A heterodox school of economic thought known as modern monetary theory has significant implications for how Canadians understand public debt and deficit spending.
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Congress is spending trillions of dollars trying to rescue the US economy and support workers and businesses. Can America afford it? ‘No sweat,’ according to modern monetary theory.
Modern Monetary Theory is suddenly popular because it implies governments can spend as much as they need to. But that spending comes with risks.
The new chancellor’s plans won’t look half as prudent if the economy tanks.
Top contributors
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Professor of Finance, University of Liverpool
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Emeritus Professor of Economics (Griffith University) and Teaching Associate (University of Queensland), Griffith University
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Part-Time Professor of Economics, The New School
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Associate Professor of Economics, School of Public Policy and Urban Studies Program, Simon Fraser University