Mike Cornips of Trader's Circle advises his readers:
I notice that Modern Monetary Theory (MMT) is slowly gaining more prominence in the blogosphere with websites such as Pragcap.com, Bill Mitchell's website, Macrobusiness.com.au and others analyzing the economy in the context of MMT, rather than the Neo-Classical economic view of the world pushed by most politicians and main stream media.
MMT is a much more simplistic and rational way of viewing the flows of the economy, since it looks at the various national accounts from accounting perspective that requires all the flows to balance. Unheard of really, in terms of our addiction to "headline media", but MMT is truly a framework which allows the average interested reader to sort out the bull from the dust.
MMT's conclusions tend to be counter-intuitive, but it is a consistent and robust methodology that I would recommend to all readers with an interest in macro-economics to study. An understanding of MMT will also give you a perspective when analyzing investment trends....
Read the rest here: Modern Monetary Theory (MMT)