The Value in Understanding Modern Money Theory (MMT)

When we reframe the issue of deficits and debt and look at it from the perspective of how government actions affect the private sector, we get a completely different perspective on the economy. This is what MMT economists try to do—to evaluate government (fiscal and monetary) policy actions based on their impact on the private sector, rather than on some vague metric of what is an acceptable level of deficits and debt.

– L. Randall Wray written testimony to Congress.

Randall Wray demonstrating that MMT differs in many ways from the current mainstream orthodox economics.  Wray has been attempting to educate and demonstrate this to economists and the public alike for decades.