Modern Monetary Theory
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Modern Monetary Theory or Modern Money Theory (MMT) or Modern Monetary Theory and Practice (MMTP) is a macroeconomic theory and practice that describes the practical uses of fiat currency in a public monopoly from the issuing authority, normally the government's central bank. Effects on employment are used as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires. MMT is an evolution of chartalism and is sometimes referred to as neo-chartalism. Its macroeconomic policy prescriptions have been described as being a version of Abba Lerner's theory of functional finance.
- Modern Monetary Theory (MMT): A General Introduction. Political Economy - Development: Fiscal & Monetary Policy eJournal. Social Science Research Network (SSRN). Accessed 10 April 2020.
- Warren Mosler, ME/MMT: The Currency as a Public Monopoly
- Éric Tymoigne and L. Randall Wray, "Modern Money Theory 101: A Reply to Critics," Levy Economics Institute of Bard College, Working Paper No. 778 (November 2013).
Articles and essays
- by Robert P. Murphy
- "The Upside-Down World of MMT", January 2011
- MMT Is Even More Dubious Than AOC's Green New Deal, February 2019
- MMT and Central Banking by Joseph Solis-Mullen, April 2020
- Not-So-Modern Monetary Theory by Arkadiusz Sieroń, October 2019
- The Tom Woods Show: Ep. 38 Murphy Takes on MMT, Robert P. Murphy, October 2014
- The Tom Woods Show: Ep. 1116 Debate: Bob Murphy and Dylan Moore on Modern Monetary Theory (MMT), March 2018
- ContraKrugman: Ep. 128 The Destructive Idiocy of “Modern Monetary Theory”, March 2018
- ContraKrugman: Ep. 177 Semi-Sensible Krugman vs. Modern Monetary Theory (MMT), February 2019
- The Bob Murphy Show: Ep. 18 Warren Mosler Defends the Essential Insights of Modern Monetary Theory (MMT), February 2019
- The Bob Murphy Show: Ep. 24 Murphy Dissects His Discussion of MMT With Warren Mosler, March 2019