What is Modern Monetary Theory?

Modern Monetary Theory is, in one sense, just reality. In the other and more important discussion MMT is a simple ignorance of the original question being asked.

Modern Theory

The modern part of the theory comes from the fact that we’ve really only had fiat currencies these last few decades. Before the mid 1970s at least some sort of lip service was paid to the idea that the value of a currency was backed up by something or other.…

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