During the GFC, a new phenomenon emerged – the ‘We knew it all along’ syndrome, which was characterised my several mainstream New Keynesian macroeconomists coming out and claiming that some of the insights provided by Modern Monetary Theory (MMT) economists were banal and that their own theoretical framework already accommodates them.
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Bill Mitchell: Turkey tells us nothing about MMT – but MMT tells us a lot about why Turkey is in trouble
December 20, 2021
Mathew D. Rose
Economics, Finance, Financial Institutions, Globalisation, Inequality, National Politics
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When ever there is high inflation it is used as proof that Modern Monetary Theory is debunked. This is the case in Turkey. The real culprit is the neo-liberal policy of the IMF Read here
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