SINGAPORE (April 8): Is Modern Monetary Theory a potential boon to economic policymakers or, as Harvard Professor of Economics and Public Policy Kenneth Rogoff recently argued, a threat to “the entire global financial system” and the front line of the “next battle for central-bank independence”? For Rogoff, the threat seems to stem partly from the fear that MMT adherents may come to power in the US in the 2020 elections. But he also makes several substantive arguments, common to many critics of the MMT movement.

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