding safety net programs or a job guarantee, it can also be used for neoliberal ends like slashing taxes and eliminating the minimum wage.

When Modern Monetary Theory stops being a monetary theory, vague notions like “public purpose” and “productive capacity” come into play. Marshall admits we already have Modern Monetary Theory for big banks, as evidenced by the bailout and other extraordinary measures. Who is to say public purpose hasn’t been served by that? Who’s to say there isn’t an abundance of productive capacity bottled up in our entrepreneurial job creators just waiting to be unleashed by the elimination of the capital gains tax?

 

Liberals Are on the Rise

By: Friday January 10, 2014 7:35 am

There has been a noticeable increase in the number of self-identified liberals over the past decade.

The Liberal Outrage Toward Brown University Students Who Shut Down Lecture by NYPD Chief

By: Wednesday November 6, 2013 8:15 pm

The president of Brown University has announced the establishment of a committee to investigate what happened on October 29, when NYPD commissioner Ray Kelly faced protest at a speaking event. The university may even choose to hold certain individuals or organization responsible for violating the “Code of Student Conduct.”

Summers Shows Liberals in the Senate Have a Lot of Leverage

By: Monday September 16, 2013 3:03 pm

If we had a functioning Senate a handful of liberal senators could easily be ignored. The President could instead move his proposal slightly more to the right to reach out to Senate Republicans to make up for any votes he lost on his left flank. With the current makeup of the Republican party this option is no longer viable.

Liberal Hypocrisy Isn’t Free

By: Tuesday May 28, 2013 9:25 am

To drone or not to drone? President Barack Obama recently demonstrated his most valuable political talent – fooling liberals into supporting Bush policies under another name. Obama’s latest soliloquy on his personal struggles in justifying his actions as president hit just the right tone for every establishment apologist liberal. Yes Obama was carrying on Bush Administration policies and in some cases introducing even worse violations of civil rights, but he is really struggling with it. He is really giving it a lot of thought. And really, isn’t that what matters?

The Cultural Divide on Authority

By: Sunday December 30, 2012 10:30 am

There is more than one kind of authority, and we can all learn.

Though Liberals Carp at Chained CPI, Pelosi Says She Could Live With It

By: Tuesday December 18, 2012 3:10 pm

You will hear virtually nobody claim that chained CPI represents a more accurate way of determining the cost of living for senior citizens on Social Security, because if they were honest about it, they would tailor an inflation index to the real costs of seniors. The only benefit to chained CPI is that it saves the government money at the expense of senior citizens. That’s it. It’s a back-door way of lowering the benefit.

Election Hysterics and The Bad Faith Liberals

By: Monday October 22, 2012 1:00 pm

Judging from the Twitter-sphere, the presidential election is an addiction for some: akin to alcoholism, but a lot less fun. This affliction actually runs much deeper than the election itself, though it presents its symptoms most acutely in these final weeks of the bullshit extravaganza. Its subjects are likely to engage in incessantly vacuous chatter in this arrogant “have you heard?” tone. They prattle on, eventually driven to hysterics about the assured doom the country will face if their perceived foe prevails.

Issues the Two Major Party Presidential Candidates Refuse to Discuss

By: Friday September 21, 2012 6:00 am

The ten issues highlighted are: mass incarceration and the drug war, the housing market, the India/Pakistan conflict, overfishing, global disease and malnutrition, internet privacy, America’s security state and shadow wars, factory farming, civil war in the Democratic Republic of the Congo, and segregation by race and class in education.

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