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Modern monetary theory or modern money theory (MMT) is a heterodox [1] macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires. [2]
Monetary inflation is a sustained increase in the money supply of a country (or currency area). Depending on many factors, especially public expectations, the fundamental state and development of the economy, and the transmission mechanism, it is likely to result in price inflation, which is usually just called "inflation", which is a rise in the general level of prices of goods and services.
Stephanie A Kelton (née Bell; born October 10, 1969) is an American heterodox economist and academic, and a leading proponent of modern monetary theory. [1] She served as an advisor to Bernie Sanders's 2016 presidential campaign and worked for the Senate Budget Committee under his chairmanship.
Tick off a loss for the modern monetary theorists amid rising inflation, says InfraCap Founder and CEO Jay Hatfield. 'Verdict is in' on modern monetary theory, strategist says [Video] Skip to main ...
The Biden-Harris administration began their term assuming they could “run the economy hot” while also avoiding inflation. Opinion - Did modern monetary theory elect Donald Trump? Skip to main ...
Insider spoke with Krugman on Wednesday to get his take on how the US recovery's progressing. Here is a lightly edited transcript of the conversation.
Modern Monetary Theory; Money creation - process in which private banks ... Depression, Inflation, and Monetary Policy; Selected Papers, 1945–1953 Johns Hopkins Press.
The theory is one of the strongest advocates in the debate among mainstream economists for combatting inflation primarily through fiscal policy instead of monetary policy. [2] The theory also disputes the premise of Modern Monetary Theory that inflation can be controlled when it starts to rise. [1]