What's wrong with modern money theory? : a policy critique / Gerald A. Epstein.

Format:

Book

Author/Creator:

Epstein, Gerald, 1951- author.

Series:

Palgrave pivot

Language:

English

Subjects (All):

Monetary policy.

Fiscal policy.

Macroeconomics.

Physical Description:

xi, 100 pages ; 22 cm.

Place of Publication:

Cham, Switzerland : Palgrave Macmillan, [2019]

Summary:

This Palgrave Pivot assesses the validity of Modern Money Theory's approach to macroeconomic policy, specifically monetary and fiscal policy. Whereas other papers have focused primarily on theoretical and doctrinal issues, this book focuses primarily on an analysis of MMT's policy approach. Though drawing on academic literature, this book's approach is empirical and policy-based, making it accessible to scholars and the public alike. It addresses a burning question in the policy and politics of the US and elsewhere where MMT is gaining a policy foothold, especially among progressive activists and politicians: Is MMT, in fact, a good guide for progressive macroeconomic policy? The main focus of this book is to explain why the answer to this question is no. -- from Palgrave Pivot

Contents:

Introduction: Strange bedfellows and the rise of the modern money theory

MMT basics and the sustainability of money financed deficits

Institutional specificity and the limited policy relevance of modern money theory

The role of the dollar as an international currency and its limits in a multi-key currency world

"America first" monetary policy and its costs

The mystery of the missing Minksy: financial instability as a constraint on MMT macroeconomic policy

An MMT free lunch mirage can lead to perverse outcomes: fight your friends, spare your enemies

Conclusion: contours of a progressive macroeconomic policy

Index.

Notes:

Includes bibliographical references and index.

Other Format:

Ebook version :

ISBN:

9783030265038

303026503X

OCLC:

1117339434