The Wealth Equation: Exports, Imports, and Modern Monetary Theory

This chapter explores the complexities of real wealth in economic terms, focusing on the dynamics of import and export and their impact on a nation's prosperity. It delves into Modern Monetary Theory (MMT) and its implications for public debt, currency independence, and job creation, particularly in the context of Scotland's potential independence. By challenging conventional views on trade deficits and economic policies, the chapter advocates for a rethinking of wealth distribution and the utilization of resources to enhance domestic output and employment.