Econintersect: This weekend only (Saturday and Sunday, 3-4 November 2012) Warren Mosler has made arrangements for his book "Soft Currency Economics II" (Kindle Edition) on Modern Monetary Theory to be downloaded for free from Amazon.com. Just click on the image of the book to go to the Amazon page.
This book explains why and how the Federal Reserve and the banking system really operate. It is not the traditional college textbook explanation which still considers currency to be tied to a gold standard.
Two of the endorsements for the book:
- "Warren Mosler is one of the most original and clear-eyed participants in today's debates over economic policy." JAMES GALBRAITH, FORMER EXECUTIVE DIRECTOR, JOINT ECONOMIC COMMITTEE AND PROFESSOR, THE UNIVERSITY OF TEXAS - AUSTIN
- "In this model of clarity, Warren Mosler debunks (in his own words) so many of the 'innocent frauds' that have contributed to our current economic and social malaise. More importantly, Mosler is no Ivory Tower academic. He has been a highly successful money manager, and his characterization of our modern monetary system is spot on: Mosler far more accurately depicts market realities than any of the self-styled "mainstream" economics textbooks, which dominate in the halls of academe, and in the corridors of power in Washington, Brussels, and Asia. This book should not only become mandatory reading for students of economics, but any policy maker who truly wants to deal with the grave disasters engendered from years of "reading from the wrong playbook." Marshall Auerback, Director Institute for New Economic Thinking, Pinetree Capital portfolio strategist, Fellow for the Economists for Peace and Security, Research Associate, Levy Institute.
Galbraith and Auerback have both contributed to Global Economic Intersection blogs, as has Warren Mosler.