-
What is Modern Monetary Theory and is it THE answer?
In these days of rampant acronym proliferation – from LOL to WFH* – one three-letter acronym keeps rising to the fore: MMT, or Modern Monetary Theory. The set of economic ideas has been around for a while but has risen to prominence recently through the work of American economist and adviser to Bernie Sanders' 2016 presidential campaign, Stephanie Kelton, whose book The Deficit Myth was released in June. But it is an Australian economist, Bill Mitchell, from the University of Newcastle, who is credited with coining the term. A word of warning: a trip down the lane of MMT involves countenancing some truly ... (full story)