Modern Monetary Theory

Steven Hail ()
Additional contact information
Steven Hail: University of Adelaide

Chapter Chapter 5 in Economics for Sustainable Prosperity, 2018, pp 141-182 from Palgrave Macmillan

Abstract: Abstract This chapter begins with an explanation of the three core statements, or axioms, at the heart of modern monetary theory: (1) monetary sovereign governments face no purely financial budget constraints; (2) all economies, and all governments, face real and ecological limits relating to what can be produced and consumed; and (3) the government’s financial deficit is everybody else’s financial surplus. This leads on to a discussion of the macroeconomic policies suggested by modern monetary theory, and potential institutional reforms to clarify the fiscal space available to monetary sovereign government.

Date: 2018
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:bifchp:978-3-319-90981-3_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9783319909813

DOI: 10.1007/978-3-319-90981-3_5

Access Statistics for this chapter

More chapters in Binzagr Institute for Sustainable Prosperity from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().