#MMT #Thread on floating #FX
Flexible exchange rate policy is something a country grows into as it builds higher degrees of #resilience to external shocks via food/energy #sovereignty, high value-added industries & other institutional measures to fight #speculation #corruption..
Flexible exchange rate policy is something a country grows into as it builds higher degrees of #resilience to external shocks via food/energy #sovereignty, high value-added industries & other institutional measures to fight #speculation #corruption..
and price gouging... So a higher degree of monetary sovereignty is something a country earns via strategic investments/regulations; it's not something you announce, float the currency, and hope for a miracle. All MMTers understand this.
I know this because I had this specific conversation with each one of the leading figures in the field. The fact that they don't emphasize this particular point in every argument they present is a matter of nuance/communication...
& reflects the fact that the conversation is often abt Global North countries with high degrees of monetary sovereignty. If we pay attention to the growing number of #MMT scholars in the Global South; it is very clear that this is a focal point for us rather than an afterthought.
A very incomplete list of Global South MMT voices @nssylla @MahaBenGadha @mabmbarek @andresintheory @AlexValchyshen @radicalecology @IndiaMmt @mmt_SouthAfrica @Tlacuachito @PatriciaNPino @RuchiraSen67 @Adjie1_ @Iffd_Brasil @stopthelunacy @redgenkosi @MMT_Africa @GISP_Tweets
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