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Time to Celebrate Modern Money Theory?

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  • Yeva Nersisyan
  • L. Randall Wray

Abstract

A recent article in the New York Times asks whether Modern Money Theory (MMT) can declare victory after its policies were (supposedly) implemented during the response to the COVID-19 pandemic. The article suggests yes, but for the high inflation it sparked. In the view of Yeva Nersisyan and Senior Scholar L. Randall Wray, the federal government's response largely validated MMT's claims regarding public debt and deficits and questions of sovereign government solvency--it did not, however, represent MMT policy.

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  • Yeva Nersisyan & L. Randall Wray, 2022. "Time to Celebrate Modern Money Theory?," Economics One-Pager Archive op_69, Levy Economics Institute.
    • Handle: RePEc:lev:levyop:op_69
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