Modern Monetary Theory (MMT) Explained in One Minute @OneMinuteEconomics

Uploaded February 2021 | Updated September 2026, 1 hour ago

Yes, it's time for one of the most requested videos in the "history" of the channel: the Modern Monetary Theory (aka MMT) one. MMT is also, as you might have guessed, one of the most controversial topics in economics at the moment of writing.

Simply put, all of the ingredients are there for videos about Modern Monetary Theory to generate a fair bit of buzz. On the one hand because, due to the post-pandemic context we find ourselves in, there is undeniable demand for economic "medicine" that promises to fix everything and MMT definitely qualifies.

At the same time, however, many economists doubt that Modern Monetary Theory can deliver on those promises. To put it differently, quite a few economic thinkers consider MMT nothing more than populism articulated by intellectuals rather than politicians.

As you will find out by watching the video, Modern Monetary Theory promotes a far more aggressive approach to currency creation than even Neo-Keynesianism and from many perspectives, can be considered the exact opposite of Austrian Economics. Needless to say, for these reasons and many others, debates surrounding these topics are far too frequently anything but civil.

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