Money, fiscal policy, and interest rates: A critique of ...

www.thomaspalley.com

1 Money, fiscal policy, and interest rates: A critique of Modern Monetary Theory Abstract This paper excavates the set of ideas known as modern monetary theory (MMT). The principal conclusion is that the macroeconomics of MMT is a restatement of elementary well-understood Keynesian macroeconomics. There is nothing new in MMT’s

  Policy, Rates, Interest, Fiscal, Theory, Modern, Money, Monetary, Critique, Fiscal policy, And interest rates, 1 money, Critique of modern monetary theory