Modern Monetary Theory

Demystifying Modern Monetary Theory

"In a challenge to conventional views on modern monetary and fiscal policy, Professor Bill Mitchell of Newcastle University in Australia has emerged as one of the foremost exponents of Modern Monetary Theory (MMT).....Mitchell presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest."
YouTube: Bill Mitchell: Demystifying Modern Monetary Theory

What Is Modern Monetary Theory?

"There is a school of thought among economists who aren’t worried about the so called “budget black hole”, where tough choices have been called for to reduce government spending. Proponents of modern monetary theory, like Bernie Sanders’ chief economic adviser Professor Stephanie Kelton, claim the Australian government need not balance its budget and are instead calling for the government to balance the economy, which they argue is a different thing entirely."