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Is Modern Monetary Theory just Keynes rebadged? Many think so—but they’re wrong. This video compares Keynesian ideas on borrowing and balanced budgets with MMT’s claim that governments create money when they spend. Understanding this difference changes how we think about debt, inflation, and what governments can really do.
By Richard MurphyIs Modern Monetary Theory just Keynes rebadged? Many think so—but they’re wrong. This video compares Keynesian ideas on borrowing and balanced budgets with MMT’s claim that governments create money when they spend. Understanding this difference changes how we think about debt, inflation, and what governments can really do.