Modern Monetary Theory (MMT) is all the rage these days in economic circles. Advocates say that countries that issue their own currencies can run their treasury printing presses at will to finance fiscal priorities. But opponents squawk that MMT flies in the face of traditional economic rationale and would lead to hyperinflation, massive debt and economic malaise. Investment expert James Montier gets to the bottom of the controversy in a strong rebuff of the economic mainstream. Financial types will find this a compelling, provocative read.
About the Author
James Montier is an economist and a member of the asset allocation team at GMO LLC.