L. Randall Wray

There are often two objections to the claim that government spending effectively takes place by simultaneously crediting the recipient’s bank account as well as the bank’s reserves.

Comments and responses on the Modern Money Primer Part 19.

Let us now begin to examine in more detail the government’s budget and impacts on the nongovernment sector.

Comments and responses on the Modern Money Primer Part 18.

Our next topic: government spending, taxing, interest rate setting, and bond issue. We will examine fiscal and monetary policy formation by a government that issues its own currency.

Comments and responses on the Modern Money Primer Part 17.

I had thought the distinction between real and financial (nominal) was clear—but obviously it was not.

Comments and responses on the Modern Money Primer Part 16.

The fundamental point to be made here is that the Euro arrangement was flawed from the beginning.

Comments and responses on the Modern Money Primer Part 15.