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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]
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.
Groups typically classed as heterodox in current discourse include the Austrian, ecological, [note 1] Marxist-historical, post-autistic, and modern monetary approaches. [2] [3] [4] Four frames of analysis have been highlighted for their importance to heterodox thought: history, natural systems, uncertainty, and power. [5]
The Biden-Harris administration began their term assuming they could “run the economy hot” while also avoiding inflation.
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 ...
Some contemporary proponents, such as Wray, situate chartalism within post-Keynesian economics, while chartalism has been proposed as an alternative or complementary theory to monetary circuit theory, both being forms of endogenous money, i.e., money created within the economy, as by government deficit spending or bank lending, rather than from ...
Modern Monetary Theory; Money creation - process in which private banks (primarily) or Central banks ... A Monetary History of the United States, 1867–1960. Princeton.
The Most Destructive Theory in Modern Finance. Morgan Housel, The Motley Fool. Updated July 14, 2016 at 6:45 PM. Much of what is taught in school about investing is theoretical nonsense. There are ...