This book, written by an international team of economists, develops concrete, country specific alternatives to inflation targeting, the dominant policy framework of central bank policy that focuses on keeping inflation in the low single digits to the virtual exclusion of other key goals such as...

Introduction: Strange bedfellows and the rise of the modern money theory -- MMT basics and the sustainability of money financed deficits -- Institutional specificity and the limited policy relevance of modern money theory -- The role of the dollar as an international currency and its limits in a...