Modern Monetary Theory (MMT): How Fiat Money Works
By Chris Mayer
PostedOctober 29, 2014
From time to time, the curious economist in you may wonder, “How does a fiat currency system actually function?” and, further, “Why don’t more countries default on their debt?” Well, it turns out there as a nifty little theory that explains exactly why these things happen. And the answers may surprise you. Chris Mayer explains…