Modern Monetary Theory.

Can we afford it? Yes. Yes, we can.

Rolled up bills from different international currency. Image has a rainbow, streaky filter overlayed.

Few concepts get under the skin of traditional economists, Wall Street executives and academics as Modern Monetary Theory, or MMT. We’ve been building to this episode for quite a while in our examinations of the United States budget and it’s time to properly Unf*ck this massively important economic concept. MMT posits the idea that any government that issues its own currency can run extraordinary deficits to finance basically anything without fear of negative monetary or fiscal consequences. In short, all of those wonderful progressive notions like universal healthcare, a federal jobs guarantee and food security are entirely possible without mortgaging our future.

Read the full essay on substack
Rolled up bills from different international currency. Image has a rainbow, streaky filter overlayed.