MMT

Simply put, MMT says that a “monetary sovereign” government, such as the United States, does not need to worry about budget deficits given that it prints its own currency.

Mr. Daniels wrote this about MMT: “The suggestion was that a government could borrow unlimited amounts of money in its own currency and repay it without risk simply by printing more of that currency.”

������ he did not do, however, was explain why MMT fails as an economic theory.

MMT died a quicker death in the public square than its predecessors in quackery, or so it seemed.

Krugman, attacking MMT more than once, has called it “indefensible” and “the cryptocurrency of macroeconomics.”