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Modern Monetary Theory economists are the trailblazing left-wingers in the field. Nobel laureate Paul Krugman says he’s farther left than them.

Both schools are inspired by the great 2oth-century English economist John Maynard Keynes, whose theory of fiscal stimulus influenced not only FDR’s response to the Great Depression of the 1930s, but $5 trillion of federal spending amid the coronavirus recession.

Krugman was one of the “neo-Keynesians” who worked to integrate his theories with neoclassical economics of the 1950s and onward. But in recent years, MMT has taken that legacy forward, arguing that, details ⇒

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