Economics
MMT Has Been Around for Decades. Here’s Why It Just Caught Fire
- U.S. budget already deep in the red, and markets have shrugged
- Trump, Ocasio-Cortez and Japan also offer support for MMT case
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Over a lifespan of about three decades, Modern Monetary Theory has often been badmouthed -- by obscure bloggers. Not by the likes of Jerome Powell and Larry Fink.
The economists who developed it mostly operated on the periphery of academia and the internet. Now their ideas have broken into the mainstream. Hardly a day passes without some Wall Street titan or policy heavyweight weighing in –- usually to dismiss the doctrine, though there’s been support too.