It is not surprising that current and retired central bankers feel threatened by Modern Monetary Theory. With deep roots in the Keynesian tradition and a consistent commitment to achieving full employment, MMT shows that good economics and sound policy doesn't have to be shrouded in obscurantist cant.
Galbraith fell for the punch line.
MMT says government should have a continuing devaluation program. There is no connection between that and unemployment except Skelton's delusion.
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