2min chapter

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The Rise And Fall Of Monetary Policy - Ian Macfarlane

The Joe Walker Podcast

CHAPTER

Modern Monetary Theory

It's a revival of an approach that, for example, we had in Australia back in the 15s and 60s and even the 70s. It's really based on the writings of a very quite influential economist called Abapie Lerner. He said that the job of the government was to ensure full employment and just put up with whatever debt came out as a result - which is exactly what modern monetary theory does.

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