L. Randall Wray

Attempts to cut deficit spending presume that government budget deficits are discretionary. If only the government were to try hard enough, it could slash its deficit.

Comments and responses on the Modern Money Primer Part 4.

In today’s blog we will go a bit deeper into the accounting, looking at the relation between flows (deficits) and stocks (debts).

Comments and responses on the Modern Money Primer Part 3.

This week we will take a little break from pure accounting, and apply what we’ve learned to a real world example.

Comments and responses on the Modern Money Primer Part 2.

You cannot possibly understand the debate about the government’s budget (and critique the deficit hysteria that has gripped our nation across the political spectrum from right to left) without understanding basic macro accounting.

Comments and responses on the Modern Money Primer Part 1.

This primer seeks to fill the gap between formal presentations in the academic journals and the informal blogs. It will begin with the basics to build to a reasonably sophisticated understanding.