MMT is a theory that people love to love, and love to hate.The idea, which stands for Modern Monetary Theory, is frequently cited by academics and politicians on the left as evidence that the state has further capacity to spend without serious consequences to the economy (yet!). On the right, meanwhile, it’s lampooned as a muddle-headed idea that at best, will deter private sector investment and, at worst, takes us back to the cash-carted-in-wheelbarrows era of the Weimar Republic.(We realise this is a reductive view, and people on both the left and right also disagree with some of the principles of the theory, so don’t get uppity in the comments if you’re one of those types.)This FTAV writer is no expert in the nuances of the debate, but having followed it for the best
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MMT is a theory that people love to love, and love to hate.