> For the complete documentation index, see [llms.txt](https://glossary.ecsa.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://glossary.ecsa.io/modern-monetary-theory-mmt.md).

# Modern Monetary Theory (MMT)

Modern monetary theory thinks that governments which are the monopoly issuers of currency in which their debt is denominated, can print as much money as they need and have no need to tax or borrow to finance spending.