#43 Sam Levey: Understanding Endogenous Money
The MMT Podcast with Patricia Pino & Christian Reilly
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Endogenous vs Exogenous Money: A Deeper Dive
This chapter explores the fundamental differences between endogenous and exogenous money, highlighting how money is generated within the economy versus being influenced by external policies. It critiques the money multiplier theory, examines the operational realities of banking, and discusses the critical role of central banks in maintaining liquidity. Historical examples are used to illustrate the significance of credit in economic activities and the evolution of banking systems.
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