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Articles on modern monetary theory

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Since its creation in 1999, the inflation rate in the euro zone has only exceeded 4 percent for a few months, on the eve of the Great Recession of 2008. Shutterstock

Why the return of high inflation can no longer be excluded

Massive stimulus plans combined with rising production costs could lead to expectations that inflation will rise. And that alone could trigger an inflationary spiral not seen in 25 years.
Tatiana Bobkova/Shutterstock

(Economics) books to read over summer

From money creation to COVID to uncertainty to the end of rapid economic growth, Peter Martin's summer reading list is unsettling and uplifting.
Canadian bank notes are seen in this 2017 photo. Ottawa finances deficit spending by borrowing money. Twenty per cent of the money is borrowed from the Bank of Canada. In other words, the government borrows that money from itself. THE CANADIAN PRESS/Adrian Wyld

How government deficits fund private savings

Critics complain that government debt saddles future generations with a financial burden. The critics are wrong.
Newly-elected US Democrat Alexandria Ocasio-Cortez is co-author of the New Green Deal which proposes massively expanding the budget deficit as a way of supporting both the environment and the economy. Alba Vigaray/EPA

Vital Signs. Do deficits matter any more?

There are limits on how much governments can spend without earning, although increasingly politicians are behaving as if there are not.
Modern monetary theorists aren’t concerned with budget repair. Joel Carrett/AAP

Explainer: what is modern monetary theory?

Modern monetary theory is gaining traction in a global economic environment that defies the efforts of policymakers to restore growth.

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