Washington Post has a lengthy piece on the Modern Monetary Theory. Anybody still in possession of basic mental faculties would find MMT ridiculous. There will always be a school of thought that assumes it has figured out the truth and that nobody else quite gets it. Just because a nutty theory exists, it does not mean that it should taught as part of the curriculum!!!
A point worth noting from the article:
“Warren Mosler, a hedge fund manager who lives in Saint Croix in the U.S. Virgin Islands — in part because of the tax benefits — is one proponent. He’s perhaps better know for his sports car company and his frequent gadfly political campaigns (he earned a little less than one percent of the vote as an independent in Connecticut’s 2010 Senate race). He supports suspending the payroll tax that finances the Social Security trust fund and providing an $8 an hour government job to anyone who wants one to combat the current downturn.
The theory’s followers come mainly from a couple of institutions: the University of Missouri-Kansas City’s economics department and the Levy Economics Institute of Bard College, both of which have received money from Mosler”