I have been re-reading the Functional Finance and the Federal Debt paper this afternoon. There are crucial differences between Functional Finance Theory (FFT) and Modern Monetary Theory (MMT). Therefore, it (MMT) was not all in Lerner. Let me comment on FTT from an MMT perspective. source: https://de.wikipedia.org/wiki/Abba_P._Lerner#/media/Datei:Abba_Lerner.jpg The start of the paper is very promising: […]