Governments the world over are spending like crazy to try and steer their economies through the COVID-19 crisis. Whether it’s the fiscal policies of the government or the monetary policies of the central bank, it all still revolves around using money that wasn’t around a few months ago. So how much of what is happening is described by Modern Monetary Theory – and how much more could be done if we accepted that MMT is the way things should really work. And do central banks, or treasurers really understand it? Phil Dobbie asks Prof Steve Keen whether MMT can solve the COVID-19 debt problem?
This may be focussed on Britain, but the principle is the same everywhere.
January 8, 2020 Mathew D. Rose Austerity, Deregulation, Economics, Finance, Globalisation, Neo-Liberalism in the EU 0
We are continuing with Part 3 of this brilliant series. See Part 1 here and Part 2 here