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05/19/2020

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Thanks for sharing these more detailed views behind the discussion. I found the Bloomberg interview particularly edifying in its way of illustrating how the monetary response to this crisis is not only unprecedented, but even with the benefit of hindsight, unnecessary and overbearing to apply to past crises. This is a different beast for which the government has developed a different economic cure. Along with this unprecedented response, it looks like Modern Monetary Theory is gaining the momentum to became a mainstream economic philosophy. Is it possible that this level of deficit spending outlast this crisis to become the “benchmark” or precedent of robust economic governance?
https://www.cnbc.com/2020/04/29/op-ed-pandemic-moves-modern-monetary-theory-from-the-fringes-to-actual-us-policy.html

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