What Is Modern Monetary Theory?

"On the question of budget deficits, Prof. Kelton, like Keynes, most emphatically contends that they do matter. Debt, in and of itself, can do considerable harm. But also like Keynes, her MMT theory adds an important nuance. Not all deficits, she points out, are alike. If the deficit results from spending on things like infrastructure or education or, perhaps, research and development (R&D), it can foster an acceleration in economic growth that pays an ample return on the outlays and the debt incurred to finance these policies, enough return to ease the burden of debt."

Ezrati, Milton (May 28, 2019) What Is Modern Monetary Theory? https://www.forbes.com/sites/miltonezrati/2019/05/28/what-is-modern-monetary-theory/?sh=267e14e33186