Archive for April 4th, 2019

Where is the money for NYAY? Look at MMT…

April 4, 2019

Prof Sashi Sivaramakrishna in his new piece looks at the recently announced NYAY scheme.

He says we usually look at financing constraints but the real constraint is the governance. Prof Sashi in his recent book suggests a growth and development path for India drawing insights from Modern Monetary Theory. The book is provocatively titled as Maximum Government Maximum Governance.

He applies similar insights here to the Nyay Scheme saying that a sovereign country which prints its own currency should not worry much about finance. The real deal is governance.

Much more in the piece…

A tale of two scary curves: Flattening Philips and Inverting Yield Curve

April 4, 2019

My new article in Moneycontrol.

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