Everyone knows governments need to tax before they can spend. What Modern Monetary Theory presupposes is, maybe they don’t.

The concept is not really as radical as you think, it actually describes how money works in countries with a fiat currency, like the United States, Australia, Japan, even the UK, but not in countries that use the Euro, like Greece, Italy or Spain, for example.

Source: The Radical Left-Wing Theory That the Government Has Unlimited Money – VICE

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