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Tag Archives: modern monetary theory
Exchange Rate Policy and Full Employment
by Warren Mosler, Mosler Economics Editor’s note: This is the manuscript for a presentation made on either 03 December 1997 or 03 December 1999 (see discussion in comments) at a conference hosted by Prof. William Mitchell, University of Newcastle, New … Continue reading
The Great Debate©: Who Saw it Coming? (Part 2)
by L. Randall Wray, New Economic Perspectives Editor’s note: This is a continuation of the discussion posted earlier, The Great Debate©: Who Saw It Coming? A focal point of that discussion was Hyman Minsky who formulated theories about instability in … Continue reading
Posted in Great Debate©, macroeconomics, money
Tagged Bezemer, DeLong, Keen, L. Randall Wray, Minsky, mmt, modern monetary theory, money and banking, sovereign currency
1 Comment
Federal Reserve: Can We Run Out of Money?
Guest Author: Stephanie Kelton Federal Reserve Chairman Ben Bernanke gave his fourth lecture at George Washington University yesterday. Buried in the lecture, beginning at about 19:18 in the video (shown below), Bernanke explained where the Fed got the money to … Continue reading
Posted in Federal Reserve
Tagged debt, dollar, Federal Reserve, government spending, mmt, modern monetary theory, monetary system, saving, Stephanie Kelton
5 Comments
Abba Lerner: Functional Finance
Written by John Lounsbury Abba Lerner (1903-1982) was not considered a dominant figure in American economics for much of his career although he collaborated and exchanged ideas with many more famous economists of his time. He studied under Friedrich Hayek … Continue reading
Posted in macroeconomics, money
Tagged Abba Lerner, functional finance, Hayek, John Lounsbury, keynes, Milton Friedman, mmt, modern monetary theory
1 Comment
The Great Debate©: The Job Guarantee Brouhaha
by Hugo Heden and John Lounsbury John Carney, a senior editor at CNBC.com, has been writing a series of articles about the job guarantee (JG) aspect of what is known as Modern Monetary Theory(MMT). The JG is also known as … Continue reading
U.S. Facing Insolvency by Ignorant Choice
by Derryl Hermanutz In his book, “The 7 Deadly Innocent Frauds of Economic Policy”, modern money theory (MMT) advocate Warren Mosler distinguishes between three very different kinds of money systems, “Historically, there have been three categories of money: commodity, credit, … Continue reading
Posted in money
Tagged debt, Derryl Hermanutz, government debt, insolvency, mmt, modern monetary theory, money, U.S. government debt
10 Comments
Why Financing is not Saving: Fable of the Breads
by Dirk Ehnts I must admit that it took me some time to understand this: financing is not saving. You may finance all sorts of things, and savings are not a necessary part of this story. The reason why this … Continue reading
Posted in macroeconomics, money
Tagged Dirk Ehnts, Fable of the Bees, fiat, keynes, Mandeville, mmt, modern monetary theory
1 Comment
