Rather than focus on fiscal deficit, it wants governments to spend more to ensure full employment and universal basic income
Starting as an obscure economic idea a few decades back, the modern monetary theory (MMT) has achieved rock-star popularity in the developed world — more so since US congresswoman Alexandria Ocasio-Cortez endorsed the theory.
Policymakers in the developing world have hitherto escaped getting drawn into the MMT debate as the theory is considered to have applicability only for the developed world. This is changing and MMT will soon knock at the doors of policymakers in the developing countries including […]
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