MMT and the deficit myth — Lars P. Syll

Summary:
What Modern Monetary Theory (MMT) does is more or less what Knut Wicksell tried to do more than a hundred years ago, when he in 1898 wrote on ‘pure credit systems’ in Interest and Prices (Geldzins und Güterpreise). The difference is that today the ‘pure credit economy’ is a reality and not just a theoretical curiosity — MMT describes a fiat currency system that almost every country in the world is operating under.Lars P. Syll’s BlogMMT and the deficit mythLars P. Syll | Professor, Malmo University

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