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Happy 25th birthday, Modern Money Theory! — Dirk Ehnts

Summary:
On Monday, January 29, 1996, Warren B. Mosler, Director of Economic Analysis at III Finance, wrote a message on a message board in which he asks academics for references and help regarding his model. The model was spelled out in his text “Soft Currency Economics” (SCE), which Warren Mosler worked on in the early 1990s. The following collaboration of Warren Mosler with academics like Randall Wray, Bill Mitchell and many others led to the (further) development of an empirical theory of money now know as Modern Money Theory. In this article, I quote some juicy passages from SCE to highlight the early foundations of MMT....You've come a long way, baby!  The Gower Initiative for Modern Money StudiesHappy 25th birthday, Modern Money Theory!Dirk Ehnts

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On Monday, January 29, 1996, Warren B. Mosler, Director of Economic Analysis at III Finance, wrote a message on a message board in which he asks academics for references and help regarding his model. The model was spelled out in his text “Soft Currency Economics” (SCE), which Warren Mosler worked on in the early 1990s. The following collaboration of Warren Mosler with academics like Randall Wray, Bill Mitchell and many others led to the (further) development of an empirical theory of money now know as Modern Money Theory. In this article, I quote some juicy passages from SCE to highlight the early foundations of MMT....
You've come a long way, baby! 

The Gower Initiative for Modern Money Studies
Happy 25th birthday, Modern Money Theory!
Dirk Ehnts
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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