For all the talk of Modern Monetary Theory representing a brave new frontier, it is easy to forget that the United States has gone down this road before, when the US Federal Reserve financed the war effort in the 1940s. Then, as now, the question is not about government debt, but about the debt's purpose and justification.Lays out basic questions about implementing MMT politically in a politically divisive environment like the contemporary US.
Tuesday, May 28, 2019
Robert H. Dugger — Modern Monetary Inevitabilities
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