David Colander: Does "Economics" Have Too Much Influence Over Policy?
The best way to understand an issue is sometimes to follow the debate rather than just one "side." I had bogged down trying to understand Monetary Theory (Modern or otherwise). This is an introduction to the thinking of David Colander. I tripped over him when reading " Modern Monetary Theory and its Critics ." Colander presents himself as a "Historian of Ideas." He is a "big picture" guy who tries to understand ideas in depth but also concerning their real historical consequence. For example, he points out that if MMT were applied by, say, the Tea Party, the result would be a nightmare (zero tax, no government). This provides a simple example of one assumption behind all economic "recommendations" - that the supporters are in political power - more or less permanently . After plodding through endless economic arguments, I also get a whiff of "motivated reasoning." Beware of all statements that include o ther things being equ...