For Mareket Monetarists Money is the Root of All Evil

       This is what emerges in the post by Lars Christenen I linked to yesterday.

       http://diaryofarepublicanhater.blogspot.com/2012/01/sumner-and-awesome-obfuscation.html

        The idea of money illusion-of course the name of Sumner's blog-is that if it weren't for the illusion of money the economy would work like a barter economy.

        This is very interesting. Here they are, arch apologists of totally unfettered capitalism-libertarianism-and yet they believe that the ideal economy is a barter economy.

        It's kind of like the old Catholic church that loves children but hates how they are created. The MMers are also like the  What I also find interesting is to imagine a debate between the Market Monetarists and the Modern Monetary Theory people.
        To put up what the MMers say about money against what the MMTers say. MMT claims that since Nixon closed the gold window in 1971 our fiat money currency of today is a government monopoly money.

        Yet in a way maybe the MMers know this which is why they are so opposed to money. Understand, in the mind of Sumner and Christensen NGDP targeting is meant to take away what they believe are the distortions of having money in the economy.

        So that's original sin Market Monetarist style-obviously not only for them; it's true for "regular monetarists" too indeed you could argue that it's true for all Right wing economics-libertarianism.

        Yet like all versions of The Fall of Man the question begs: What Caused Sin? With a morally just, benevolent God how is it possible?

         And so if money is the root of all evil, why do we have it at all? Who or what could have created such a nefarious substance. Is there any way we can ever free ourselves of the Circe? The answer of Sumner, Chrisensen and the rest of the MMers is yes: NGDP targeting.