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Was ist Modern Monetary Theory?

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Veröffentlicht/Copyright: 17. Februar 2022

Zusammenfassung

Die Modern Monetary Theory (MMT) ist nicht zuletzt durch die hohen Defizite und Staatsschulden in der Folge der Corona-Pandemie populär geworden. In diesem Beitrag erklären wir die empirische Theorie, die vor allem die Funktionsweise des Geldsystems beschreibt. Die MMT macht deutlich, dass staatliche Ausgaben nicht „finanziert“ werden können, weder durch Steuern noch durch Staatsanleihen. Sämtliche Zahlungen erfolgen vielmehr durch das Kreditieren eines Kontos einer Bank bei der jeweiligen Zentralbank. Die Zentralbanken agieren als Hausbank des Staates – auch in der Eurozone. Politische Regeln können die Staatsausgaben zwar beschränken, doch ist der Staat als Schöpfer des Geldes maßgeblich für die Höhe der Beschäftigung verantwortlich und kann mit einer Jobgarantie Vollbeschäftigung erreichen.

JEL-Klassifikation: B52; E12; E5; E62

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Online erschienen: 2022-02-17
Erschienen im Druck: 2022-07-04

© 2022 Walter de Gruyter GmbH, Berlin/Boston

Heruntergeladen am 29.4.2026 von https://www.degruyterbrill.com/document/doi/10.1515/pwp-2021-0027/html?lang=de
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