While MMT may be the de facto policy of rich Western governments, applying it to developing economies could be disastrous.
Today’s Long Reads Sunday is a reading of Andy Mukherjee’s piece: “Why Emerging Markets Are Wary of a Modern Monetary Fix”.
The argument is that while Western governments debate just how far we can take the idea of money printing without paying a dubious price, for emerging-market governments there simply isn’t the same capacity to print their way out of problems.
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