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Bob Murphy: How Bad Is the National Debt?

Just Asking Questions

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Critiquing Modern Monetary Theory

This chapter critically examines Modern Monetary Theory (MMT) and its predictions regarding inflation in the wake of increased government spending, particularly post-pandemic. It highlights the growing skepticism toward MMT as real-world inflation outcomes diverged from its forecasts and contrasts MMT's approach to traditional economic views. The discussion dives into the complexities of government budgeting and fiscal responsibility, emphasizing the implications of expansive fiscal policies in the context of economic realities.

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