|FRBNY DSGE inflation forecast, January 2019. Objectively better than MMT, even if it's wrong.|
Over the weekend, I wrote up a bit on my views of MMT including my critiques of it. I got some comments that it was too long or that it wasn't clear what my critique was. Let me try again with a different — and more practical — take.
Modern Monetary Theory (MMT) cannot produce forecasts nor accurately fit data and is therefore far inferior to even the most objectively inaccurate Dynamic Stochastic General Equilibrium (DSGE) model.