Summers Says MMT Backers Should Look at Erdogan’s Turkey Woes - Bloomberg

Summers Says MMT Backers Should Look at Erdogan’s Turkey Woes Ex-Treasury secretary speaks after Turkey’s surprise rate cut Turkish inflation rate at 24-year high, lira near record low Former US Treasury Secretary Lawrence Summers urged supporters of modern monetary theory -- a heterodox economic school that argues governments can spend more than they think without spurring runaway inflation -- to look at the troubles such thinking has produced in Turkey. More:Summers Says MMT Backers Should Look at Erdogan’s Turkey Woes - Bloomberg