Modern Monetary Theory

Definition

Modern Monetary Theory or Modern Money Theory (MMT) is a heterodox macroeconomic theory concerning the role of fiscal and monetary policy in sovereign governments that borrow and issue government debt in their own currency.

Related concepts

2008 financial crisis AD–AS model A Treatise on Money Abba Lerner Abba P. Lerner Accelerator effect Adam Smith Adaptive expectations Advanced capitalism Age of Enlightenment Agent-based computational economics Aggregate demand Aggregate supply Aggregation problem Agricultural economics Alan Greenspan Alexander Hamilton Alexandria Ocasio-Cortez Alfred Marshall Alfred Mitchell-Innes Alvin Hansen Amartya Sen American Economic Review American School (economics)Anarcho-capitalism Ancient economic thought Anglo-Saxon capitalism Anti-capitalism Antoine Augustin Cournot Applied economics Argentina Arrow–Debreu model Arthur Cecil Pigou Arthur Laffer Arthur Melvin Okun Attention economy Austerity Austrian School Austrian school of economics Authoritarian capitalism Average cost Ayn Rand Balance of payments Bank of France Bank of Japan Barter Basil Moore (economist)Behavioral economics Behavioural economics Ben Bernanke Bernard de Mandeville Bernie Sanders Bilateral monopoly Bill Mitchell (economist)Broad money Buddhist economics Budget set Budget surplus Business Business cycle Business economics CNBC Calvin and Hobbes Cambridge Journal of Economics Capital (economics)Capital accumulation Capital control Capital market Capitalism Capitalism and Islam Capitalist mode of production (Marxist theory)Capitalist propaganda Capitalist realism Capitalist state Carl Menger Central bank Central bank independence Centre of Full Employment and Equity Chartalism Chicago school of economics Chile China Classical economics Classical liberalism Commercial Revolution Commercial policy Commodity money Community capitalism Company Competition (economics)Competition law Complementary monopoly Complexity economics Computational economics Congressional Budget Office Consumer capitalism Consumer choice Consumerism Contract theory Convexity in economics Corporate capitalism Corporation Cost-push inflation Cost–benefit analysis Crisis theory Criticism of capitalism Critique of political economy Critique of work Crony capitalism Cronyism Cross elasticity of demand Crowding out (economics)Cultural economics Culture of capitalism Currency Currency substitution David Ricardo Deadweight loss Decision theory Deficit spending Definitions of capitalism Deflation Demand Demand-pull inflation Demand for money Demand shock Democratic capitalism Demographic economics Demurrage currency Development economics Dirigisme Diseconomies of scale Disequilibrium macroeconomics Disinflation Distribution (economics)Duopoly Dynamic stochastic general equilibrium E. F. Schumacher Eco-capitalism Ecological economics Econometrics Economic boom Economic cost Economic democracy Economic equilibrium Economic geography Economic growth Economic history Economic interventionism Economic liberalism Economic liberalization Economic nationalism Economic planning Economic policy Economic rent Economic statistics Economic surplus Economics Economics of participation Economies of scale Economies of scope Economist Edmund Phelps Education economics Edward C. Prescott Edward Elgar Publishing Effective demand Elasticity (economics)Eli Heckscher Elinor Ostrom Employer of last resort Employment Endogenous growth theory Endogenous money Engineering economics Engineering economics (civil engineering)Entrepreneurship Environmental economics Eugen von Böhm-Bawerk Eurozone Evergreening Everything bubble Evolutionary economics Evsey Domar Excess supply Exchange-rate Exchange rate Expected utility hypothesis Experimental economics Exploitation of labour Externality Family economics Felix Fuders Feminist economics Feudalism Fiat money Fictitious capital Finance capitalism Financial assets Financial crisis Financial economics Financial market Financial speculation Finn E. Kydland Fiscal conservatism Fiscal deficit Fiscal discipline Fiscal expansion Fiscal policy Fiscal theory of the price level Fixed exchange-rate system Flexible exchange rate Floating exchange rate Foreign exchange controls Francis Ysidro Edgeworth Franco Modigliani Frank Knight Frank P. Ramsey François Quesnay Free market Free price system Free trade Freiwirtschaft Friedman's k-percent rule Friedrich Hayek Friedrich List Friedrich von Wieser Frédéric Bastiat Full Employment Abandoned Full employment Functional finance Game theory Gary Becker General equilibrium theory Georg Friedrich Knapp George Stigler Georgism Gladstonian liberalism Global South Global capitalism Globalization Glossary of economics Gold Standard Goods Goods and services Government Government bond Government debt Government expenditure Government spending Green economy Greg Mankiw Gregory Mankiw Gross domestic product Gross national income Growth imperative Gunnar Myrdal Hans-Hermann Hoppe Happiness economics Harrod–Domar model Haruhiko Kuroda Health economics Henry George Herbert A. Simon Hermann Heinrich Gossen Heterodox economics Historical school of economics History of capitalism History of capitalist theory History of economic thought History of macroeconomic thought Household income Humanistic capitalism Humanistic economics Hyman Minsky Hyperinflation IS-LM model IS–LM model Implicit cost Inclusive capitalism Income elasticity of demand Income–consumption curve Index of economics articles Indifference curve Industrial Revolution Industrial organization Inflation Inflation targeting Information economics Infrastructure and economics Initiative on Global Markets Institutional economics Interest rate International economics International reserve currency Intertemporal choice Investment Investment (macroeconomics)Investor Invisible hand Involuntary unemployment Irving Fisher J. S. Mill James M. Buchanan James Mill James Tobin Jan Tinbergen Japan Jason Hickel Jean-Baptiste Say Jeremy Bentham Joan Muysken Joan Robinson Job guarantee Johann Heinrich von Thünen John B. Taylor John Bates Clark John Hicks John Kenneth Galbraith John Maynard Keynes John Murray (publishing house)John Stuart Mill John von Neumann Joseph Schumpeter Joseph Stiglitz Karl Marx Karl Polanyi Kenneth Arrow Kenneth Rogoff Keynesian Keynesian cross Keynesian economics Knut Wicksell L. Randall Wray Labour economics Labour shortage Laissez-faire capitalism Lars Pålsson Syll Late capitalism Latin America Lausanne School Law and economics Law of demand Law of supply Lawrence Klein Lawrence Summers Legal tender Legislature Levy Economics Institute Liberal capitalism Liberalism Libertarian capitalism Liquidity preference Liquidity trap List of economics journals List of economists List of important publications in economics Ludwig von Mises Ludwig von Mises Institute Léon Walras Macmillan Publishers Macroeconomic model Macroeconomic theory Macroeconomics Mainstream economics Malthusianism Managerial economics Marc Lavoie Marginal cost Marginal utility Marginalism Market (economics)Market capitalism Market economy Market failure Market monetarism Market structure Martin Watts Marxian economics Matching theory (economics)Mathematical economics Mathematical optimization Matthew Forstater Max Weber Mechanism design Medium of exchange Mercantilism Merchant capitalism Metallism Michał Kalecki Microeconomics Microfoundations Milton Friedman Minimum wage Mixed capitalism Mixed economy Modern portfolio theory Monetarism Monetary circuit theory Monetary economics Monetary inflation Monetary policy Monetary sovereignty Monetary system Money Money creation Money multiplier Money supply Monopolistic competition Monopoly Monopsony Multiplier (economics)Mundell–Fleming model Murray Rothbard Mutualism (economic theory)NAIBER NAIRU National Bank of Belgium National accounts National capitalism National saving Natural resource economics Neo-Capitalism Neo-Keynesian economics Neo-Marxian economics Neo-chartalism Neoclassical economics Neoclassical synthesis Neoliberalism Net national income New Keynesian economics New classical macroeconomics New institutional economics New neoclassical synthesis Newspaper Nicholas Kaldor Nobel Memorial Prize in Economic Sciences Nominal rigidity Non-convexity (economics)Non-monetary economy Nordic capitalism Objectivism Oligopoly Oligopsony Olivier Blanchard Open market operation Open market operations Operations research Opportunity cost Ordoliberalism Organizational economics Oskar R. Lange Outline of economics Output (economics)Output gap Overlapping generations model Overshooting model Pareto efficiency Paul Krugman Paul Samuelson Pavlina R. Tcherneva Pavlina Tcherneva Perfect competition Periodizations of capitalism Personnel economics Perspectives on capitalism Peru Peter Diamond Phillips curve Physiocracy Piero Sraffa Pluralism in economics Podcast Political Economy Research Institute Political capitalism Political economy Polity (publisher)Population ageing Post-Keynesian Post-Keynesian economics Post-capitalism Preference (economics)Price Price ceiling Price controls Price discrimination Price elasticity of demand Price elasticity of supply Price floor Price level Price signal Price stability Price system Price theory Pricing Primitive accumulation of capital Private-sector Private consumption Private property Privatism Privatization Procyclical and countercyclical variables Production set Productivity growth Profit (economics)Progressive capitalism Protectionism Public bonds Public choice Public debt Public economics Public expenditure Public finance Public good Public monopoly Public sector Quantitative easing Quantity theory of money Ragnar Frisch Ramsey–Cass–Koopmans model Randall Wray Rational expectations Rationing Raw capitalism Real business-cycle theory Real interest rate Recession Regional economics Regulated market Regulatory capitalism Regulatory economics Rent seeking Rentier capitalism Returns to scale Rhine capitalism Richard Cantillon Richard Stone Richard Thaler Right-libertarianism Risk aversion Robert Barro Robert Lucas Jr Robert Lucas Jr.Robert Mundell Robert P. Murphy Robert Shiller Robert Solow Ronald Coase Roy Harrod Rural economics Saltwater and freshwater economics Saving identity Scarcity Schools of economic thought Scott Fullwiler Sebastián Edwards Sectoral balances Service (economics)Service economy Shinzo Abe Shortage Shrinkflation Silvio Gesell Simon Kuznets Simple commodity production Skill (labor)Social choice Social choice theory Social cost Social market economy Social media Social welfare Socialist economics Solow–Swan model Sovereign default Speculation Spontaneous order Stagflation Standard of deferred payment State-sponsored capitalism State capitalism State monopoly capitalism Stephanie Kelton Steve Hanke Stimulus (economics)Stockholm School (economics)Stockholm school (economics)Structuralist economics Substitution effect Sudden stop (economics)Sunk cost Supply-side economics Supply (economics)Supply and demand Supply shock Surplus value Sustainable development goals System of National Accounts Tariff Tax Tax policy Taxation Taylor rule Technocapitalism The New York Times Theory of the firm Thermoeconomics Third Way Thomas J. Sargent Thomas Palley Thomas Piketty Thomas Robert Malthus Thomas Sowell Thorstein Veblen Tjalling Koopmans Trade Transaction cost Transport economics Uncertainty Unemployment Unemployment benefits United Nations United States University of Bergamo University of Chicago Booth School of Business University of Missouri–Kansas City University of Newcastle (Australia)Urban economics Use value Utility Value (economics)Venezuela Venture philanthropy Vilfredo Pareto Visible hand (economics)Wage Wage floor Wage labour Wage slavery Wall Street Journal Walter Block Warren Mosler Wassily Leontief Welfare capitalism Welfare economics Welfare spending Wesley Clair Mitchell Wilhelm Röpke William Baumol William Mitchell William Nordhaus William Petty William Stanley Jevons Wynne Godley Zombie firm

8 concepts already in your glossary