2021: What does Munger think of Modern Monetary Theory?

BECKY QUICK: As a follow-up to that, Pat Cain writes in, “What’s your opinion about the economic theory MMT, especially the United States, because it’s the reserve currency for the world?”

CHARLIE MUNGER: Well, I think they’re more — I think the Modern Monetary Theorists are more confident than they ought to be, too.

I don’t think we, any of us, know what’s going to happen to this stuff.

I do think there’s a good chance that this extreme conduct is more feasible than everybody thought. But I do know, if you keep just doing it without any limit, it will end in disaster.