Multipolarity Premium Edition Teaser: Bold & Bankrupt - The Truth About MMT
Oct 2, 2025
Join economist Philip Pilkington, an expert in post-Keynesian and Modern Monetary Theory (MMT), as he dives into the transformative ideas surrounding money and debt. He discusses MMT’s intriguing emergence post-2008, its critique of traditional monetary policies, and the claim that sovereign nations can’t go broke. Pilkington sheds light on the implications of MMT's principles while cautioning about potential misapplications. Uncover the fascinating debate on whether government finance mirrors household budgets in this engaging conversation!
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Don't Treat Governments Like Households
- Tackle MMT directly when assessing sovereign solvency claims rather than relying on simple household analogies.
- Examine how money is actually created and used before concluding a country is 'bust' or solvent.
MMT Is Largely Descriptive
- MMT mainly distills post‑Keynesian monetary economics into a clear description of how fiat systems work.
- About 90% of MMT is a robust, descriptive account of modern banking and money creation.
Origin Story From Listservs
- Philip traces MMT's origins to 1990s online debates and figures like Bill Mitchell and Warren Mosler.
- He mentions writing two papers with Warren Mosler, showing personal connection to MMT's early development.
