Tag Archives: MMT

Remarks by L. Randall Wray at “The Treaty of Versailles at 100: The Consequences of the Peace”, a conference at the Levy Economics Institute, Bard College, May 3, 2019. I’m going to talk about war, not peace, in relation to our work on the Green New Deal—which I argue is the big MEOW—moral equivalent of war—and how we are going to pay for it. So I’m going to focus on Keynes’s 1940 book— How To Pay for the War—the war that followed the Economic Consequences of the Peace. Our analysis...

Apparently the British Left is “fizzing with ideas for a smarter economy” according to the UK Guardian article (May 12, 2019) – The zeitgeist has shifted. Now the left is fizzing with ideas for a smarter economy – written by Will Hutton. I can’t say I sensed an outbreak of fizz. But in the colloquial language from where I come from, the term fizzer means “Something that promised excitement but instead was a disappointment”, Yes, Hutton’s fizzers include promoting the insights of a...

Matias Vernengo dives into MMT a bit again and further clarifies his position. Naked KeynesianismBernie and AOC are Functional Finance (and Socialists) but not necessarily MMT Matias Vernengo | Associate Professor of Economics, Bucknell UniversityOn Karl Polanyi and the labor theory of value

Video of Bill's May 9, Glascow presentation. A good time was had by all.Bill Mitchell – billy blogTravelling all day today … Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia

I am in London today (Monday) and have two events. First, I am doing a ‘Train the Trainers’ workshop for – The Gower Initiative for Modern Monetary Studies – where we will work through some techniques and concepts to help activists educate others about Modern Monetary Theory (MMT). Second, I am meeting with some Labour Party Members of Parliament who are keen to learn more about MMT and incorporate its insights into their political work. Get the drift? People wanting to learn and setting up...

WASHINGTON, May 13, 2019 /PRNewswire/ -- Today marks the official launch of the Our Money Campaign, an issue-based advocacy campaign that seeks to mainstream the academic insights of Modern Monetary Theory (MMT) to solve some of our nation's greatest social and economic challenges. According to campaign Founder and Organizer Rev. Delman Coates, "We seek to build a diverse, grassroots, bi-partisan movement that endeavors to address poverty, wealth concentration, unemployment, affordable...

Distinguishing currency acceptance from currency value therefore carries a social significance. So long as a sovereign government’s currency is accepted, neither the currency nor society is ultimately beholden to the law of value. Since a currency can be made viable irrespective of (marxist) value considerations, a currency-issuing government can override the law of value whenever this is the political will. This opens the way for an extension of not-for-profit activity and, if desired, a...

Good "debate." Lays important issues on the table. Short read.TRNNThe MMT Debate With Dean Baker & Randall Wray

Bill Totten resurrects Randy Wray's remark on what MMT economists do and why some of the criticism directed at them is poorly aimed. Timely, now that MMT has gone mainstream and is getting a lot of criticism.Bill Totten's WeblogWray: MMT Primer – Blog #1 Responses (June 8, 2011) Bill Totten

Ralph makes some good points.RalphonomicsArticle in the Frankfurter Allgemeine by Dirk Ehnts on MMT. Ralph Musgrave