DUMA GQUBULE: Let the rand work for the people
A country that prints its own currency, borrows only in its own currency and does not convert it into gold cannot run out of money
Five years ago, when my two sons were with their mothers, who worked for the UN Tribunal for Rwanda in Arusha and the AU in Addis Ababa, I decided to spend the December holidays reading about modern monetary theory (MMT), a new school of economic thought within the Keynesian tradition.
Spared of parenting duties and the dreaded school run, I read as much as I could. But I was none the wiser after a month, probably because most MMT economists are awful communicators. Over the next few years MMT began to make more sense as I read the work of great communicators such as Stephanie Kelton in the US and Frank Van Lerven in the UK. I am now a convert...
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