Tag Archives: Teaching Model

A Brief for Any Future Federal Government

I prevaricated over whether to put this in the LayPerson or Economics category but I think the result speaks for itself Many readers ask me (Bill Mitchell)  to provide a Modern Monetary Theory (MMT) rule for sound fiscal management. I … Continue reading

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How Money Works

The last few blogs were a little heavy so let’s return to our model on How Money Works. Previously we have used business cards, sea shells and this time we will be using Casino chips. Originally posted on 11 December … Continue reading

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A simple business card economy

A simple budget game! Here is an example to help you think about all of this economic jargon. The concepts are simple and the numbers are small which makes it easy to understand and relate to (thanks to Warren Mosler … Continue reading

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MMT: The accounting of government budget deficits

Econ 101 Imagine you and are the only two people in an economy. For the sake of argument, say we use sea shells as a currency and we trade with no one else but each other. So when we do … Continue reading

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