Modern Monetary Theory
Larbonne's eyes lit up, and he sat a little taller in his chair, “MMT is a heterodox macroeconomic theory that describes the currency as a public monopoly. It argues against the prevailing theory that money represents an enduring commodity. Instead, it contends that fiat currency is fully under government control and should not be operationally constrained by revenues regarding government spending.”
An uncomfortable silence replaced the buzz of conversation.
“Huh?” Was all that Anderson could muster by way of response.
Ranell stepped in, “Basically, it just says that the government cannot run out of money, and it essentially has no financial constraints. Unlimited funding, see?”
“Is this part of that digital currency thing they’ve been pushing?” Now it was Anderson’s turn to sound skeptical.
“That’s part of it, yes,” replied Larbonne.
Anderson made a rude, contemptuous sound and spun his chair away. He complained to no one in particular, “They're gonna be spying on everything we do now.”
Larbonne was visibly offended, “Actually, several of the proponents of MMT are being considered for the Nobel Prize!”
Ranell sensed that his team was losing their good mood due to differences of opinion about government policy. I don't care about any of that as long as GML stays in business.
“Why don’t we call it a day?” Ranell attempted a rally. “We’ve got a lot of work to do, but it can wait until tomorrow. We’ve got the Lockheed Martin contract. Let’s end on a high note and knock off early. We’ll hit it hard again in the morning.”
Ranell's steps were light as he returned to his car. He couldn’t remember the last time he felt free from the crushing weight of running GML. It was scorching hot inside, and he cranked up the air conditioning. As he waited for it to cool down, he connected his cell phone to Bluetooth to make a call. His hands trembled slightly. Ranell knew this was partly from excitement and partly because he and his wife had been fighting a lot lately. It would be good to have some positive news for a change, he thought.
“Hi, honey! Guess what?” He grinned at the cheerful reception. “Yep, I got it!” She was his biggest fan, his confidant, his friend. “The Skunk Works were amazing! I can't wait to tell you all about it. I'm coming home early today… yeah, I'm in my car now. Why don't you call and make us some reservations at Raffaello's? We're going to celebrate tonight!”
“I love you too,” he said softly before hanging up. It’s been a while since I’ve heard that.
Choose Option 1: Learn more about MMT
Choose Option 2: Continue Story