Analyst Pin-board: Modern Monetary Theory
We touched on MMT in our latest and wanted to share some more information on the topic.
Modern Monetary Theory (MMT) states that governments can 1) create their own money, a privilege now reserved for central banks and 2) should not necessarily be funded by tax revenues and debt issuances alone as prescribed by mainstream economics. This would allow governments to spend money directly on things that are important without relying on intermediaries such as banks that may allocate it towards “less important things”. Finally, money creation would be limited by inflation, at which point policy makers would raise taxes and issue bonds to remove excess liquidity.
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