Saturday, August 1, 2020
Kelton argues that our government’s inability to provide for citizens isn’t due to a lack for money; instead, our leaders lack political will.
Kelton — who has worked as an economist for Democrats in the Senate and as an adviser to Bernie Sanders’s presidential campaigns — is one of the leading proponents of Modern Monetary Theory, or M.M.T. The theory argues that because the government is in charge of its own currency, it cannot “run out” of money the way a household or a business can, and it therefore does not need to raise taxes to fund government spending.
MMT actually stands for Marvelous Money Train. And it's AWESOME!