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(Redirected from Modern money theory)
Modern monetary theory (MMT) is a Keynesian economic theory that claims that, "a sovereign government cannot run out of its own currency."[1]
Origin
MMT is based on the Chartalist theory created by Georg Friedrich Knapp in 1905. Knapp argued that the state created money in order to collect debts and taxes, and not as a means of exchange. Keynes later endorsed this theory.[1]
References
- ↑ 1.0 1.1 Michael Roberts (2024-10-08). "The Modern Monetary Trick" Red Sails. Archived from the original on 2024-10-09.