Quelle place pour la Théorie Monétaire Moderne dans l'Hétérodoxie économique?

MMT (for "Modern Money Theory") has become in a few years an almost unavoidable reference in economic policy debates. Also known as "neo-chartalism", MMT is a school of thought that gives a central place to the question of monetary sovereignty. The development of this theory is the result of a meeting between Warren Mosler, an American financier who made his fortune in a few decades thanks to securities transactions, and several academic economists of post-Keynesian origin - and more generally institutionalist - including Randall Wray, William Mitchell, Stephanie Kelton (formerly Bell), Matthew Forstater, Pavlina Tcherneva and James Galbraith.
The chapter is organized as follows. Following the introduction, the first section presents MMT from a theoretical perspective, first listing the principles we have identified in the literature and from which we derive a broader set of considerations. In the third section, we trace the genesis of MMT, including the importance of the encounter between Warren Mosler and post-Keynesian scholars, introducing a distinction between two narrative approaches that we call self-referential and academic, respectively. In the fourth section, we describe the evolution of MMT's communication and positioning vis-à-vis the post-Keynesian current as well as standard theory, particularly over the last decade. In the last section, we suggest that MMT can play an important role in the advancement of heterodox economic ideas, if one includes in the analysis a strategic and political dimension that the strictly academic debate of ideas sometimes tends to neglect.