- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Top economists disagree with AOC
Posted on 3/14/19 at 12:46 pm
Posted on 3/14/19 at 12:46 pm
LINK
An economic policy espoused by Rep. Alexandria Ocasio-Cortez (D-N.Y.) was found to have exactly zero support from top economists in a recent poll.
Ocasio-Cortez referred to the policy of modern monetary theory (MMT) to explain how she would fund her far-left proposals that would cost tens of trillions of dollars.
But in a poll from the University of Chicago Booth School of Business of 42 top economists, not one supported the basic tenets of the policy.
One question asked how much they supported the statement, "Countries that borrow in their own currency should not worry about government deficits because they can always create money to finance their debt."
Not one agreed.
Another asked, "Countries that borrow in their own currency can finance as much real government spending as they want by creating money."
Not one agreed.
The Business Insider gave a simplified definition of modern monetary theory.
Put (very) simply, MMT posits that a country that controls its own currency can continue to pay down its debt as long as it is denominated in that currency. So since the US prints dollars and issues debt in dollars, it can pay down its debts and does not need to rely on taxes to fund debt issuance.
Instead, the theory says, a country in the aforementioned situation is limited by the availability of real assets. So while we can't just ignore the national debt, unlike a household budget, the debt number — such as the US's record $22 trillion debt load — doesn't matter until inflation and economic effects show up.
Ocasio-Cortez said of MMT that it "absolutely" needs to be "a larger part of our conversation."
An economic policy espoused by Rep. Alexandria Ocasio-Cortez (D-N.Y.) was found to have exactly zero support from top economists in a recent poll.
Ocasio-Cortez referred to the policy of modern monetary theory (MMT) to explain how she would fund her far-left proposals that would cost tens of trillions of dollars.
But in a poll from the University of Chicago Booth School of Business of 42 top economists, not one supported the basic tenets of the policy.
One question asked how much they supported the statement, "Countries that borrow in their own currency should not worry about government deficits because they can always create money to finance their debt."
Not one agreed.
Another asked, "Countries that borrow in their own currency can finance as much real government spending as they want by creating money."
Not one agreed.
The Business Insider gave a simplified definition of modern monetary theory.
Put (very) simply, MMT posits that a country that controls its own currency can continue to pay down its debt as long as it is denominated in that currency. So since the US prints dollars and issues debt in dollars, it can pay down its debts and does not need to rely on taxes to fund debt issuance.
Instead, the theory says, a country in the aforementioned situation is limited by the availability of real assets. So while we can't just ignore the national debt, unlike a household budget, the debt number — such as the US's record $22 trillion debt load — doesn't matter until inflation and economic effects show up.
Ocasio-Cortez said of MMT that it "absolutely" needs to be "a larger part of our conversation."
Posted on 3/14/19 at 12:48 pm to Crimson Wraith
Meh, probably a bunch of white men.
Posted on 3/14/19 at 12:48 pm to Crimson Wraith
Her economic policy is based on leftist ideology and not economics.
Posted on 3/14/19 at 12:48 pm to Crimson Wraith
The founder of GREEN Peace disagrees with her
Posted on 3/14/19 at 12:50 pm to Crimson Wraith
I’d bet most of the bottom of the barrel economists also disagree with her
This post was edited on 3/14/19 at 12:51 pm
Posted on 3/14/19 at 12:52 pm to Crimson Wraith
the only controversy is over Disagree vs Strongly Disagree
Posted on 3/14/19 at 12:53 pm to Crimson Wraith
Get with the times, man! Facts and figures don't matter anymore; just as long as it makes everyone feel good, it's golden.
Posted on 3/14/19 at 12:55 pm to Crimson Wraith
Any economist that agrees with her should have their degree revoked. MMT is literally the Underwear Gnomes of economic policy.
It's so God-awfully short-sighted and naive that it makes Amway look like a good deal.
It's so God-awfully short-sighted and naive that it makes Amway look like a good deal.
Posted on 3/14/19 at 12:55 pm to Crimson Wraith
Why can't we just print an extra $22 trillion? What could possibly go wrong?
Posted on 3/14/19 at 12:56 pm to Crimson Wraith
This isn’t as much “economic policy” as it is wishful thinking about how to potentially pay for ridiculous ideas.
Posted on 3/14/19 at 12:56 pm to Crimson Wraith
even 3rd graders still learning math know it much better then AOC
Posted on 3/14/19 at 12:58 pm to Crimson Wraith
I’d be willing to bet Paul Krugman agrees with AOC. That sumbitch has never been right about anything.
This post was edited on 3/14/19 at 1:00 pm
Posted on 3/14/19 at 1:02 pm to Crimson Wraith
quote:
Top economists disagree with AOC
No shite Sherlock
Posted on 3/14/19 at 1:05 pm to HonoraryCoonass
quote:
I’d be willing to bet Paul Krugman agrees with AOC.
ill take that bet, you choose the stakes
Posted on 3/14/19 at 1:08 pm to Crimson Wraith
A group of semi educated 5th graders would disagree with AOC and her talking points.
Posted on 3/14/19 at 1:11 pm to 90proofprofessional
Krugman has written several op eds in favor of Ocasio Cortez’s policies. He’s a sunken, partisan hack.
Posted on 3/14/19 at 1:15 pm to AbuTheMonkey
he's a committed Democrat hack, but my offer on his MMT stance extends to you as well
This post was edited on 3/14/19 at 1:16 pm
Posted on 3/14/19 at 1:18 pm to 90proofprofessional
Ah, fair enough if specifically referencing MMT. Krugman just prefers to pillage wealth and income rather than print them dollas.
Posted on 3/14/19 at 1:27 pm to Crimson Wraith
I'm guessing she paid her way to a degree one way or another.
Popular
Back to top
Follow TigerDroppings for LSU Football News