Editor’s Note G’day Folks. If you are new to economics I recommend you follow along on the links provided in the Index. This is a short piece designed for those of you that have all ready had some economics training. The best way to work your way through this paper is to work your way from left to right down the list following the links. There is a brief summary under each one. Special thanks to Dr. Peter Cooper. Enjoy! |
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MMT and the Crisis | Fiat Money and its Social Significance | |
The global economic crisis, and government policy responses to it, have sparked controversy and debate. | When money takes the form of a valuable commodity (e.g. gold) | |
Budget Deficits and Net Private Saving | Thinking in a Macro Way | Taxation, Money, Freedom and Economy |
Some critics of fiscal stimulus claim that by running large budget deficits, | To understand aggregate behavior, it is necessary to start at the aggregate… | MMT implies some interesting connections between money, taxes, social cooperation, freedom… |
Parable of a Monetary Economy | Unemployment is a Macro Problem | Value of the Currency |
Although the parable makes use of a highly simplified model, the basic insights… | A common misconception is that if everybody was prepared to take awful enough jobs, unemployment would be eradicated… | Demand for currency is underpinned by taxation. By imposing a tax obligation on the non-government sector that can be met only through payment… |
Full Employment and the Environment | Interest, Money and Crisis | What is ‘productive’? |
Criticism of MMT tends to come from two different directions. On the one hand, there are those who deny that governments in modern monetary systems have the fiscal capacity to maintain full employment and price stability. | Throughout the history of economic thought, opposing perspectives on interest and money have created fundamental divides between the various schools. In the one camp, interest is regarded as having a real determination, with monetary policy ultimately at the mercy of the markets. In the other camp… | In a commodity-backed money system, a common currency union, or a fiat-money system with a fixed or pegged exchange rate, external undemocratic constraints are imposed on governments which limit their freedom to use fiscal policy for public purpose. |
May 2024 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 The MMT Podcast with Patricia Pino & Christian Reilly
- #186 Phil Armstrong: MMT & Austrian Economics (part 1)
- #185 Dirk Ehnts: The public debt is what we own, not what we owe
- #184 Steven Hail: What if people aren’t utility-maximising omniscient supercomputers?
- #183 Mark Diesendorf: The Path To An Ecologically Just Civilisation
- #182 Warren Mosler & Cory Doctorow In Conversation
- #181 Erik Dean: What’s Standing Between Us And A 15-Hour Work Week?
- #180 John T. Harvey: MMT, The UK, and Pound Sterling
- #178 Building An Economy For The People - Unpacking The Deficit Myth Part 7
- #177 L. Randall Wray: Money For Beginners - A Politician’s Guide
- #176 Dirk Ehnts: Ending The Polycrisis
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Money on the Left
- Aesthetics after Autonomy with Grant Kester
- Economic Democracy with Pavlina Tcherneva
- The Alternative with Nick Romeo
- How can novels help us think about money ... and maybe even save the planet? (Guest Lecture)
- Resisting Predatory Finance w/ Raúl Carrillo (Recovered Audio!)
- Modern Movie Theory: What We Do in the Shadows
- Criticism LTD w/ Matt Seybold
- Teaching Economics w/ Benjamin Wilson
- Monetary Foundations of Education w/ Larry Johnson
- Power to the People w/ Sandeep Vaheesan
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