What is money? An explanation — Richard Murphy

Summary:
Warren Mosler sums it up pithily: Modern money as state-issued currency is a tax credit. Richard Murphy unpacks this a bit.Tax Research UKWhat is money? An explanation Richard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy ForumAlso from Richard Murphy I would say that MMT is well-defined by the MMT economists. Most economist that "embrace MMT" either misunderstand MMT in important ways or else focus on only a part of it. If they wish to create an economics that "embraces MMT" in their understanding they they should also create a different name for it to avoid confusion with MMT properly speaking.Question of to the day:

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