William F. Mitchell
More books by William F. Mitchell…
“For less developed countries, a currency-issuing government faces different issues to that of an advanced nation, especially where essentials like food and energy must be imported. In the case of less developed countries, specific problems cannot be easily overcome by just increasing fiscal deficits.”
― Modern Monetary Theory: Key Insights, Leading Thinkers
― Modern Monetary Theory: Key Insights, Leading Thinkers
“Wage changes occur at infrequent intervals and condition the behaviour of the parties concerned for the ensuing economic period (sometimes months, usually years).”
― Macroeconomics
― Macroeconomics
“An MMT understanding allows us to appreciate that there would be no financial impediment for a government building national industries, funding research and development, providing first-class universities and apprenticeship training and the rest. If a nation with its own currency slides into oblivion by closing its manufacturing sector, cutting career public sector jobs and relying on low-paid and precarious service sector jobs for employment creation, then that has little to do with running external deficits, and everything to do with political choices.”
― Modern Monetary Theory: Key Insights, Leading Thinkers
― Modern Monetary Theory: Key Insights, Leading Thinkers
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