MMT And Government Finance: You Can't Always Get What You Want
-- this post authored by Michael U. Krause, Thomas A. Lubik, and Karl Rhodes During the past 25 years, low-interest rates and highly expansionary monetary policy with little apparent inflation have created the illusion that a government can simply print money to fund exorbitant deficit spending with no repercussions. This core tenet of so-called "modern monetary theory" ignores the fact that deficit spending is constrained in the long run by a government's ability to satisfy creditors. Promoters of modern monetary theory (MMT) - including a growing number of pundits and policymakers - are toy...
Source: econintersect.com