Heterodox
Yves Smith: I think Modern Monetary Theory proponents have made acceptance of their ideas a bit more difficult by not drawing a bright line between their theory, which is a description of how government spending works in a fiat currency system, versus what they believe are resulting sound policy approaches, such as setting the price of labor (a Job Guarantee) rather than the price of money. Some folks seem slow on the uptake. How loud to MMT economists need to shout? (shakes head) Why...
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