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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72" style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Have we anyone here who is up to speed or has expertise on Modern Monetary Theory? I have looked into various sources and haven’t found an answer to a question I eventually posed to ChatGPT. It didn’t really answer. Here’s the question:<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:10.5pt;font-family:"Segoe UI",sans-serif'>Me: <b>What happens in modern monetary theory when part of a government accepts it and part of that government rejects it?</b><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:10.5pt;font-family:"Segoe UI",sans-serif'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:10.5pt;font-family:"Segoe UI",sans-serif'>ChatGPT:<o:p></o:p></span></p><div style='mso-element:para-border-div;border:solid #D9D9E3 1.0pt;padding:0in 0in 0in 0in'><p class=MsoNormal style='margin-bottom:15.0pt;border:none;padding:0in'><span style='font-size:10.5pt;font-family:"Segoe UI",sans-serif'>Modern Monetary Theory (MMT) is an economic framework that describes how a sovereign government that issues its own currency can use fiscal policy to achieve full employment and price stability.<o:p></o:p></span></p><p class=MsoNormal style='margin-top:15.0pt;border:none;padding:0in'><span style='font-size:10.5pt;font-family:"Segoe UI",sans-serif'>If part of a government accepts MMT and part of that government rejects it, then there may be a disagreement about how to approach economic policy. This could lead to political gridlock and a lack of consensus on how to manage the economy. Ultimately, the extent to which MMT is implemented in a given government will depend on the political power dynamics at play, as well as the prevailing economic conditions and priorities of the country.<o:p></o:p></span></p></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Can anyone here do better? It looks to me like if a government, or more specifically a congress in charge of government spending, is split between modern monetary theory accepters and rejectors, it sets up for an epic fail, as the USA is likely to witness shortly.<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>spike<o:p></o:p></p></div></body></html>