Modern Money Theory, better known as MMT, has been a model of economics that many progressive politicians have endorsed for a while but has been disregarded by many experts.
There are massive advantages to this theory, but also deep limitations, and these are important to understand.
MMT says the government can finance any budget deficit by printing whatever amount of money is necessary, and so the government has few if any monetary limits.
MMT says governments do not need to raise taxes before spending: they spend first and then tax. Is that true?
COVID has taken governments around the world to new unprecedented debt levels. Can this continue?
Find out on Emir Phillips - American Pragmatist
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