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A comment on US Federal Reserve raises interest rates for first time since 2018. Parent comment

Re:US Federal Reserve raises interest rates for first time s... by brimble on Wednesday March 16, 2022 @06:56PM (#30705215)
As someone who took a lot of political science and economics classes once upon a time, and has an ongoing amateur interest in these things, MMT is the first time I've looked at one of these macro-level explanations/descriptions and not felt like I needed to ask a bunch of stupid questions that are (inevitably) going to be dismissed with a heaping dose of condescension. Finally, something that makes total sense when I look at how real world systems (and especially governments) behave.
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Re:US Federal Reserve raises interest rates for first time s... by stale2002 on Wednesday March 16, 2022 @07:34PM (#30705546)
Theories that are dismissed by the vast majority of the mainstream experts are often simple, yes.

It turns out that the real world is complicated, and thats why we have experts in the world.

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Re:US Federal Reserve raises interest rates for first time s... by brimble on Thursday March 17, 2022 @10:16AM (#30711413)
It's less that it's simple (it doesn't really seem simpler to me than any other fundamental approaches to macro, no?) than that at least real-world behavior of governments, and changes in the world as a result of that behavior, doesn't all seem to point strongly in the direction of something about it being wrong or badly incomplete. It's simple like universal gravitation is simpler than epicycles.
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Re:US Federal Reserve raises interest rates for first time s... by stale2002 on Thursday March 17, 2022 @02:08PM (#30714167)
Ok and the fact remains, that the vast majority of experts in the field dismiss MMT as something that doesn't provide much of value to the field.

Thats the important part here. Whatever your opinion is on any of this, basically all the actual people who know what they are talking about, disagree and think that MMT is basically valueless.

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Re:US Federal Reserve raises interest rates for first time s... by willcipriano on Wednesday March 16, 2022 @10:23PM (#30706900)
The world isn't that complicated. Its brutal and uncaring. We make up complicated systems beacuse we'd rather not face the pointless brutality of it all. Contrast the complexity of religious faith in life after death to the biological reality on the ground for the best example of this.
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Re:US Federal Reserve raises interest rates for first time s... by naijaboiler on Wednesday March 16, 2022 @10:11PM (#30706802)
Similar background. MMT, for me as well, is the first comprehensive explanation of money that just fits everything and makes complete sense without any glaring holes.

All other theories feel like yeah... but how does it explain this phenomenon or that

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