Debating Modern Monetary Theory

Debating Modern Monetary Theory
Author: Costas Lapavitsas
Publisher: Routledge
Total Pages: 103
Release: 2022-04-27
Genre: Business & Economics
ISBN: 1000581225


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This book considers the theoretical and empirical claims of Modern Monetary Theory (MMT) in developed and developing countries. It is structured as a debate between leading MMT theorists and MMT critics. MMT threw down a challenge to mainstream economics and forced it to respond, above all in the USA. This is a rare occurrence, almost unknown, for heterodox economics during the last few decades. It is not surprising, therefore, that MMT has attracted strong attention from a broad swathe of researchers. It is even less surprising that it has become the theoretical vehicle of choice for political activists opposing austerity. Its influence is remarkable and has gradually spread to other social disciplines, including even cultural theory. Furthermore, the policy responses to coronavirus by several governments, particularly the extraordinary expansion of central bank balance sheets in 2020, appears to support MMT in practice. This volume takes into account the rising popularity of MMT and considers its theoretical claims in depth, since popularity does not necessarily equate to being right in theory. It also considers MMT claims regarding fiscal and monetary policy in view of the implications of the pandemic crisis for public spending and public debt. It is not accidental that the strongest support for MMT, in both theory and policy, is to be found in the USA, since MMT conclusions rely heavily on close institutional analysis of US government financing mechanisms. The chapters in this book were originally published as a special issue of The Japanese Political Economy.

Debating Modern Monetary Theory

Debating Modern Monetary Theory
Author: Costas Lapavitsas
Publisher: Taylor & Francis
Total Pages: 112
Release: 2022-04-27
Genre: Business & Economics
ISBN: 1000581187


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This book considers the theoretical and empirical claims of Modern Monetary Theory (MMT) in developed and developing countries. It is structured as a debate between leading MMT theorists and MMT critics. MMT threw down a challenge to mainstream economics and forced it to respond, above all in the USA. This is a rare occurrence, almost unknown, for heterodox economics during the last few decades. It is not surprising, therefore, that MMT has attracted strong attention from a broad swathe of researchers. It is even less surprising that it has become the theoretical vehicle of choice for political activists opposing austerity. Its influence is remarkable and has gradually spread to other social disciplines, including even cultural theory. Furthermore, the policy responses to coronavirus by several governments, particularly the extraordinary expansion of central bank balance sheets in 2020, appears to support MMT in practice. This volume takes into account the rising popularity of MMT and considers its theoretical claims in depth, since popularity does not necessarily equate to being right in theory. It also considers MMT claims regarding fiscal and monetary policy in view of the implications of the pandemic crisis for public spending and public debt. It is not accidental that the strongest support for MMT, in both theory and policy, is to be found in the USA, since MMT conclusions rely heavily on close institutional analysis of US government financing mechanisms. The chapters in this book were originally published as a special issue of The Japanese Political Economy.

Modern Monetary Theory and Its Critics

Modern Monetary Theory and Its Critics
Author: Edward Fullbrook
Publisher:
Total Pages: 434
Release: 2019
Genre: Currency question
ISBN: 9781911156512


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This collection of essays from leading economists in the MMT debate offers the reader a range of viewpoints from which to become informed about what is set to be a significant part of economic policy discussion in the coming years.

Modern Monetary Theory

Modern Monetary Theory
Author: Abdelhak Chabane
Publisher:
Total Pages: 42
Release: 2015
Genre:
ISBN:


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Democratizing Money?

Democratizing Money?
Author: Beat Weber
Publisher:
Total Pages: 287
Release: 2018-05-17
Genre: Business & Economics
ISBN: 1107195810


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Weber provides an economic analysis of current, post-crash monetary reform proposals, including Bitcoin, sovereign money, regional money and modern monetary theory. The book critically examines these reform concepts, exposing their flaws and fallacies, guiding the reader towards a contemporary understanding of what money is and how it works today.

Modern Monetary Theory

Modern Monetary Theory
Author: Eduardo Garzón Espinosa
Publisher: Taylor & Francis
Total Pages: 196
Release: 2024-03-05
Genre: Business & Economics
ISBN: 1003860281


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This book offers a rigorous, detailed, and balanced analysis of the various contributions to the Modern Monetary Theory (MMT) debate, incorporating both the arguments of proponents and those who point to its limitations and obstacles. Modern Monetary Theory has soared in popularity, particularly in response to the Covid-19 pandemic and subsequent impacts on the economy which have led to deeper discussions about monetary and financial systems, fiscal and monetary policies, inflation, and employment. The main characteristic of Modern Monetary Theory is that it offers a revolutionary way of thinking about all these issues, allowing us to abandon many of the myths that conventional economic theory installed in the collective imagination. Breaking down these false beliefs is an essential requirement for thinking and devising economic policy proposals that allow full employment to be achieved without suffering worrying inflation rates. However, this approach has also attracted many criticisms and it is also instructive to consider these in more detail to reach a fully rounded conclusion about the potential or merits of MMT. Written to be accessible to the non-economist, this book will be of great interest to readers from across the social sciences, and outside of academia who want to gain a fuller understanding of the Modern Monetary Theory phenomenon.

Modern Monetary Theory

Modern Monetary Theory
Author: M.L. Burstein
Publisher: Springer
Total Pages: 223
Release: 1986-01-28
Genre: Business & Economics
ISBN: 134918070X


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Innovations in financial markets and in financial management, together with dramatic innovations in the substance and technique of monetary theory, have made it necessary to restate the theory of money and the theory of monetary policy. In order to provide a new monetary theory, the author treats fully the following material: choice of currency and the theory of convertibility; interest on money; speculation and rational expectations; implications of electronic-transfer settlement procedures for monetary theory, as well as other matters. The theories of Tobin are developed and exposited in detail, as is the work of Friedman.

Modern Monetary Theory

Modern Monetary Theory
Author: Eduardo Garzón Espinosa
Publisher: Routledge
Total Pages: 0
Release: 2024-03-05
Genre:
ISBN: 9781032443669


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Modern Monetary Theory has soared in popularity in response to the covid-19 pandemic and subsequent impacts to economies.This book offers a rigorous, detailed and balanced analysis of the contributions to the Modern Monetary Theory debate, incorporating the arguments of proponents and those who point to its limitations and obstacles.

Problems With Modern Monetary Theory

Problems With Modern Monetary Theory
Author: Robert Wenzel
Publisher:
Total Pages: 58
Release: 2020-08-18
Genre:
ISBN: 9781716646386


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Finally, a full examination of Modern Monetary Theory by way of a critique of Stephanie Kelton's book, "The Deficit Myth." There are extreme weaknesses at a fundamental level with MMT and it is all discussed here. If you have been captured by the MMT argument or are just curious about MMT errors, this booklet is what you need to read.

Modern Monetary Theory

Modern Monetary Theory
Author: L. R. Wray
Publisher: Edward Elgar Publishing
Total Pages: 327
Release: 2023-01-10
Genre: Business & Economics
ISBN: 1802208097


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Providing an up-to-date account of Modern Monetary Theory with contributions from the world’s leading experts, each chapter offers new insights on the topic, building upon MMT’s established body of work. This innovative book analyses key economic issues from a wide set of regions including the UK, Europe and the Global South, addressing previous concerns that MMT is too US-focused.