MMT is gaining traction among progressives as an option for paying for massive government spending projects such as the Green New Deal. Even if it is useful for countries such as the U.S., can it be applied in developing countries?
Gerald Epstein responds to Randall Wray’s defense of MMT.
Randall Wray rebuts Gerald Epstein’s criticisms of Modern monetary Theory.
Gerald Epstein outlines his criticisms of Modern Monetary Theory (MMT).
Randall Wray, one of the founders of the economic theory known as Modern Monetary Theory (MMT) lays out some of its main arguments.
As alarm bells sound over the advancing destruction of the environment, a variety of Green New Deal proposals have appeared in the US and Europe, along with some interesting academic debates about how to fund them. Monetary policy, normally relegated to obscure academic tomes and bureaucratic meetings behind closed doors, has suddenly taken center stage.
