Modern Money Theory

Author : L. Randall Wray
Publisher : Springer
ISBN 13 : 1137539925
Total Pages : 322 pages
Book Rating : 4.22/5 ( download)

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Download or read book Modern Money Theory written by L. Randall Wray and published by Springer. This book was released on 2015-09-22 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.

Author : Stephanie Kelton
Publisher : PublicAffairs
ISBN 13 : 1541736206
Total Pages : 311 pages
Book Rating : 4.07/5 ( download)

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Download or read book The Deficit Myth written by Stephanie Kelton and published by PublicAffairs. This book was released on 2020-06-09 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Author : Gerald A. Epstein
Publisher : Springer
ISBN 13 : 3030265048
Total Pages : 100 pages
Book Rating : 4.45/5 ( download)

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Download or read book What's Wrong with Modern Money Theory? written by Gerald A. Epstein and published by Springer. This book was released on 2019-08-09 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Palgrave Pivot assesses the validity of Modern Money Theory’s approach to macroeconomic policy, specifically monetary and fiscal policy. Whereas other papers have focused primarily on theoretical and doctrinal issues, this book focuses primarily on an analysis of MMT’s policy approach. Though drawing on academic literature, this book’s approach is empirical and policy-based, making it accessible to scholars and the public alike. It addresses a burning question in the policy and politics of the US and elsewhere where MMT is gaining a policy foothold, especially among progressive activists and politicians: Is MMT, in fact, a good guide for progressive macroeconomic policy? The main focus of this book is to explain why the answer to this question is no.

Author : Dirk H. Ehnts
Publisher : Routledge
ISBN 13 : 1317224795
Total Pages : 239 pages
Book Rating : 4.92/5 ( download)

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Download or read book Modern Monetary Theory and European Macroeconomics written by Dirk H. Ehnts and published by Routledge. This book was released on 2016-10-14 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance sheets of the central bank or commercial bank. While households and firms hold accounts at banks with deposits, banks hold an account at the central bank where deposits are called reserves. The book aims to explain how the two monetary circuits – central bank deposits and bank deposits – are intertwined. It is also shown how government spending injects money into the economy. Modern Monetary Theory and European Macroeconomics covers both the general case and then the Eurozone specifically. A very simple macroeconomic model follows which explains the major accounting identities of macroeconomics. Using this new methodology, the Eurozone crisis is examined from a fresh perspective. It turns out that not government debt but the stagnation of private sector debt was the major economic problem and that cuts in government spending worsened the economic situation. The concluding chapters discuss what a solution to the current problems of the Eurozone must look like, with scenarios that examine a future with and without a euro. This book provides a detailed balance sheet view of monetary and fiscal operations, with a focus on the Eurozone economy. Students, policy-makers and financial market actors will learn to assess the institutional processes that underpin a modern monetary economy, in times of boom and in times of bust.

Author : L. Randall Wray
Publisher : Edward Elgar Publishing
ISBN 13 : 9781845429416
Total Pages : 0 pages
Book Rating : 4.19/5 ( download)

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Download or read book Understanding Modern Money written by L. Randall Wray and published by Edward Elgar Publishing. This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Understanding Modern Money' exposes flaws in the foundations of mainstream macroeconomics and suggests a better way to formulate policy that will benefit everyone living in capitalistic societies.

Author : L. Randall Wray
Publisher : Springer
ISBN 13 : 1137265140
Total Pages : 294 pages
Book Rating : 4.42/5 ( download)

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Download or read book Modern Money Theory written by L. Randall Wray and published by Springer. This book was released on 2016-02-25 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a challenge to conventional views on modern monetary and fiscal policy, this book presents a coherent analysis of how money is created, how it functions in global exchange rate regimes, and how the mystification of the nature of money has constrained governments, and prevented states from acting in the public interest.

Author : M.L. Burstein
Publisher : Springer
ISBN 13 : 134918070X
Total Pages : 223 pages
Book Rating : 4.07/5 ( download)

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Download or read book Modern Monetary Theory written by M.L. Burstein and published by Springer. This book was released on 1986-01-28 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Innovations in financial markets and in financial management, together with dramatic innovations in the substance and technique of monetary theory, have made it necessary to restate the theory of money and the theory of monetary policy. In order to provide a new monetary theory, the author treats fully the following material: choice of currency and the theory of convertibility; interest on money; speculation and rational expectations; implications of electronic-transfer settlement procedures for monetary theory, as well as other matters. The theories of Tobin are developed and exposited in detail, as is the work of Friedman.

Author : Costas Lapavitsas
Publisher : Routledge
ISBN 13 : 1000581225
Total Pages : 103 pages
Book Rating : 4.25/5 ( download)

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Download or read book Debating Modern Monetary Theory written by Costas Lapavitsas and published by Routledge. This book was released on 2022-04-27 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book considers the theoretical and empirical claims of Modern Monetary Theory (MMT) in developed and developing countries. It is structured as a debate between leading MMT theorists and MMT critics. MMT threw down a challenge to mainstream economics and forced it to respond, above all in the USA. This is a rare occurrence, almost unknown, for heterodox economics during the last few decades. It is not surprising, therefore, that MMT has attracted strong attention from a broad swathe of researchers. It is even less surprising that it has become the theoretical vehicle of choice for political activists opposing austerity. Its influence is remarkable and has gradually spread to other social disciplines, including even cultural theory. Furthermore, the policy responses to coronavirus by several governments, particularly the extraordinary expansion of central bank balance sheets in 2020, appears to support MMT in practice. This volume takes into account the rising popularity of MMT and considers its theoretical claims in depth, since popularity does not necessarily equate to being right in theory. It also considers MMT claims regarding fiscal and monetary policy in view of the implications of the pandemic crisis for public spending and public debt. It is not accidental that the strongest support for MMT, in both theory and policy, is to be found in the USA, since MMT conclusions rely heavily on close institutional analysis of US government financing mechanisms. The chapters in this book were originally published as a special issue of The Japanese Political Economy.

Author : Meyer Louis Burstein
Publisher : New York : St. Martin's Press
ISBN 13 : 9780312541088
Total Pages : 211 pages
Book Rating : 4.82/5 ( download)

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Download or read book Modern Monetary Theory written by Meyer Louis Burstein and published by New York : St. Martin's Press. This book was released on 1986 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Eduardo Garzón Espinosa
Publisher : Taylor & Francis
ISBN 13 : 1003860281
Total Pages : 196 pages
Book Rating : 4.80/5 ( download)

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Download or read book Modern Monetary Theory written by Eduardo Garzón Espinosa and published by Taylor & Francis. This book was released on 2024-03-05 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a rigorous, detailed, and balanced analysis of the various contributions to the Modern Monetary Theory (MMT) debate, incorporating both the arguments of proponents and those who point to its limitations and obstacles. Modern Monetary Theory has soared in popularity, particularly in response to the Covid-19 pandemic and subsequent impacts on the economy which have led to deeper discussions about monetary and financial systems, fiscal and monetary policies, inflation, and employment. The main characteristic of Modern Monetary Theory is that it offers a revolutionary way of thinking about all these issues, allowing us to abandon many of the myths that conventional economic theory installed in the collective imagination. Breaking down these false beliefs is an essential requirement for thinking and devising economic policy proposals that allow full employment to be achieved without suffering worrying inflation rates. However, this approach has also attracted many criticisms and it is also instructive to consider these in more detail to reach a fully rounded conclusion about the potential or merits of MMT. Written to be accessible to the non-economist, this book will be of great interest to readers from across the social sciences, and outside of academia who want to gain a fuller understanding of the Modern Monetary Theory phenomenon.