The COVID-19 pandemic and the contributions of modern monetary theory

Arturo Hermann

International Journal of Pluralism and Economics Education, 2021, vol. 12, issue 1, 60-66

Abstract: The present situation linked to the COVID-19 pandemic has fostered a general rethinking of how economic theories can inform an effective policy response. In such a context, perhaps no theory has been brought more to the test than modern monetary theory (MMT). As a matter of fact, MMT, by positing that governments can always create their currencies, seems particular apt for dealing with COVID-19. We will briefly address MMT, and focus on how MMT insights can be employed not only for today's emergency but also for building a new sustainable economy. Some conclusions about economics education will follow.

Keywords: modern monetary theory; MMT; supranational policies; the Keynesian 'euthanasia of rentier'; social valuing; interdisciplinarity. (search for similar items in EconPapers)
Date: 2021
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