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.[1] 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.[2][3] 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.
References
- ↑ 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).
Links
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
Other media
- Podcast
- 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
- Live event
- MMT vs. Austrian School Debate, Warren Mosler, Robert P. Murphy, John Carney, June 2013
