Summers: 'Misguided' MMT Acolytes Should Eye Turkey's Woes

The video discusses Turkey's decision to cut interest rates from 14% to 13% as part of President Erdogan's approach to combat inflation, which aligns with modern monetary theory. However, this strategy has not been successful for Turkey, and the video criticizes the theory's effectiveness, hoping that its proponents in the US take note.

What was the interest rate change implemented to combat inflation?

• From 15% to 14%

• From 14% to 13%

• From 12% to 11%

• From 13% to 12%

Who is described as the world's first practical modern monetary theorist?

• President Biden

• President Putin

• President Macron

• President Erdogan

What economic theory is President Erdogan applying?

• Keynesian Economics

• Supply-Side Economics

• Modern Monetary Theory

• Classical Economics

What has been the outcome of Erdogan's application of modern monetary theory so far?

• It has been moderately successful

• It has been very successful

• It has not worked well

• It has had mixed results

What is hoped for the acolytes of modern monetary theory in the United States?

• That they will ignore Erdogan's example

• That they will adopt Erdogan's strategies

• That they will learn from Erdogan's example

• That they will support Erdogan's policies