In this episode of Everyday Economics, Puja Mehra speaks with Dr. Rathin Roy, macroeconomist and Director, NIPFP about the brief history of macroeconomics over the last 100 years and how monetary policy authorities around the world are looking to fiscal spending authorities to manage the macroeconomy.
The Economist Cover Story on the theme discussed in this episode can be read here.
In next week's episode, we continue our discussion with Dr Rathin Roy, where he shares his views about how macroeconomics needs to change going forward. Especially in India. And debunks Modern Monetary Theory (MMT), the believers of which advocate that currency-issuing countries can simply print money for spending by their respective fiscal authorities.