An Introduction to Modern Money Theory (MMT)

In this lecture I propose to present some of the most fundamental tenets of Modern Money Theory (MMT) as a starting point to (re)articulate contemporary macroeconomic issues that have come to dominate the media post-2008 and the 2020 pandemic crises. Unfortunately, orthodox macroeconomic analysis completely circumvents the notion of modern money and modern monetary institutions. Students therefore find (macro)economics too ‘abstract’, its assumptions unreal, and its analysis disjointed from the real world. I will also highlight some of the erroneous conclusions attributed to MMT, which therefore, at the same time, also calls for MMT to become all the more categorical about such (mis)interpretations, especially in the context of emerging market economies and other developing countries.

Above the Speaker:
Sashi Sivramkrishna completed his Master’s degree from the University of Mumbai and Ph.D. in Economics from Cornell University (USA). His research interests encompass a wide range of subjects from environmental, economic and monetary history to contemporary macroeconomic issues. He has published widely in academic journals and is the author of three books. He is an avid documentary filmmaker and also pursues his passion of retracing Francis Buchanan’s Journey of 1800-01 across southern India. Sashi Sivramkrishna is presently Sr. Adjunct Professor (Economics) at NMIMS, Bangalore, and Vice-Chairman at the Foundation to Aid Industrial Recovery, New Delhi/Bangalore.