Summary:
The essential claim of MMT is sovereign currency issuing governments, with flexible exchange rates and without foreign currency debt, are financially unconstrained. This paper analyzes the macroeconomic arguments behind that claim and shows they are suspect. MMT underestimates the economic costs and exaggerate the capabilities of deficit financed fiscal policy. Those analytic shortcomings render it ...
Topics:
tom considers the following as important: Economics, Political Economy, Uncategorized
This could be interesting, too:
The essential claim of MMT is sovereign currency issuing governments, with flexible exchange rates and without foreign currency debt, are financially unconstrained. This paper analyzes the macroeconomic arguments behind that claim and shows they are suspect. MMT underestimates the economic costs and exaggerate the capabilities of deficit financed fiscal policy. Those analytic shortcomings render it […]
The essential claim of MMT is sovereign currency issuing governments, with flexible exchange rates and without foreign currency debt, are financially unconstrained. This paper analyzes the macroeconomic arguments behind that claim and shows they are suspect. MMT underestimates the economic costs and exaggerate the capabilities of deficit financed fiscal policy. Those analytic shortcomings render it ...
Topics:
tom considers the following as important: Economics, Political Economy, Uncategorized
This could be interesting, too:
tom writes The Ukraine war and Europe’s deepening march of folly
Lars Pålsson Syll writes Schuldenbremse bye bye
Lars Pålsson Syll writes What’s wrong with economics — a primer
Stavros Mavroudeas writes CfP of Marxist Macroeconomic Modelling workgroup – 18th WAPE Forum, Istanbul August 6-8, 2025