Episode 13: Modern Monetary Theory (feat. Bill Mitchell)

Recently, Modern Monetary Theory (MMT) has gained public attraction especially in the US. The rise of the heterodox economic theory is, partly, due to the fact that it has been associated with the Green New Deal, a state-led public investment program meant to transfer the US economy and tackle the climate crisis. MMT has provided progressive politicians with the means to answer the obvious question: how to pay for the GND? Timo Harjuniemi and Lauri Holappa are joined by one of the most influential MMT scholars, Bill Mitchell. Bill Mitchell is a professor of economics at the University of Newcastle, Australia. Mitchell talks with us about the foundations and history of MMT and addresses the criticisms hurled at it by mainstream economists. Moreover, we discuss how the crisis of the neoliberal era and mainstream economic thought relates to the rise of MMT. And what about the future? What does it hold for MMT? See Bill’s blog: http://bilbo.economicoutlook.net/blog/ See also the new MMT textbook by Bill Mitchell, Randy Wray and Martin Watts: http://bilbo.economicoutlook.net/blog/?page_id=33139 Bill's Twitter: https://twitter.com/billy_blog