L. Randall Wray

We will look to the frequent claim that the US is “special”—while it might be able to run persistent government deficits and trade deficits, other countries cannot.

Comments and responses on the Modern Money Primer Part 24.

When government deficit spends, some of the claims on government will end up in the hands of foreigners. Does this matter? Yes, according to many.

Comments and responses on the Modern Money Primer Part 23.

We should not be fooled by such self-imposed constraints. We should be able to see through them to understand that since they are imposed by government on itself, they can be removed.

Comments and responses on the Modern Money Primer Part 22.

Since government deficits create an equivalent amount of nongovernment savings, it is impossible for the government to face an insufficient supply of savings.

Comments and responses on the Modern Money Primer Part 21.

It is best to think of the net saving of the nongovernment sector as a consequence of the government’s deficit spending—which creates income and savings.

Comments and responses on the Modern Money Primer Part 20.