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Flat White

Sorry Alan, but Modern Monetary Theory is a load of cobblers

20 July 2020

4:49 PM

20 July 2020

4:49 PM

Alan Kohler considers the current crisis provides the ideal laboratory for applying the catchily titled Modern Monetary Theory — MMT.  He sees this as a paradigm change whereby the government just keeps spending money with little concern for debt in order to maintain employment.  He considers this to be a modern version of the stimulus to counteract a downturn, one that goes much further than policies favoured by Keynesian economics.   

Keynesian economics is a prescription for ironing out the peaks and troughs in an economic cycle

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