Wednesday, May 6, 2020

Statewide’s Michalakis: No choice but MMT — Elizabeth Fry

More public spending money and a high deficit is not the problem if countries issue their own currency, he added, before conceding that “the market can’t solve the three great market failures of our time – a downturn, climate charge and a health crisis.”
“Since 2008 we’ve had the GFC, the European crisis and now we have COVID 19,” the CIO said. “We are now entering a period of new international economics.”...
Investment Magazine
Statewide’s Michalakis: No choice but MMT
Elizabeth Fry

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