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Your all-too infrequent reminder that #MMT has never argued for "printing money" the way you've all read about it in textbooks. Past experience suggests only those who already understand this will read/cite things like this from actual MMT scholars 1/ https://www.japantimes.co.jp/opinion/2020/04/22/commentary/world-commentary/debunking-myth-helicopter-money/
Here's a much wonkier piece by @StephanieKelton & me from 2013 explaining this ... 2/ http://neweconomicperspectives.org/2013/12/krugman-helicopters-consolidation.html
Here's another from 2013 ... 3/ https://neweconomicperspectives.org/2013/07/drop-it-you-can-call-for-helicopter-money-but-drop-the-call-for-coordination.html
I did a thread on this a year ago ... 4/ https://twitter.com/stf18/status/1133586537512341504?lang=en
And, what nearly every MMT critic misses is how many "top" economists have moved in MMT's direction--many of them now realize that "printing money" as commonly understood isn't a thing 5/ https://twitter.com/stf18/status/1229275964317802496
Nersisyan & Wray have it right--
"MMT does not support quantitative easing (QE), nor does it prescribe 'helicopter drops,' for the simple reason that there is no such thing as a 'helicopter money' alternative to financing a fiscal stimulus package." https://www.japantimes.co.jp/opinion/2020/04/22/commentary/world-commentary/debunking-myth-helicopter-money/
"MMT does not support quantitative easing (QE), nor does it prescribe 'helicopter drops,' for the simple reason that there is no such thing as a 'helicopter money' alternative to financing a fiscal stimulus package." https://www.japantimes.co.jp/opinion/2020/04/22/commentary/world-commentary/debunking-myth-helicopter-money/
