Modern Monetary Theory (MMT) is a school of economic thought that analyzes the way money influences economies. It rose to prominence in the early 21st century, in part because of the Great Recession. MMT was also popularized by a number of high-profile economists, including Stephanie Kelton, Bill Mitchell, Randall Wray, and L. Randall Hoven.

Despite its growing popularity, MMT remains a controversial school of thought. Critics argue that it places too much emphasis on central banks and government spending, and that it does not adequately account for inflationary risks. Supporters counter that MMT provides a more accurate description of how modern economies actually operate