Lars P. Syll

When people start to invade the lawn in The Magistrate’s Park yours truly knows for sure — spring is here!

The myth of barter Even in the most advanced industrial economies, if we strip exchange down to its barest essentials and peel off the obscuring layer of money, we find that trade between individuals and nations largely boils down to barter. Paul Samuelson You will find similar nonsense stories told in almost all mainstream textbooks today. And the truth, as so often when it comes to economics fairytales, is quite another: No example of a barter economy,...

Der Geist des Geldes  [embedded content] [I was happy to see a dear old friend of mine, Otto Steiger (1938-2008), appear in this film. When discussing the history of MMT I don’t think he is given enough credit. A great economic thinker and a very amiable person.]

The recession that is coming  [embedded content]

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The modern state can make anything it chooses generally acceptable as money and thus establish its value quite apart from any connection, even of the most formal kind, with gold or backing of any kind. It is true that a simple declaration that such and such is money will not do, even if backed by the most convincing constitutional evidence of the state’s absolute sovereignty. But if the state is willing to accept the proposed money in the payment of taxes and other obligations...

Karl-Erik In Memoriam (personal) [embedded content] Till minnet av vår käre granne — gentlemannen, konsthandlaren, författaren och tidningsmannen Karl-Erik Johansson (1934-2019). RIP.

How money is created Everything we know is not just wrong – it’s backwards. When banks make loans, they create money. This is because money is really just an IOU. The role of the central bank is to preside over a legal order that effectively grants banks the exclusive right to create IOUs of a certain kind, ones that the government will recognise as legal tender by its willingness to accept them in payment of taxes. There’s really no limit on how much...

The history of MMT  [embedded content]

How to cure National Debt Hysteria  [embedded content]