Podcast #16: Bryce Wilkinson unpacks Modern Monetary Theory
The concept of modern monetary theory is back. This set of economic ideas has been around for a while but has risen to prominence recently through the work of American economist and adviser to Bernie Sanders' 2016 presidential campaign, Stephanie Kelton, whose book 'The Deficit Myth' was released in June.
Economists aren’t really divided about the idea, in fact, most serious economists reject it as unsound wishful thinking. But New Zealand Initiative senior fellow Bryce Wilkinson says if Modern Monetary Theory is entering public discourse again, it’s worth looking into what it’s all about.