Japan’s Aso: No plan to test modern monetary theory in Japan

Japan’s Finance Minister Aso is out on the wires stating that his government has no plan to test the modern monetary theory. 

The modern monetary theory, a heterodox macroeconomic theory, states the countries that issue their own currencies can never “run out of money the way people or businesses can.

Aso also stated that both the Japanese government and the Bank of Japan made a mistake combating deflation in the Heisei period. 



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