Modern Monetary Theory is no Magic Money Tree

New paper by neoliberal think tank the Adam Smith Institute breaks down the case for Modern Monetary Theory:

  • MMT adherents claim that government spending can activate substantial unused economic capacity is false, and practice shows impact is inflationary and hyperinflationary.
  • From the Green New Deal to Corbyn’s People’s Quantitative Easing, MMT is gaining ground in mainstream political activism while still being a fringe economic theory
  • Venezuela’s economic collapse following years of deficit…