EXPLAINER-Five questions about Modern Monetary Theory
What are the key ideas?
Like famed economist John Maynard Keynes, Modern Monetary Theory
advocates think government has an important role in offsetting
what happens when demand falls short of what’s needed to keep
everyone who wants a job employed. They draw also on the ideas
of Hyman Minsky, who was best known for his work on financial
bubbles but also noted what he felt was the inherent tendency of
market systems to fall short of full employment. MMT proponents
al
Like famed economist John Maynard Keynes, Modern Monetary Theory
advocates think government has an important role in offsetting
what happens when demand falls short of what’s needed to keep
everyone who wants a job employed. They draw also on the ideas
of Hyman Minsky, who was best known for his work on financial
bubbles but also noted what he felt was the inherent tendency of
market systems to fall short of full employment. MMT proponents
al
Posted by Reuters