L. Randall Wray
MMP Blog #2: The Basics of Macro Accounting
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.
MMP Blog #1: Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems
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.
Bernanke’s 29 Trillion Dollar Fog of Deceit
It is certain that no government anywhere, ever, has committed so much to benefit so few.
MMT 101: Response to the Critics Part 3
In this piece, we study the interaction between the government and nongovernment sectors while retaining the consolidation hypothesis.
MMT 101: Response to the Critics Part 2
MMT is frequently criticized for consolidating the treasury and the central bank. In this post, we will address these issues by tackling problems surrounding the nature of money and the role of taxes, and by beginning to deal with the consolidation argument.
MMT 101: A Reply to Critics Part 1
This is Part 1 of a six part series in which we deal with critics of MMT. As readers of this blog know, our critics continually raise the same old tired critiques of MMT.