Modern Monetary Theory: Shifting Perspectives on Money and Spending

Modern Monetary Theory (MMT) challenges traditional views on money and spending by highlighting that countries with their own currencies can't run out of money due to their debt being in their own currency. The theory emphasizes the role of central banks in creating money through keystrokes and focuses on real resources rather than imaginary funding sources, leading to implications beyond traditional economic approaches. MMT's descriptive nature stands distinct from political affiliations, offering insights adaptable across various ideological spectrums like Marxism and social democracy.