Wray Responds to Krugman

L. Randall Wray has responded in the Huffington Post to Paul Krugman’s latest criticism of Modern Money Theory.  In addition to taking issue with the usefulness of Krugman’s historical example (France after WWI), Wray discusses the evolution of MMT and the manner in which it has benefited from the rise of social media.

Update:  Krugman’s newest post on MMT, from today.

Update II:  Wray’s point by point rejoinder.