Excerpt: Modern Monetary Theory
Economic Policies, Economics and Economists, QE & MMT, The Global Economy | 25th August 2021
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Some commentators seem to think that ‘QE’ is simply a variant of, or a step along the road to, something called ‘Modern Monetary Theory’ or ‘MMT’. It isn’t: and so in the second part of this series Saul explains what MMT is (and isn’t)
‘Modern Monetary Theory’ (‘MMT’) has moved from being very much on the ‘fringe’ of economics to something being taken much more seriously by economists and others. Its proponents and adherents fervently believe that it provides ‘the answers’ to many of the challenges besetting governments as they seek to respond both to the ongoing consequences of the global financial crisis more than a decade ago and those of the Covid-19 pandemic.
In this webinar Saul will explain what MMT is (and what it isn’t), what the historical record shows about how it might work in practice, and what some of the results might be if it were implemented in current circumstances.