Modern Money Theory (MMT) in the Tropics: Functional Finance in Developing Countries

Matías Vernengo and Esteban Perez Caldentey

Challenge, 2020, vol. 63, issue 6, 332-348

Abstract: Modern Money Theory (MMT) has become very popular among some progressive economists. Its basic argument is that budget deficits are usually not a constraint on government spending, The authors, progressives themselves, argue that some aspects of MMT are useful, but others are incomplete or confusing. They focus on the application of MMT to developing countries.

Date: 2020
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DOI: 10.1080/05775132.2020.1747729

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