Macro N Cheese

Talking to Warren Mosler reminds us just how far MMT has come since the days he traveled from conference to conference, peddling his intellectual wares. Well, they no longer laugh at Mosler Economics, AKA Modern Monetary Theory. It’s a well-known part of MMT history that Stephanie Kelton, fresh out of grad school, set out to disprove his assertions, point by point, and ended up making MMT her life’s work. Today, in Warren’s view, she’s arguably the most influential economist in the world, because all of the powerful economic advisors have read The Deficit Myth. Of course, he gives credit to Randy Wray, Bill Mitchell, Mat Forstater, and those who came after, but, he says, her book saved the world.   That we get this deficit spending is just great, you know, that we've had recently. You could say MMT has saved the world. Whether it knows it or not. There's no way they would have done three trillion and now talking another two trillion. And there hasn't been a single mention of a tax.   In this fi