In this post I'll list the primary components of the MMT Knowledge Claim Network (KCN) classified under the major categories: the Social/Value Gaps; the Knowledge Gaps (Problems); the Descriptive Components (including Solutions); the Policy Prescriptions; and the Narratives.
The Social/Value Gaps mentioned by MMT developers
-- Failure of Economics to contribute to the Public Purpose as defined by the failure to close the other social value gaps listed below;
-- the gap between actual output and projected “full” output;
-- High involuntary unemployment vs. full employment;Read below the fold...
The recent extensive blogosphere discussion on the JG and the MMT core began with a post by John Carney that stated his opposition to the Modern Monetary Theory (MMT) Job Guarantee proposal and claimed it either wasn't an essential component of MMT, or that if it was, then MMT was wrong. Cullen Roche, a well-known popularizer of MMT at his Pragmatic Capitalism blog then asserted: Read below the fold...