The Other Economics They Don’t Want Us to Know

Modern Monetary Theory (MoM) is a relatively recent economic approach, yet it enjoys widespread popularity in academic and political circles and is sure to gain even greater importance in the future due to its pioneering and controversial nature. Many economists even believe it will become the new economic paradigm for the next generation.

This book, which some have caricatured and others have exaggerated, aims to explain its proposals precisely, but also with remarkable clarity and simplicity, enabling us to discard many of the myths that traditional economic theory has long instilled in us: “Austerity is necessary to balance the public accounts,” “The state must collect taxes to cover its expenses,” “An aging population jeopardizes our public pensions,” and so on.

The left always faces the same question: Where do we get the money to fund the policies we need? It invariably ends up embroiled in debates about raising taxes on the wealthy or combating tax evasion—debates that often reach a dead end in a globalized world. In contrast, modern monetary theory offers a robust and reliable answer, enabling us to plan and defend transformative policies without hesitation or doubt.