Modern Monetary Theory

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In the book Modern Money Theory by L. Randall Wray, the author declares of MMT (that is, Modern Monetary Theory) that it will go through three phases of public opinion.

First, it will be ridiculed. Second, it will be violently opposed. Third, and finally, it will be accepted as self-evident. I’m not sure if it will play out that way, but I’m here for offer an essay which is probably straddling the first and second phases.

Interestingly, this prediction was word for word what a certain Elizabeth Holmes declared in this video when she was making her final, desperate bid to save Theranos from its inevitable failure.

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