Modern Monetary Theory: Coming Your Way Soon (Unless Big Changes Are Made)

(Oct 2019) Peter considers whether the ultimate in loose monetary policy is really the heretical vision many believe it to be.


Japanese leaders have, in the past, often railed against public criticism of their policies by overseas economists. Never before, though, have they issued strongly worded rebuttals of foreign praise. Yet this is what happened when Professor Stephanie Kelton of Stony Brook University voiced her approval of government economic policy during her recent visit to Japan.

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