The MMT Podcast with Patricia Pino & Christian Reilly cover image

#126 Dirk Ehnts: How Banks Create Money

The MMT Podcast with Patricia Pino & Christian Reilly

CHAPTER

The State of Money by Mark Napp, Volume One

M m t didn't re invent the world. Rather, it borrows from older economic theories or arrives at the same conclusions. For example, german economist george friedrich knapp published the book state theory of money in 19 o five. Although napp's book begins with the sentence, money is a creatu of the legal order. In the book, you contrast that with mark's conception of paper money. Could you talk obout that? Yes, when i went into into reading m m t, i kind of thought that maybe the's, there's going to be something in marks' work.

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