BBC: Howard Mustoe: Can governments ever run out of money?

In the UK and US, political parties are promising spending splurges to appease voters after a decade of squeezes.

MMT is going mainstream.

Whether it's more nurses, frozen tax promises, free broadband internet or more social housing in the UK; or tax cuts and green energy investments in America, public spending is set to surge.

This sudden abandonment of fiscal rectitude comes amid the rise in prominence of a way of thinking about money, spending and the economy - Modern Monetary Theory (MMT).

According to its key architect, US businessman Warren Mosler, it is based on a simple idea - that countries that issue their own currencies can never run out of money in the same way a business or person can.

BBC

BBC: Howard Mustoe: Can governments ever run out of money?