Full Employment and the Environment

Opposition to Modern Monetary Theory (MMT) tends to come from two different directions. From the one side, there are those who deny that monetarily sovereign governments have the fiscal capacity to maintain full employment and price stability. From the other side, there are some who accuse MMT of failing to account for the environmental consequences of full-employment policies. Addressing criticisms of the first type has been a major focus of earlier posts. But it is actually criticisms of the second type that would, if valid, give far greater cause for concern.

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