Moderen Money Theory – A Primer
February 22, 2012
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You may not have heard about it, but it is gaining traction. Modern Money Theory is advocating deficit spending and wants the Government to issue more debt. Money is “state money”, so a sort of Chartelist position. Professor Randell Wray of University of Missouri-Kansas City and Levy Institute is one of their main proponents, and they have some very active blogs, see Naked Capitalism and New Economic Perspectives. The “family tree” of the school is included in this recent article in the Washington Post.
This article in the Post gives a good overview of their main views, whereas this post from the FT today is an indication that their views are gaining influence in mainstream media. For more info go this recent post by Prof Wray.