I’ve written extensively over the past years about the rise of Modern Monetary Theory (MMT) and all the terrible dangers it entailed from its very birth, not just for our economies, but for our societies too. Although it captured media interest and monopolized a lot of “expert” debates at the time, one wouldn’t be blamed for thinking it was merely a “flash in the pan”, just another crazy idea that the establishment entertained for a while to appease the most left-leaning elements in their ranks, but one that thankfully, quickly fizzled out.
Indeed, it’s been a long time since we saw any mention of it in the mainstream financial press. Most likely, the unsuspecting news consumer would reason, it just fell out of favor, it was simply too ridiculous to try and seriously defend.
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