Modern Monetary Theory (MMT): The Differences Between Theory And Reality

"Modern Monetary Theory," despite the arcane ring to the term, is a hot topic being bandied about in media these days.

Newcomers to the theory might assume that the whole idea is a contrived excuse to spend more federal dollars despite an already sizable deficit and debt load. Indeed, that may very well be the progressive Left's motivation for embracing the theory as of late (see the video "How Marxism and Modern Monetary Theory Go Hand-in-Hand"), but the theory itself has been around for a while. Mostly, the theory's adherents have been cloistered to economics departments (and only a small clique of economists, at that), so the academic theorists certainly have Bernie Sanders and Alexandria Ocasio-Cortez to thank for their moment in the sun.

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