How to use this site.

For some of you this post may seem superfluous and that is fine. For those of you that have an interest in Modern Monetary Theory (MMT) and have zero background knowledge in economics I recommend starting at the link above that says Index.  As noted in the About link, it is mostly a deconstruction of Bill Mitchell’s work into what I believe to be more manageable pieces.  There are only two significant categories, LayPerson and Economics – the Economics category is the more advanced post.  You should have little trouble following the category Economics if you read the blog posts in sequence.  Admittedly, you may have to read some posts twice to understand them fully.

For the people that have had some economics training or some form of economics background, I recommend placing your mouse cursor over the Resources link above and selecting MMT for Economists from the drop down lists.  I give you fair warning though many of the propositions you hold to be true will be challenged along the way, the very foundation of your economic thinking may be challenged.

The FAQs or Frequently Asked Questions are still very much a work in progress and you are welcome to add your own.  Other things you might like to see are Audio Visuals listed on the Video tab and the drop-down section Fiscal Sustainability Teach-In.  Yes they are two distinct links.  The latter are individual videos whilst the former are playlists you might like to view and review.

The Resources and Other tab also provide links to written pieces on Modern Monetary Mechanics often called Modern Monetary Theory but it is only a theory in its recommendations or prescriptions, not the description of how modern money works today.  And of course there are a few links to check out under  Links in the right side-bar towards the bottom of the page.

Feel free to comment on making changes to the above so it can be more easily understood.

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5 responses to “How to use this site.

  1. Pardon my ignorance of the subject matter. I have not been trained as an economist but I have a very basic understanding of MMT.

    To explain the monetary system in Europe the collection of EU countries has often been described as similar to the collection of States within the U.S. States need to control their budget because they do not control the currency.

    If Europe is in trouble because, unlike the U.S., each country does not control it’s own currency, how does this defer from the operation of individual states in the U.S.
    Could a State default cause as much potential damage for the U.S. as a country default within the Eurozone?

    Example, California is in massive debt, if the state government of California could not meet obligations and defaulted on their debt, pensions, etc. could it cause contagion to surrounding states and impact as much economic damage for the U.S. as Greece would for the EU?
    How would it be similar or different?

  2. In the example you gave, the US Treasury via Congress is likely to bail out California up to a point. At the time that you wrote this, there was no equivalent measure proposed or possible in the Eurozone. Whilst not perfect the ECB is now currently providing some liquidity to the member-states that need it.

  3. Your way of explaining everything in this article is genuinely fastidious, every one can without difficulty know it, Thanks a lot.

  4. I would disagree. I don’t think the “Economics” category is more advanced. Additionally, the actual “Modern Money Mechanics” is available for free online ; although I did see it for purchase on Amazon, as well. Dumbing down this material is a mistake, imo.

    • As explained on the ABOUT page – We are in no way associated with the Modern Money Mechanics workbook released by Federal Reserve Bank of Chicago.

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