What does MMT have to Offer Developing Nations?
Last year, five Republican senators made a political move unprecedented in a formally democratic country like the United States: they introduced a resolution calling on the US Senate to condemn an economic theory the implementation of which would “pose a clear danger to the economy of the United States”. They were talking about Modern Monetary Theory, or MMT. But what was so outrageous about the incriminated economic theory that it deserved the rejection and anger of right-wing politicians in the first place?
MMT postulates many things that appear rather obvious when we think about them seriously, but are often hidden from the broader public.