Unlike other jurisdictions Canada has a sovereign currency and a central bank that is explicitly allowed to buy both federal and provincial debt. It is all right here in Article 18 of the Bank of Canada Act.Read the rest at Relentlessly Progressive Political Economy
Is Canada is the ultimate MMT playground?
By Travis Fast
(h/t Clonal in the comments)
Canadian health care was originaly directly funded by the central bank. If you could just get rid of all the neo-liberal economists Canada probably would be the MMT version of what reality should look like.
ReplyDeleteSo, doesn't that mean that Canada can't become the MMT playground until the Conservatives are beaten at the polls?
ReplyDelete