Rear Window
Elaine Stead graduates to MMT
Michael RoddanNational correspondentModern Monetary Theory suggests that the only constraint on government spending is finite resources, such as labour or goods, the inflation of which can be tempered by raising taxes.
It embodies the type of artless thinking that dominates our self-congratulatory classes, who seek to overthrow systems by throwing out the baby, the bathwater and the whole bathtub.
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