Sound Money
The inflation hawks have a point: inflation is genuinely destabilizing. But where the inflation hawks go wrong is in blaming “money printing” for inflation.
Economic Justice
The Emperor’s New Commodities
Frauds and hucksters have always relied on false dichotomies and thought-terminating cliches to misdirect the attention of their audience from more appealing alternatives.
Where to Start Learning About MMT
Have you recently discovered MMT or Modern Monetary Theory and want to learn more but aren’t sure where to start? Well, start at the beginning, of course!
The National Debt and Other Red Herrings
Discussions of inflation are often laden with an air of superstition and moral panic. Like all such things they can only persist in the face of misunderstanding and rumor.
Back to [MMT] Basics
From the definition of a dollar as a unit of measure all the way to what The Fed is and how public policy can be informed – Grumbine runs the gamut on MMT basics.
The Dilemma of the Cooperative Gene
Given the relationship between “money” and real resources, it is impossible to equitably “share” real resources, and effectively create collective goods, when money is a scarce commodity controlled by competition.
Let’s Play the Pay For Game
Admit that taxes don’t “pay for” anything and that all government spending is paid for in one way and one way only—the Federal Reserve credits the appropriate bank accounts.
Four Purposes of Federal Taxes
Beardsley Ruml wrote in 1946 that taxes for revenue are obsolete. So what ARE they for?
Bernanke’s 29 Trillion Dollar Fog of Deceit
It is certain that no government anywhere, ever, has committed so much to benefit so few.
