A thorough defense of Modern Monetary Theory
“First they ignore you, then they laugh at you, then they fight you, then you win” — Gandhi’s aphorism neatly describes the trajectory to date of Modern Monetary Theory, the latest incarnation of “chartalism,” which holds that money comes into existence through government spending, and is taken out of circulation when the government taxes it…
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JHayes@RationallyThinkingOutLoud.com
