Modern Monetary Theory

Randall Wray discusses Inflation, the first principles and the criticisms of Modern Monetary Theory.

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  1. MMT explains how modern money systems operate in the real world. MMT is the best theory to understand macroeconomics for the 21st century.

  2. I’ve got an impression that the grants to the developing countries in dollars, pounds and euros (that somehow tend to return to the granters) are being gradually replaced by grants in yuans. As the MMT is a descriptive theory, I’d like to see a description of this process and the assessment of the BRICS currency debates.

    After having seen some implementations of green policies it looks like these are, at least partially, based on uninformed decision making: what are the real constraints? As L. Randall Wray said here, it’s important to not take away too many resources from other uses. But in Europe it has become quite common to install solar panels on fertile ground that takes land resources away from agriculture, for example.

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