After more than four decades of dominance, free-market capitalism is facing a challenge.
It’s rival, the rather blandly named Modern Monetary Theory, promises to return economic planning to a less ideological footing.
It’s also keen to strike a blow against the “surplus fetish” that many economists now blame for declining public services and growing inequality.
This episode of Future Tense explores Modern Monetary Theory as an alternative to neoliberalism. Antony Funnell leads a discussion of the promises and problems associated with the idea.