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GetUp's MMT push in Australia 'fraught with danger'

Matthew Cranston

A theory of monetary economics similar to that which led to hyperinflation in the Weimar Republic is being promoted by GetUp, with the activist group paying for one of the theory's powerful proponents – Bernie Saunders' senior economic advisor Dr Stephanie Kelton – to fly to Australia to extol the supposed virtues of bigger government spending.

Modern monetary theory (MMT) attempts to exploit the global phenomenon of interest rates and inflation so low that central banks' monetary policy becomesmuch less powerful in managing the economic cycle.

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Matthew Cranston was The Australian Financial Review’s United States correspondent

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    Original URL: https://www.afr.com/policy/economy/getups-mmt-push-in-australia-fraught-with-danger-20190315-h1cevq