In this bonus episode of the New Politics podcast, host David Lewis unpacks Modern Monetary Theory (MMT) – once dismissed as fringe but now at the centre of global economic debate. We explore its intellectual roots, from Georg Friedrich Knapp and Abba Lerner to modern voices like Warren Mosler, Bill Mitchell, L. Randall Wray and Stephanie Kelton, and examine how MMT shapes today’s policy battles over climate change, unemployment and inequality. From Japan’s record debt levels to US COVID stimulus, Canada’s healthcare experiments and China’s infrastructure spending, real-world tests are mounting, sparking fierce clashes between advocates who see MMT as a tool for resilience and critics who warn of runaway inflation. Is it the future of economic management or a dangerous illusion?#ModernMonetaryTheory #MMTExplained #EconomicsPodcast #FiscalPolicy2025 #GreenNewDeal #GlobalEconomy

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Modern Monetary Theory: Miracle or Mirage?

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