For the twelve months or so that I have been writing articles advocating the benefits that would come if our government implemented a Modern Monetary Theory (MMT) economic framework, I have been under the mistaken impression that MMT is a regime, or a doctrine that the government needs to adopt as an economic policy initiative.
For most of this time I have viewed MMT as the religion of the progressives in policy direction held back by the right wing neo-liberal conservatives who see MMT as a threat to western capitalism.
But recently, as Professor Bill Mitchell pointed out in one of his daily blogs, we are already living in an MMT monetary system. All the mechanics of a fiat currency system are already there to enable us to interact with MMT every day……..
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- If this doesn’t make you deeply question the state of economics then I don’t know what will….
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