Business
The real reason to worry about MMT is not the theory but the practice – Sydney Morning Herald
Modern Monetary Theory is neither as modern and revolutionary as its proponents imagine, nor as crackpot as many of its critics believe.
The rival group is older, more experienced economists and a lot of ordinary citizens who see it as a dangerous, even crazy, idea that would surely end in disaster. It would be the primrose path of indiscipline that led to ever-rising inflation, maybe even hyper-inflation a dollar that was worth next-to-nothing and unemployment that was worse, not better.
If you give a bunch of vote-buying politicians a licence to spend as much as they like … how could you be sure theyd stop?
Ostensibly, the opponents…
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