Good ideas don’t always outcompete bad ones. But willful foolishness usually has a cost. So it is with modern monetary theory. Ironically, this basket of economic fallacies, embraced by policymakers ...

Once upon a time, not that long ago actually, the federal deficit and national debt mattered. In 2008, then-presidential candidate Barack Obama said, “We’re just taking out a credit card from the Bank ...

Merryn Somerset Webb speaks with Panmure Liberum Chief Economist Simon French to unpack Modern Monetary Theory—the idea that governments issuing their own currency can spend freely, constrained only ...

Note: Marketplace podcasts are meant to be heard, with emphasis, tone and audio elements a transcript can’t capture. Transcripts are generated using a combination of automated software and human ...

Few words spark more anxiety in public debate than “national debt” and “government deficit.” National debt is the total amount of money the government owes, accumulated over years of running deficits.