Economics

Unmasking Modern Monetary Theory

Government loosed from financial constraints, full employment to the last man and woman willing to work, and all with no inflation to speak of. Welcome to the alluring world of Modern Monetary Theory (MMT). My purpose is to deconstruct and demystify MMT; to explain where it fits in macroeconomic theory; to assess its strengths and weaknesses; and to bring out the threat it poses to economic and political freedom. I can’t get close to being exhaustive. However, I believe I can provide a more complete and comprehensible account of MMT than generally appears in the popular press. Professor Stephanie Kelton…

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