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Soft Currency Economics II (MMT - Modern Monetary Theory Book 1)
The author has been called "one the brightest minds in finance" CNBC 2010
Soft Currency Economics is the little book that could logically, in both real and nominal terms, legitimately challenge many of the core held beliefs of the mainstream classical and neo-classical schools of economics. It is a corner stone publication for the new, widely popular fresh approach to...more
Kindle Edition, 95 pages
Published October 25th 2012
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Corbynomics, New Economics & Anti-Austerity Theory
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I am seriously trying to understand "modern monetary theory." A friend who is doing the same recommended this book to me, on the grounds that it is short and clear. It is short, and it is quite clear, but it was still a little over my head. I think it was helpful to me in grasping more of the basic concept (which is, very roughly, that governments that issue money must operate at a deficit, because the government deficit is what makes money circulate in the private sector). If the MMT theorists ...more
Brief, breathless, long on claims and short on rigor. But this is an influential strain of thinking and it will likely leave a mark. 'This Time Its Different' (Reinhart/Rogoff) suggests that we don't really know what the limits of Public Debt/GDP are (they make some quantitative guesses). MMT seems to argue there are no limits. And while R/R wrestle with how large magnitude public debts are liquidated (either through inflation or default), MMT treats it as a residual that falls out - doesn't ...more