IDEAS home Printed from https://ideas.repec.org/a/aza/crej00/y2021v10i4p290-295.html
   My bibliography  Save this article

Modern monetary theory: Why real estate is fundamental to economic growth

Author

Listed:
  • Phipps, Andrew

    (Global Futurist, Cushman & Wakefield, UK)

Abstract

Individuals and businesses across the world continue to look to government for economic support through the turmoil created by the COVID-19 pandemic. Without the flow of money into the economy we would be in a far worse state than we are now. The only reason that this is possible has been because governments and central banks have been able, in many major economies, to print increasing amounts of money. They have recognised that the way government debt and corporate debt or individual debt operate are quite different. In essence, there is no such thing as government debt (in a country that controls its own supply of currency). Governments do not collect taxes in order to spend, they collect taxes to replenish the coffers once they have spent. This forward-looking approach is called modern monetary theory and the time to embrace this is now.

Suggested Citation

  • Phipps, Andrew, 2021. "Modern monetary theory: Why real estate is fundamental to economic growth," Corporate Real Estate Journal, Henry Stewart Publications, vol. 10(4), pages 290-295, June.
    • Handle: RePEc:aza:crej00:y:2021:v:10:i:4:p:290-295
    as

    Download full text from publisher

    File URL: https://hstalks.com/article/6408/download/
    Download Restriction: Requires a paid subscription for full access.
    File URL: https://hstalks.com/article/6408/
    Download Restriction: Requires a paid subscription for full access.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    economy; government; debt; real estate; future; modern monetary theory; economists;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aza:crej00:y:2021:v:10:i:4:p:290-295. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Henry Stewart Talks (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.