The idea that government should use deficit spending to support an economy in crisis is not unique to MMT – economists across the political spectrum supported an aggressive fiscal response in 2020.

Modern Monetary Theory (MMT) is a macroeconomic theory that government spending should not be restrained due to the fear of rising debt.

Despite James Mackintosh’s suggestion in “Streetwise: Modern Monetary Theory Isn’t Coming in the Future. It’s Here Now” (Markets, Nov. 22), MMT remains a niche theory endorsed by only a ...

MMT allows us to recognise that the government can commit to real full employment. We can instead focus on increasing the quality of jobs and ensuring our economy generates prosperity for everyone.