Modern Money Theory and Distributive Justice

Journal of Economic Issues 51 (4):1001-1018 (2017)
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Abstract

Modern money theory is a conjecture concerning fiscal spending and the nature of money. I show that modern money theory provides two interesting insights into distributive justice that have not been addressed in the recent Anglo-American distributive justice literature: (i) that the nature of a sovereign fiat currency allows for some distributive conflicts to be avoided; and (ii) that recent Anglo- American distributive justice theories assume that the economy is at capacity. Based on this, I consider if the policy results of modern money theory can help foster a sense of justice.

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What is equality? Part 2: Equality of resources.Ronald Dworkin - 1981 - Philosophy and Public Affairs 10 (4):283 - 345.
Functional finance and the federal debt.Abba P. Lerner - 1943 - Social Research: An International Quarterly 10 (1):38-51.

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