A new paradigm of monetary theory and contemporary challenges

dc.contributor.authorChikobava, Malkhaz
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dc.description.abstractIn scientific publications on the problems of monetary relations, modern monetary theory is defined as a system of views that have been formed over the past twenty years by a group of American and Australian economists, mostly university professors. The main impetus for the development and popularization of modern monetary theory was the need to create a scientific concept for overcoming such problems of the American economy as the accumulation of huge public debt, chronic budget deficits and high unemployment. This theory offers a universal solution to these problems. This article shows how this theory is able to cope with the current global financial and economic crisis; The article also analyzes the strengths and weaknesses of modern monetary theory.en_US
dc.identifier.citationVII International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2022, pp. 506-518en_US
dc.publisherIvane Javakhishvili Tbilisi State University Pressen_US
dc.subjectmodern monetary theory, chartalism, Marxist theory of money, Keynesian theory, neoclassical theory, mainstream current, fiscal policy, monetary theory, monetary sovereignty of the state, public debt, inflation, guaranteed employmenten_US
dc.titleA new paradigm of monetary theory and contemporary challengesen_US
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