MMT (Modern Monetary Theory) argues that since governments can issue their own currency,

 MMT (Modern Monetary Theory) argues that since governments can issue their own currency, they should not be constrained by fiscal deficits or the goal of achieving a primary balance (PB) surplus. What truly matters are inflation and employment levels. PB surpluses, especially during recessions, may worsen the economy. Therefore, MMT holds that PB surplus should not be a policy objective.


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