Bill Mitchell: Demystifying Modern Monetary Theory

The video discusses Modern Monetary Theory (MMT), focusing on its principles, such as the relationship between spending and income, fiscal sustainability, and sovereign currency. It debunks myths about the gold standard and hyperinflation, emphasizing that governments issuing their own currency cannot go bankrupt. The Job Guarantee program is proposed as a solution to unemployment, acting as a buffer stock. The video concludes with a discussion on the government's role in choosing unemployment rates and the potential benefits of adopting MMT policies.

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