It takes two to tango: a reply to our MMT critics*

Françoise Drumetz, C. Pfister
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Abstract

We reply to the critics who contributed the other papers in the same issue of this journal. In the first part of the article, we indicate those remarks addressed to us, which we deem inappropriate to answer. The second part deals with the remarks we find useful to answer, which relate to money, monetary policy and central banking on the one hand, and to fiscal policy on the other hand. The third part recalls remarks we made in our previous publications and that our critics did not wish to consider, whereas this might have helped them in amending their theory. In the fourth part, we conclude that an opportunity to engage in a more fruitful debate may thus have been missed: indeed, it takes two to tango.
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一个巴掌拍不响:对我们的MMT批评者的回复*
我们回复那些在同一期杂志上发表其他论文的评论家。在文章的第一部分中,我们指出了我们认为不适合回答的针对我们的评论。第二部分涉及我们认为有必要回答的问题,一方面涉及货币、货币政策和中央银行,另一方面涉及财政政策。第三部分回顾了我们在以前的出版物中所作的评论,这些评论是我们的批评者不愿意考虑的,而这可能有助于他们修正他们的理论。在第四部分,我们的结论是,可能因此错过了进行更富有成果的辩论的机会:事实上,探戈需要两个人。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
1.70
自引率
0.00%
发文量
9
期刊介绍: The European Journal of Economics and Economic Policies: Intervention (EJEEP) is a peer-reviewed journal which serves as a forum for studies in macroeconomic theory, economic institutions and economic policies. The managing editors aim for productive debates involving one or more variants of heterodox economics, and invite contributions acknowledging the pluralism of research approaches. The submission of both theoretical and empirical work is encouraged. The managing editors contend that a wide variety of institutional and social factors shape economic life and economic processes. Only a careful study and integration of such factors into economics will lead to theoretical progress and to competent economic policy recommendations. This was clearly demonstrated by the inadequacy of orthodox economics, based on neoclassical foundations, to provide suitable explanations and responses to recent financial and economic crises.
期刊最新文献
It takes two to tango: a reply to our MMT critics* 'I think it is important to speak multiple languages theoretically in order to communicate to different types of people' Book review: Cuyvers, Ludo (2022): Neo-Marxism and Post-Keynesian Economics: From Kalecki to Sraffa and Joan Robinson, Milton Park (247 pages, Routledge, hardcover, ISBN 978-1-032-25480-7) Editorial to the Symposium: Modern Monetary Theory and its critics The trade-off between inflation and unemployment in an ‘MMT world’: an open-economy perspective
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