The debate over Modern Monetary Theory
Comment of the Day

March 26 2019

Commentary by Eoin Treacy

The debate over Modern Monetary Theory

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Eoin Treacy's view

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The discussion about Modern Monetary Theory is inconvenient because it brings into the public eye what governments and central banks have been doing all along. It is very convenient to sport a façade of adherence to the ideal of balanced budgets, spending within your means, low inflation and preservation of purchasing power. However, if we look at the history of government these ideals are rarely realised. Meanwhile, deficit spending, lavish social programs and rising debt ratios are the rule rather than the exception.

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