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Modern Monetary Theory & Full Reserve Banking: Connected by Fiat
[The fourth of a series of posts on MMT, ‘The Chicago Plan Revisited’, and related issues; see also part 1, part 2, & part 3] Summary: MMT understands the monetary system in depth, particularly a...
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Question on Steve Keen/MMT Discussion, Total Size of Private Debt|FIRE Sector...
[No claim to originality in this post – just want some opinions on some common views on private debt, MMT, Keen’s work, and the FIRE sector] Steve Keen argues that private debt was/is an important...
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TOWARDS A PURE STATE THEORY OF MONEY, PROLOGUE: A NOTE ON KNAPP & INNES
Neo-chartalists rightly look to Georg Friedrich Knapp and Alfred Mitchell-Innes as brilliant forefathers of a state and credit theory of money. However, Knapp and Innes* of course wrote in a different...
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TOWARDS A PURE STATE THEORY OF MONEY
[Prologue to this post] MODERN MONETARY THEORY (MMT) notes correctly that money is a creature of the state, and that important macroeconomic and policy conclusions follow from this understanding, e.g.,...
View ArticleEndogenous money, MMT, Positive Money, & financial reform
Among the Post-Keynesian groups concerned with understanding and fixing problems that lead to the 2007/8 Global Financial Crisis (GFC) and other ongoing economic problems there are different areas of...
View ArticleThe Banking System We Need
As the crisis of 2007 demonstrated, the banking system in its current form does not optimally serve the public interest. To make the system work in the best interest of the nation as a whole, I would...
View ArticleOMFG, MMT & Positive Money Get Along
_ {OMFG = Overt Monetary Financing of Government} Introduction Economies run on tokens from two balance sheet expansions: (The sum of) Banks’ balance sheet expansions, where bank loans create...
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