James Montier — Market Macro Myths: Debts, Deficits and Delusions

In the context of the role that debts and de cits play in overall economic policy, in this paper I focus on the philosophy known as “sound nance,” which includes adherents who believe that governments should seek to balance their budgets. I, however, take a different view, and believe that the role of government when dealing with budget deficits should be one of “functional nance,” which ensures that the policies implemented help to reach the overarching goals of macroeconomic policy (generally held to be full employment and price stability).

This paper attempts to show why the proponents of sound nance are mistaken by defining and unpacking a series of “myths” that are foundational to, or at least helpful to, convincing us that sound nance requires that governments run a balanced budget.…

James Montier goes full "functional finance," and MMT without referring to it specifically. He does mention Randy Wray ad Bill Mitchell.

… Bill Mitchell – one of the few living economists whom I respect deeply. 

Word is getting around.

GMO White Paper — January 2016
Market Macro Myths: Debts, Deficits and Delusions
James Montier