Covid-19 had caused drastic increases in government spending and government debt across the globe in an effort to stimulate aggregate demand the economies as a whole. Recently there is a growing interest in the new theory called the Modern Monetary Theory (MMT). The theory explains that rising budget deficits are good economies as long as increased government spending does not lead to inflation. Furthermore, this theory promotes rising government debt as means of supporting government spending. As noted by Stephanie Kelton in her book “The Deficit Myth”, governments can fund this spending and servicing of debt through printing money. As such, all the spending could, in principle, be financed via the creation of cash rather than taxes. Taxes may serve other purposes such as providing public services.
In relation to the above, use the multiplier model (or other models such as the IS-LM and AS-AD models) and critically analyse the effectiveness of MMT in South Africa. Furthermore, give your own policy recommendations of how the South African economy can grow post the COVID-19 pandemic.
With reference to the above, you are required to write an essay which answers the following questions:
a) Provide a brief review of the theoretical literature and empirical literature (where applicable) on MMT. (30%)
b) Explain the impact of MMT on the South African economy. (40%)
The Essence of a Love Poem The substance of affection verse is what is verse of adoration. Numerous individuals think love verse ought to be sweet and sentimental. This is the sonnet by Elizabeth Barrett Browning's sonnet "How would I love you?" However, William Shakespeare's "my's eyes are very not quite the same as the sun," and adopts an entirely unexpected strategy from average love sonnets. The two sections are clearly verse of affection, however the reaction to the perfect is differed. Searing said her adoration was enormous and great, however it was a piece too perfect to ever be down to earth. "Prize her initial quintessence, you won't begin to look all starry eyed at the lady bit by bit. If you don't mind unwind, however don't diminish her.Beauty, yet she doesn't characterize her Add an incentive to life, yet can not choose her satisfaction - she should give herself this blessing - it is correct, reminds her and as is normally done will share her ordinariness and dedication Do not remove it Listen to her words and remember her psyche Do not overlook the amount you love her. " Pith of affection verse What is love verse? Numerous individuals think love verse ought to be sweet and sentimental. This is the tone of Elizabeth Barrett Browning's sonnet "How I love you", however William Shakespeare's "My darling's eyes are totally not quite the same as the sun." Both refrains are clearly verse of adoration, yet the reaction to the perfect is differed. Carmelizing said her affection was grand and magnificent, yet that was kinda ... .... If it's not too much trouble compose a five - part article (presentation, 3 passages and end in the content), which examines the accompanying: the significance of the historical backdrop of bondage and understanding this sonnet. Your answer ought to remember a conversation for the picture and reiteration Marley uses to communicate it. This sonnet says: "Free your otherworldly subjection. The name will live with me and it will be the focal point of my adoration. Marlow utilizes the words to pass on the importance of the sonnet and how much verse he can not overlook. This sonnet "Working with me and turning into my affection" is a verse of adoration composed by Christopher Marlow and I am persuaded that he will go through his adoration with him. This is a writer brimming with sentiment and excitement, shaping a characteristic picture passing on the feeling and importance of the artist. - Compare two significant Baroque writers: Claudio Monteverdi and Domenico Scarlatti Work to comprehend the difference in music in the Baroque time frame>GET ANSWER