MMT

Share this article

Facebook
Twitter
LinkedIn

Modern Monetary Theory (MMT) is a heterodox macroeconomic lens that recontextualizes the role of monetary and fiscal policy in sovereign governments that borrow and issue national debt in their own monetary instrument. It MMT thus describes the practical uses of fiat currency in a public monopoly on money by a government with currency-sovereignty. MMT has gained increasing “currency” in recent years as progressive political parties discuss the “costs” involved in ambitious projects to develop their societies; but has gained an even larger audience since the spread of the Covid19 pandemic, with massive liquidity being pumped into monetary systems of the First World to grapple with the global health crisis. MMT’s interesting outlook on inflation, interest rates, government spending, deficits, and debt require the careful attention of a wider public. As such, this working paper offers a simple and general introduction to MMT.

Available at SSRNhttps://ssrn.com/abstract=3569416 or http://dx.doi.org/10.2139/ssrn.3569416

Suggested Citation:Chohan, Usman W., Modern Monetary Theory (MMT): A General Introduction (April 6, 2020). CASS Working Papers on Economics & National Affairs, Working Paper ID: EC017UC (2020).

Recent Publications

Browse through the list of recent publications.

Development and Democracy: Part and Parcel of One Another

Whether democracy is a precondition for development is a debate that continues to stimulate scholarly reflection till the present day. While this intellectual reflection is praiseworthy, the discussion could have been settled long ago when Amartya Sen redefined the concept of ‘development’ as ‘freedom’– a notion that strongly resonates with the human spirit.
  118 views

Read More »

Evaluating the Potential of Carbon Capture and Storage Technology in Pakistan

Technology and innovation are emerging dimensions of climate discourse in contemporary times. Climate technologies  are rapidly becoming instrumental in reducing greenhouse gas (GHG) emissions and adapting to the detrimental impacts of climate change. Carbon Capture and Storage (CCS) technology has the potential to expedite endeavours towards climate change mitigation in environmentally vulnerable countries.
  937 views

Read More »

Operation Swift Retort: Five Years On

The nature of Indo-Pak relations has been turbulent right from the onset. Numerous events have influenced the trajectory of this bilateral relationship over time. In this regard, February 2019 stands out as both countries were on the verge of military escalation and nearly went to war, was it not for the foresight and restraint of Pakistan’s leadership.
  290 views

Read More »

Stay Connected

Follow and Subscribe

Join Our Newsletter
And get notified everytime we publish new content.

© 2022 CASSTT ALL RIGHTS RESERVED

Developed By Team CASSTT

Contact CASS

CASS (Centre for Aerospace & Security Studies), Old Airport Road, Islamabad
+92 51 5405011
cass.thinkers@casstt.com
career@casstt.com

All views and opinions expressed or implied are those of the authors/speakers/internal and external scholars and should not be construed as carrying the official sanction of CASS.