by Summary:
‘Modern Monetary Theory gives us the power to imagine a new politics and a new economy’ Balancing budgets, reducing deficits and eliminating debt: these priorities have preoccupied the minds of many Canadian politicians, economists and voters, but a different theory of macroeconomics is having a moment, as the world weathers a pandemic. Modern Monetary Theory (MMT) proposes a shift in focus from a balanced budget to a balanced economy: one that offers full employment, a more equitable distribution of wealth and a social safety net for all who need one. At the moment, there appears to be a rare consensus among economists, business leaders, and politicians of all stripes that governments have to spend whatever it takes to ease the pain for millions of Canadians suffering the
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‘Modern Monetary Theory gives us the power to imagine a new politics and a new economy’ Balancing budgets, reducing deficits and eliminating debt: these priorities have preoccupied the minds of many Canadian politicians, economists and voters, but a different theory of macroeconomics is having a moment, as the world weathers a pandemic. Modern Monetary Theory (MMT) proposes a shift in focus from a balanced budget to a balanced economy: one that offers full employment, a more equitable distribution of wealth and a social safety net for all who need one. At the moment, there appears to be a rare consensus among economists, business leaders, and politicians of all stripes that governments have to spend whatever it takes to ease the pain for millions of Canadians suffering the
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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‘Modern Monetary Theory gives us the power to imagine a new politics and a new economy’
Balancing budgets, reducing deficits and eliminating debt: these priorities have preoccupied the minds of many Canadian politicians, economists and voters, but a different theory of macroeconomics is having a moment, as the world weathers a pandemic.
Modern Monetary Theory (MMT) proposes a shift in focus from a balanced budget to a balanced economy: one that offers full employment, a more equitable distribution of wealth and a social safety net for all who need one.
At the moment, there appears to be a rare consensus among economists, business leaders, and politicians of all stripes that governments have to spend whatever it takes to ease the pain for millions of Canadians suffering the aftershocks of the pandemic. That may be one of the reasons why MMT, which has been around for decades, is in the spotlight and challenging economic orthodoxy.