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What are the advantages and disadvantages of MMT?
Advantages include:
Stabilise failing markets.
Boost public spending on all social services including; education, medical, increased police force, etc.
Boost public spending on infrastructure.
Investment in under-developed communities.
Increased prosperity and standard of living.
Revolutionising the entire political economy.
What are the arguments against MMT?
Critics have argued that MMT is not a theory because there is no mathematical model. Others have argued that there is a theory but that there is nothing new and, even if there is, it is not valid, it is misleading, and it pushes the logic too far.
Who supports Modern Monetary Theory?
In 2019, MMT became a major topic of debate after U.S. Representative Alexandria Ocasio-Cortez said in January that the theory should be a larger part of the conversation. In February 2019, Macroeconomics became the first academic textbook based on the theory, published by Bill Mitchell, Randall Wray, and Martin Watts.
What is the goal of the MMT?
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Feb 14, 2023 · One of the main advantages of MMT is that it allows governments to create more money to fund public programs. This could include programs ...
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Jun 7, 2022 · Modern Monetary Theory challenges the notion that governments are supposed to pay for spending with taxes. It holds that taxes should control ...
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Modern Monetary Theory (MMT) is a macroeconomic theory that says government spending should not be restrained by fears of rising debt.
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Apr 26, 2021 · MMTers — as proponents of the theory are sometimes called — would argue there is no need to raise taxes, but this idea can be hard to swallow ...
Apr 15, 2020 · Advantages of MMT · Stabilise failing markets · Boost public spending on all social services including; education, medical, increased police ...
Mar 14, 2021 · There's no theory that gives you something for nothing. Practical implications for MMT: Pro's: No debt. No interest. No outside obligations ...