The Rise of Modern Monetary Theory Could Trigger Fiscal Armageddon


Modern Monetary Theory is an economic school of thought whose time has come because it offers Progressives the intellectual justification they need to implement massive new spending initiatives without raising offsetting revenue. To the extent that fiscal conservatives have thought about MMT at all, their critiques have been too dismissive. MMT has some valid insights, but its surface validity comes with a danger:  if MMT takes hold, it will send our country down a very dangerous path.