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That's democracy in action!
That's democracy in action!
When applying the MMT framework to a nation such as Sri Lanka with the power to spend its own currency the budget of the nation should not be considered the same as a household budget. There is no need for Sri Lanka to rely on the IMF or the World Bank or any other foreign sources to provide debts for the upkeep of Sri Lanka. Instead Sri Lanka can utilise its power to spend its own money through a well calculated method without having to worry about inflation and other ill-consequences of money-creation as we will explain.
Great read and a good introduction to how money works and how the understanding of it can truly help a nation like Sri Lanka.
