Time to Celebrate Modern Money Theory?

Yeva Nersisyan and L. Randall Wray

Economics One-Pager Archive from Levy Economics Institute

Abstract: A recent article in the New York Times asks whether Modern Money Theory (MMT) can declare victory after its policies were (supposedly) implemented during the response to the COVID-19 pandemic. The article suggests yes, but for the high inflation it sparked. In the view of Yeva Nersisyan and Senior Scholar L. Randall Wray, the federal government's response largely validated MMT's claims regarding public debt and deficits and questions of sovereign government solvency--it did not, however, represent MMT policy.

Date: 2022-02
New Economics Papers: this item is included in nep-cwa, nep-mon and nep-pke
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