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