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A Beginner’s Guide to MMT
An overview of a once-fringe school of economic thought that’s suddenly of the moment.
23 Mar 2019, 02:57 PM IST
(Bloomberg Businessweek) -- There’s a lot of debate swirling around Modern Monetary Theory—some strident. Its critics call it a hot mess. “MMT has constructed such a bizarre, illogical, convoluted way of thinking about macro that it’s almost impervious to attack,” Bentley University economist Scott Sumner claimed recently on his blog. MMT’s proponents say it’s the critics who are impervious to reason—“part of a degenerative paradigm ...
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