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...Doi s macroeconomic policy francoise drumetz and christian p ster modern monetary theory a wrong compass for decision making in the last few years so called mmt has been gaining prominence media public this article presents approach to money discusses its recommendations regarding scal aggregate demand management structural policies it advocates as well international aspects of overall appears that is based on an outdated state economic science claims are much exaggerated meaning more political manifesto than genuine georg friedrich knapp glecting other roles unit account store stm provides main theoretical underpinning value we brie y expose link with then economists analyse related both present themselves unorthodox at odds role central bank also mainstream indeed their attempt pro consider historical precedents possible implemen duce seriously questioned tation usa stance reviewers noted says nothing about lacks correspondence erroneous representation facts while ocampo labelled mag...