New Research Perspectives in the Monetary Theory of Production: an Introduction

The Monetary Theory of Production (MTP) is the landing place of a composite set of research fields of monetary macroeconomics. It was mainly pursued by French and Italian authors in the mid-1970s, and it reached a more “developed” stage during the subsequent decades. Nowadays, the MTP presents a noteworthy degree of resemblance to the current Post Keynesian economics and other “radical” approaches. The purpose of this work is to introduce the reader to the recent developments in the Italian heterodox literature, showing that the MTP is still a vital approach among the new generations of non-mainstream economists.