Some people seem to think that modern monetary theory (MMT) is a set of policy options a country might adopt. It isn’t. It’s a description of how the economy of the country we live in really works. What’s powerful about it is that it describes actually happens – and so leads to better decision making.

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ABOUT RICHARD MURPHY
Richard Murphy is Professor of Accounting Practice at Sheffield University Management School. He is director of Tax Research LLP and the author of the Funding the Future blog. His best known book is ‘The Joy of Tax’.

This video was edited by Thomas Murphy.

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