fbpx A Skeptic’s Guide to Modern Monetary Theory | Harvard Kennedy School

Additional Authors:

  • N. Gregory Mankiw


November 12, 2019, Paper, "Over the past year or so, much media attention has focused on a new approach to macroeconomics, dubbed Modern Monetary Theory (MMT) by its proponents. MMT burst on the scene in an unusual way. From its name, one might guess that it arose at top universities, as prominent scholars debated the fine points of macroeconomic theory. But that is not the case. Instead, MMT was developed in a small corner of academia and became famous only when some high-profile politicians—particularly Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez—drew attention to it because its tenets conformed to their policy views."

Non-HKS Author Website - N. Gregory Mankiw