Do Bond Sales & Borrowing Finance US Deficit Spending?
Professor L. Randall Wray responds to this question and debunks the misunderstandings and fallacies surrounding it.
L. Randall Wray
Towards a Libertarian/Austrian Modern Money Theory
Any time there is an MMT post, the comments are dominated by conspiracy theorists, haters of government, goldbugs, and victims of alien probings who are certain that MMT-ers are united in their effort to ramp up government until it consumes the entire economy.
Tax Bads, Not Goods
Once we understand what taxes are “for”, we can start to think about what kinds of taxes make sense.
An Alternative Meme for Money: Conclusion
The monetary system provides the power to do good, and the power to do bad is the other side of the coin.
An Alternative Meme For Money, Part 7: Framing Deficits
A government deficit will result if the nongovernment sector has a surplus—a perfectly sustainable balance.
An Alternative Meme for Money, Part 6: Alternative Framing on Inflation
If there’s no inflation danger, there is no point in taxing the rich before keystroking the poor.
An Alternative Meme for Money, Part 5: A Spending Meme
Wherever this flag’s flown, We take care of our own. 🎵 Progressives need a new meme for money. This series is addressed to them.
A Meme For Money, Part 4: The Alternative Tax Meme
Let us continue to develop an alternative frame for money. As you know, MMT says that “taxes drive money”. Let’s develop that further.
A Primer on Government Surpluses
It is difficult to believe that our economy can continue to grow robustly as the government sucks disposable income and wealth from the private sector by running surpluses.
The Perfect Fiscal Storm: Causes, Consequences, Solutions
Understanding how federal finance works makes for better predictions and sensible policy.