‘If QE was a policy response to the idea that banks were too big to fail, the MMT response is based on the idea that an entire country cannot be left to fail. The question is: what happens if MMT doesn’t work to save a country in a crisis?’
Where has all that central bank COVID-19 money gone?
‘Once the public health crisis of COVID-19 is over, it might yet expose the flaws in this capital-led economy just as it has exposed the inadequacies of our public health systems that has suffered from under-investment over a decade of austerity.’