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Key Words: Larry Fink — head of world’s largest asset manager — labeled Modern Monetary Theory ‘garbage’

Larry Fink, the CEO of the world’s largest asset manager, doesn’t hold a very high opinion of a controversial economic theory that has steadily gained adherents since its emergence on the Wall Street landscape last fall.

Proponents of so-called Modern Monetary Theory, or MMT, argue that a government that borrows in its own currency doesn’t need to worry about running up a deficit (as long as inflation isn’t running out of control) because it controls the money printing press.

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