mmt

#MMT was born out of the insight that if you issue debt in your own currency, you have no worries about paying it off, because you simply issue more currency. Of course you need to worry about inflation (the capacity of your real economy to absorb this newly-issued currency)

I know a lot of people dunk on Modern Monetary Theory (#MMT), but it’s actually quite good and illuminating (as opposed to its application). The theory came about in the early 90s when Warren Mosler was trying to understand central bank monetary operations, during a time when fully fiat…