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Should fiscal policy resemble private budgets?

Otmar Issing, FRANKFURT – Many people are now proclaiming that the COVID-19 pandemic has provided proof positive that Modern Monetary Theory (MMT) is the only way forward for governments. To the uninitiated, MMT probably sounds extremely sophisticated – even scientific. Its representatives speak as though they have developed a new economic paradigm comparable to the […]

From Dirk Ehnts, Econoblog101I have been re-reading the Functional Finance and the Federal Debt paper this afternoon. There are crucial differences between Functional Finance Theory (FFT) and Modern Monetary Theory (MMT). Therefore, it (MMT) was not all in Lerner. Let me comment on FTT from an MMT perspective

Modern Monetary Theory: Let’s look at it from India’s perspective Photo: Mint Share Via Read Full Story Stephanie Kelton is one of the most influential advocates of Modern Monetary Theory, or MMT. The MMT challenge to mainstream thinking on how to manage an economy has grown in popularity in recent years. It especially challenges the view that government spending to support an economy is constrained by tax collections. Kelton has written a lucid introduction to MMT, The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy. Much of it deals with the situation in th...