Tag Archives: MMT

It is Wednesday and I am going to stick to my decision to ‘not publish a blog post’ on Wednesdays unless there is some new data (such as the quarterly release of the Australian National Accounts). I want to use this time to attend to other writing obligations. But a few snippets won’t hurt, will they? The first, looks at some extraordinary denial from the European Union bosses. The second, looks at evidence that the Brexit environment is already providing positive dynamics for British...

It is my last blog post for the year. And we leave the year with not much gained from a progressive perspective. The mid-term elections in the US just swapped deficit-terrorist Republicans (who have been compromised by the big-spending Trump) with ridiculous PayGo Democrats, who are intent on repeating all their previous mistakes. The Brexit negotiations reveal how appallingly compromised the Tories have become and how venal the European Commission is. The British Labour Party fiscal rule...

MMT gets a mention. Increasingly, the mentions are not negative, just a statement of the MMT position. That's called educating the public.Looking at the US economy, things are going quite well based on money creation, both through government injection and private credit extension. This is a reason that the Fed is raising rates as part of its reaction function to balance the trend, in addition to its commitment to normalizing after the effects of addressing the global financial crisis...

Zimbabwe!Tim Worstall doubles down.(Tim covers himself in the concluding paragraphs though.)Continental TelegraphThe Problem With Modern Monetary Theory – Explained For Children So MMT Enthusiasts Can Understand Tim Worstall

Last week, Warren Mosler and I had one of our regular catchups and we discussed at length the state of play in Modern Monetary Theory (MMT). We are quite protective of it. We mused about how we started out on this Project and where it has gone. As old stagers do when they get together. We also reflected and compared notes on what the state of MMT is now, given the increasing visibility of the ideas in the mainstream media all around the world and the proliferation of social media activists...

Actually, not really. Only governments have "printing presses" and other attempts to "print money" are called counterfeiting. Steve Roth knows this, of course, so he must being using "printing money" in another sense. Banks don't have printing presses in the basement, literally or figuratively. Governments that issue their currencies as government liabilities do. Banks increase M1 money supply by adding assets as receivables to their balance sheets as receivables  and booking...

Review of Bill Mitchell and Thomas Fazi's Reclaiming the State.Village‘Reclaiming the State – a Progressive Vision of Sovereignty for a Post-Neoliberal World’Anthony Coughlan | Associate Professor Emeritus in Social Policy, Trinity College Dublin

This is a repost by Socialist Economist of an earlier article by Nick Johnson. If you didn't catch it here at MNE the first time, here it is again. If you did, well, it's more evidence of MMT getting media exposure.Socialist EconomistModern Monetary Theory and Inflation – Anwar Shaikh’s Critique Nick Johnson, The Political Economy of Development

Stephanie Kelton tweet explaining the basis of MMT. Some keeper quotes.Political RealityDr. Kelton tweet thread on issuing money Zap

No, this is not the Onion.Can't even spell the name "Modern Monetary Theory" right. OK, finance and economics is hard, but spelling?Columbia Daily TribuneModeren [sic] Monetary Theory is unsustainable hypocrisy Craig A. Van Matre, retired attorney formerly with Van Matre, Harrison, Hollis and Taylor