Policy Reports

Monetary Sovereignty for Public Purpose: Sustaining and Complementing China’s “New Infrastructure”

This paper elaborates Modern Monetary Theory to achieve three goals: 1) critique the myth of sound finance in mainstream economics; 2) provide theoretical justification for the fiscal sustainability of the Chinese “New Infrastructure,” a 40 trillion RMB mega investment project that was just announced by the Chinese state media; and 3) propose a Chinese Green Job Guarantee to complement the “New Infrastructure” to eliminate unemployment, promote sustainable development, upgrade industries, and stabilize the Chinese society.

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