
#15 Warren Mosler, Bill Mitchell, Patricia Pino, Chris Cook: Modern Monetary Theory and the economics of an independent Scotland
The MMT Podcast with Patricia Pino & Christian Reilly
00:00
Taxation and Currency: Historical Insights
This chapter explores the evolution of state provisioning methods, shifting from historical practices like enslavement to modern tax systems that create demand for currency. It highlights the significance of government spending preceding taxation and introduces the concept of a new currency, 'Kilt,' and its potential economic implications in Scotland. The discussion also covers the role of central banks in managing inflation and employment through a job guarantee system, drawing historical parallels to illustrate its effectiveness.
Transcript
Play full episode