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Wednesday, April 29, 2020

Op-ed: Pandemic moves Modern Monetary Theory from the fringes to actual US policy — Robert Greifeld

  • The total amount of government economic aid in response to the coronavirus downturn is expected to exceed $10 trillion.
  • Our actions today resemble Modern Monetary Theory, a belief that sovereign governments with sovereign currencies can “print” or “coin” money to support full employment or essentially any government program.
  • As we enter the post-pandemic world, do we stay with the MMT-based philosophy of spending, or do we transition to a philosophy that deficits are dangerous?
CNBC
Op-ed: Pandemic moves Modern Monetary Theory from the fringes to actual US policy
Robert Greifeld

2 comments:

  1. This is ridiculous. Where is it policy? Powell ranting about the debt. Gov't loans to major corporations. This is not MMT.

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