MMP Blog #48: Is The Job Guarantee Necessary?
Once one understands that sovereign governments do not have to force millions to suffer involuntary unemployment, then the ethically defensible position of opposing a Job Guarantee is narrowed.
Sovereign Fiat Currency
MMP Blog #45: The JG and Affordability Issues with Special Considerations for Developing Nations
A sovereign nation operating with its own currency in a floating exchange rate regime can always financially afford an JG/ELR program. So long as there are workers who are ready and willing to work.
MMP Blog #35: Functional Finance: A Conclusion
Let’s finish up the discussion of Lerner’s functional finance approach addressing two issues: functional finance and developing nations and also the functional finance approach to trade deficits.
MMP Blog #33: Functional Finance and Long Term Growth
Applying a household “budget constraint” to government is obviously inappropriate—households are users of the currency, while government is the issuer. How could economics have become so confused?
MMP Blog #31: FUNCTIONAL FINANCE: Monetary and Fiscal Policy for Sovereign Currencies
This week we begin a new topic: functional finance. Today we will lay out Abba Lerner’s approach to policy.
MMP Blog #26: Sovereign Currency and Government Policy in the Open Economy
A country that floats its exchange rate can enjoy domestic policy independence and free capital flows. A country that pegs its exchange rate must choose to regulate capital flows or must abandon domestic policy independence.
