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2024 | OriginalPaper | Buchkapitel

6. Economic Policies Based on MMT

verfasst von : Dirk Ehnts

Erschienen in: Modern Money Theory

Verlag: Springer Nature Switzerland

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Abstract

Modern Money Theory (MMT) is a theory of how money is created and how it circulates, in the form of cash, reserves, and bank deposits. It is not a theory of economic policy, but economic policies informed by MMT insights do exist. Questions that can be answered include how we can ensure full employment and price stability, what a Job Guarantee should look like in practice, what industrial policy and a Green New Deal can achieve, how to fight inequality and bring about climate justice, and what an economic bill of rights for the twenty-first century might look like.

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Vorheriges Kapitel What is Economic Policy?

Nächstes Kapitel Outlook

The effect is far from clear. Imposing tax liabilities on people might make them offer more work, as they try to stabilize their net income because they have bills to pay.

Firms adjust prices only very rarely, just as prices on the menu of a restaurant though prices of ingredients will vary daily.

Obviously, one would have to assure that when consumption increases in the future, there must be a supply of goods and services available to be purchased at stable prices.

In the meantime, the German government has created a public transport ticket valid for one month in all of Germany at the price of 9 euros.

See Tcherneva (2020), Forstater and Murray (2013), and Ehnts and Höfgen (2019).

https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/19/fact-sheet-the-inflation-reduction-act-supports-workers-and-families/.

Currently, some (super)chargers are only available to customers from one car producer, which is an inefficient arrangement. Also, private companies running chargers might overcharge clients, which oftentimes have no option of not charging when their battery is very low.

https://www.who.int/health-topics/cardiovascular-diseases#tab=tab_1.

A (private) bank of that name existed until 2005.

https://www.theguardian.com/sustainable-business/2017/jul/10/100-fossil-fuel-companies-investors-responsible-71-global-emissions-cdp-study-climate-change.

https://www.commondreams.org/views/2022/04/25/time-has-come-progressives-rescue-and-renew-american-democracy.

https://www.cdc.gov/nchs/pressroom/nchs_press_releases/2022/20220831.htm.

https://plato.stanford.edu/entries/capability-approach/.

https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/table/.

Titel: Economic Policies Based on MMT
verfasst von: Dirk Ehnts
Verlag: Springer Nature Switzerland
Buch: Modern Money Theory
Print ISBN: 978-3-031-53536-9

Electronic ISBN: 978-3-031-53537-6

Copyright-Jahr: 2024
DOI: https://doi.org/10.1007/978-3-031-53537-6_6