The MMT Podcast with Patricia Pino & Christian Reilly

Part 2: Patricia and Christian talk to MMT founder Warren Mosler and MMT scholar Dr Phil Armstrong about their recent paper: “Weimar Republic Hyperinflation through a Modern Monetary Theory Lens”.   Part 1 of this conversation: https://www.patreon.com/posts/episode-88-phil-47638591   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All of our episodes with Warren Mosler: https://www.patreon.com/posts/42918786   All of our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846   Some of our other episodes with Warren Mosler which deal with inflation, interest rates and central bank policy: Episode 59: What Do Central Banks Do?: https://www.patreon.com/posts/39070023 Episode 80: MMT Holiday Special (part 1): https://www.patreon.com/posts/45281376 Episode 81: MMT Holiday Special (part 2): https://www.patreon.com/posts/episode-81-mmt-2-45555840   Our episode 65 with Phil Armstrong on inflation (more on Paul Volcker as Fed chair in the intro): https://www.patreon.com/posts/40672678   Our episode 47 with Pavlina Tcherneva explaining the Job Guarantee: https://www.patreon.com/posts/36034543   Our episode 55 with Dr Dirk Ehnts on MMT in the context of the Eurozone: https://www.patreon.com/posts/38252014   Our episodes with Sam Levey that touch on the forward pricing channel: Episode 43: https://www.patreon.com/posts/35073683 Episode 76: https://www.patreon.com/posts/43697752 Episode 77: https://www.patreon.com/posts/43886189   Weimar Republic Hyperinflation through a Modern Monetary Theory Lens by Phil Armstrong and Warren Mosler: http://moslereconomics.com/wp-content/uploads/2020/11/Weimar-Republic-Hyperinflation-through-a-Modern-Monetary-Theory-Lens.pdf   Warren Mosler - MMT white paper: https://docs.google.com/document/d/1gvDcMU_ko1h5TeVjQL8UMJW9gmKY1x0zcqKIRTZQDAQ/edit   Michael Hudson - Government Debt and Deficits Are Not the Problem. Private Debt Is: https://michael-hudson.com/2013/03/government-debt-and-deficits-are-not-the-problem-private-debt-is/   Clint Ballinger - Airplane crashes aren’t “hyperlandings”: https://clintballinger.wordpress.com/2020/04/30/airplane-crashes-arent-hyperlandings-notes-on-zimbabwe/   A Discussion of Central Bank Operations and Interest Rate Policy by Warren Mosler and Phil Armstrong: https://gimms.org.uk/wp-content/uploads/2019/02/Central-Bank-Interest-Rate-Policy-Mosler-Armstrong.pdf   Monopoly Money: The State as a Price Setter by Pavlina R. Tcherneva: http://moslereconomics.com/wp-content/uploads/2018/04/Tcherneva_MonopolyMoney_2002.pdf   Bill Mitchell - Zimbabwe for hyperventilators 101: http://bilbo.economicoutlook.net/blog/?p=3773   Tickets for “An Introduction To Modern Monetary Theory: Reconceptualising The Nature Of Banking” (presentation by Phil Armstrong) on 26th March 2021, organised by Women in Banking and Finance: https://www.wibf.org.uk/events/details/modern-monetary-theory   A list of other upcoming MMT events and courses: https://www.patreon.com/posts/47531455   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   Phil Armstrong’s book, Can Heterodox Economics Make a Difference?: https://www.e-elgar.com/shop/gbp/can-heterodox-economics-make-a-difference-9781800370883.html   Warren Mosler’s (free) e-book, Seven Deadly Innocent Frauds Of Economic Policy: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf   Transcript for opening monologue: https://www.patreon.com/posts/47905062   We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos   Show notes: https://www.patreon.com/posts/47904999

Part 1: Patricia and Christian talk to MMT founder Warren Mosler and MMT scholar Dr Phil Armstrong about their recent paper: “Weimar Republic Hyperinflation through a Modern Monetary Theory Lens”.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All of our episodes with Warren Mosler: https://www.patreon.com/posts/42918786   All of our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846   Some of our other episodes with Warren Mosler which deal with inflation, interest rates and central bank policy: Episode 59: What Do Central Banks Do?: https://www.patreon.com/posts/39070023 Episode 80: MMT Holiday Special (part 1): https://www.patreon.com/posts/45281376 Episode 81: MMT Holiday Special (part 2): https://www.patreon.com/posts/episode-81-mmt-2-45555840   Our episode 65 with Phil Armstrong on inflation (more on Paul Volcker’s policy decisions as Fed chair in the intro): https://www.patreon.com/posts/40672678   Our episode 55 with Dr Dirk Ehnts on MMT in the context of the Eurozone: https://www.patreon.com/posts/38252014   Our episodes with Sam Levey that touch on the forward pricing channel: Episode 43: https://www.patreon.com/posts/35073683 Episode 76: https://www.patreon.com/posts/43697752 Episode 77: https://www.patreon.com/posts/43886189   Weimar Republic Hyperinflation through a Modern Monetary Theory Lens by Phil Armstrong and Warren Mosler: http://moslereconomics.com/wp-content/uploads/2020/11/Weimar-Republic-Hyperinflation-through-a-Modern-Monetary-Theory-Lens.pdf   A Discussion of Central Bank Operations and Interest Rate Policy by Warren Mosler and Phil Armstrong: https://gimms.org.uk/wp-content/uploads/2019/02/Central-Bank-Interest-Rate-Policy-Mosler-Armstrong.pdf   Monopoly Money: The State as a Price Setter by Pavlina R. Tcherneva: http://moslereconomics.com/wp-content/uploads/2018/04/Tcherneva_MonopolyMoney_2002.pdf   Bill Mitchell - Zimbabwe for hyperventilators 101: http://bilbo.economicoutlook.net/blog/?p=3773   Warren Mosler on Paul Volcker (from 13:25): https://youtu.be/6WSQ20I1Jv4?t=809   Tickets for “An Introduction To Modern Monetary Theory: Reconceptualising The Nature Of Banking” (presentation by Phil Armstrong) on 26th March 2021, organised by Women in Banking and Finance: https://www.wibf.org.uk/events/details/modern-monetary-theory   A list of other upcoming MMT events and courses: https://www.patreon.com/posts/47531455   Phil Armstrong’s book, Can Heterodox Economics Make a Difference?: https://www.e-elgar.com/shop/gbp/can-heterodox-economics-make-a-difference-9781800370883.html   Warren Mosler’s (free) e-book, Seven Deadly Innocent Frauds Of Economic Policy: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf   Transcript for opening monologue: https://www.patreon.com/posts/47638641   We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos   Show notes: https://www.patreon.com/posts/47638591

Part 3: Patricia and Christian continue their conversation about Stephanie Kelton’s best-seller The Deficit Myth.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   Our Unpacking The Deficit Myth Series: https://www.patreon.com/posts/47191289   Our episodes with Steven Hail on understanding government bonds:  Episode 30: https://www.patreon.com/posts/29621245 Episode 31: https://www.patreon.com/posts/29829500   The Bank of England’s “Independence” - A Handy Guide: https://www.patreon.com/posts/44617543   A Discussion of Central Bank Operations and Interest Rate Policy by Warren Mosler and Phil Armstrong: https://gimms.org.uk/wp-content/uploads/2019/02/Central-Bank-Interest-Rate-Policy-Mosler-Armstrong.pdf   Some of our episodes with Warren Mosler which deal with inflation, interest rates and central bank policy: Episode 59: What Do Central Banks Do?: https://www.patreon.com/posts/39070023 Episode 80: MMT Holiday Special (part 1): https://www.patreon.com/posts/45281376 Episode 81: MMT Holiday Special (part 2): https://www.patreon.com/posts/episode-81-mmt-2-45555840   Stephanie Kelton’s introduction to MMT: “The Public Purse”   The Deficit Myth reading group questions: https://www.patreon.com/posts/39967940   A quick overview on functional finance: https://en.wikipedia.org/wiki/Functional_finance   Bill Mitchell on Abba Lerner and Functional Finance: http://bilbo.economicoutlook.net/blog/?p=5762   Tickets for “The Deficit Myth and a Green New Deal” (Stephanie Kelton in conversation with Steven Hail) on 24th February 2021: https://www.trybooking.com/events/landing?eid=711442&fbclid=IwAR0OzXT1ANRDv4L66ZZcg2wN0YNeimhZmYuwvSZI9uuDeIAX3r2q3jBJwd4   Tickets for “MMT and the new social contract: Lessons from Covid-19” (A conversation with Pavlina Tcherneva & Bill Mitchell) on 26th February 2021: https://www.eventbrite.com.au/e/mmt-and-the-new-social-contract-lessons-from-covid-19-tickets-140454277525?utm-medium=discovery&utm-campaign=social&utm-content=attendeeshare&utm-source=strongmail&utm-term=listing   Sign up for Professor Bill Mitchell’s online course in March 2021- Modern Monetary Theory: Economics for the 21st Century: https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century   Tickets for “An Introduction To Modern Monetary Theory: Reconceptualising The Nature Of Banking” (presentation by Phil Armstrong) on 26th March 2021, organised by Women in Banking and Finance: https://www.wibf.org.uk/events/details/modern-monetary-theory   Sign up for Steven Hail and the Sustainable Prosperity Action Group’s 2-day course in Adelaide April 2021 “Rethinking Capitalism”: https://sustainable-prosperity.net.au/summer-school/   Sign up for Dirk Ehnts’ online Maastricht University course "Modern Monetary Theory and European Macroeconomics”, running from 9th August - 13th August (APPLICATION DEADLINE IS JULY 26TH): https://maastricht.dreamapply.com/courses/course/134-modern-monetary-theory-and-european-macroeconomics?search=34057   Join the Real Progressives Deficit Myth book club every Tuesday at 8:30pm EST: https://zoom.us/webinar/register/WN_VlfZuk_KRZmJzOnGyBna1A   Apply for MMT Summer School in Poznań, Poland 8th-12th September 2021: https://fundacjalipinskiego.pl/wydarzenia/mmt-summer-school-2021/   Transcript for opening monologue: https://www.patreon.com/posts/47325405    We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos   Show notes: https://www.patreon.com/posts/47325194

Authors of a groundbreaking study delve into the UK Exchequer's accounting model, government spending impact on private sector, role of taxation in currency valuation, historical evolution of financial operations, mechanics of banking transactions, and MMT readiness of the UK financial system.

Author and MMT scholar Phil Armstrong talks to author of “The Case For A Job Guarantee” Professor Pavlina Tcherneva. Event organised by the Gower Initiative For Modern Money Studies.   Please help sustain this podcast: Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast Support The Gower Initiative For Modern Money Studies (GIMMS): https://gimms.org.uk/donate/ For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417 All our episodes in chronological order: https://www.patreon.com/posts/43111643 All our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846 All our episodes with Pavlina Tcherneva: https://www.patreon.com/posts/44405631   Our episode 43 with Sam Levey on endogenous money: https://www.patreon.com/posts/35073683   Our episode 55 with Dirk Ehnts on completing the Euro: https://www.patreon.com/posts/38252014   Our episode 53 with Professor L. Randall Wray: https://www.patreon.com/posts/37728507   Phil Armstrong’s book, Can Heterodox Economics Make a Difference?: https://www.e-elgar.com/shop/gbp/can-heterodox-economics-make-a-difference-9781800370883.html Pavlina Tcherneva’s book, “The Case For A Job Guarantee”: https://politybooks.com/bookdetail/?isbn=9781509542093&subject_id=4&tag_id=49 Pavlina’s Job Guarantee FAQ: https://www.pavlina-tcherneva.net/job-guarantee-faq Pavlina’s earlier articles on the Covid 19 response: https://www.project-syndicate.org/commentary/coronavirus-cash-support-job-guarantee-by-pavlina-r-tcherneva-2020-03 http://multiplier-effect.org/what-if-we-nationalized-payroll/   Transcript for opening monologue: https://www.patreon.com/posts/46691515 Show notes: https://www.patreon.com/posts/46691623

Andrew Berkeley, Richard Tye, and Neil Wilson discuss the UK Exchequer's accounting operations, government spending impact on the private sector, deficits, austerity measures, MMT, the UK monetary system, Exchequer structure, historical evolution, government bond issuance, debt management, and real resources for environmental efforts.

Author and MMT Scholar Phil Armstrong talks to professor of economics and president of the Global Institute for Sustainable Prosperity Fadhel Kaboub about how MMT insights apply to the global south, colonial reparations, the MMT Job Guarantee contrasted with Universal Basic Income, and much more. Event organised by the Gower Initiative For Modern Money Studies.   Please help sustain this podcast: Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   Support The Gower Initiative For Modern Money Studies (GIMMS): https://gimms.org.uk/donate/   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846 All our episodes with Fadhel Kaboub: https://www.patreon.com/posts/43484621   Our episode 4 with Fadhel Kaboub laying out the MMT Job Guarantee: https://www.patreon.com/posts/41742701   Our episode 35a with Fadhel Kaboub talking about MMT in the African context: https://www.patreon.com/posts/31062237   Our episode 5, featuring a discussion of UBI contrasted against the MMT Job Guarantee: https://www.patreon.com/posts/41778696   Phil’s Armstrong’s book, Can Heterodox Economics Make a Difference?: https://www.e-elgar.com/shop/gbp/can-heterodox-economics-make-a-difference-9781800370883.html   The website of The African Economic and Monetary Sovereignty initiative, includes an open letter to African states and Africa’s trading partners: http://mes-africa.org/   Follow the African Economic and Monetary Sovereignty initiative on Twitter: https://twitter.com/Mon_Sovereignty

Part 2: Patricia and Christian talk with the host of Physical Attraction podcast Thomas Hornigold about the implications of MMT as they see it.   Part 1 of this conversation: https://www.patreon.com/posts/42722165   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   Support Thomas’ Physical Attraction podcast: https://www.patreon.com/physicalattraction   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   An overview of the Job Guarantee and NAIBER concept: https://en.wikipedia.org/wiki/NAIBER   Warren Mosler’s business card analogy: https://youtu.be/t9xjxLm4Zvk   Transcript for opening monologue: https://www.patreon.com/posts/45755829   Show notes: https://www.patreon.com/posts/45756021

Part 2: Patricia and Christian ask MMT founder Warren Mosler questions written by podcast patrons.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   Part 1 of this conversation: https://www.patreon.com/posts/45281376    For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Warren Mosler: https://www.patreon.com/posts/42918786   Episode 59 - Warren Mosler: What Do Central Banks Do? https://www.patreon.com/posts/39070023   Episode 65 - Phil Armstrong: Understanding Inflation https://www.patreon.com/posts/40672678   Episode 9  - MMT Activism, The Job Guarantee And Automatic Stabilisers: https://www.patreon.com/posts/41782123   Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543   Our episode 12 on monetary sovereignty: https://www.patreon.com/posts/41790149   Our episode 55 - Dirk Ehnts: A Way Forward For The Eurozone: https://www.patreon.com/posts/38252014   Warren’s MMT white paper: https://docs.google.com/document/d/1gvDcMU_ko1h5TeVjQL8UMJW9gmKY1x0zcqKIRTZQDAQ/edit   Seven Deadly Innocent Frauds Of Economic Policy, by Warren Mosler: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf   Warren’s website: http://moslereconomics.com   Warren’s mandatory readings: http://moslereconomics.com/mandatory-readings/   The Natural Rate of Interest Is Zero, by Mathew Forstater and Warren Mosler: http://www.moslereconomics.com/wp-content/graphs/2009/07/natural-rate-is-zero.PDF   Maximizing Price Stability in a Monetary Economy by Warren Mosler & Damiano B. Silipo: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2775400   More on underconsumption: https://en.wikipedia.org/wiki/Underconsumption   Transcript for opening monologue: https://www.patreon.com/posts/45556519   Show notes: https://www.patreon.com/posts/45555840

Patricia and Christian ask MMT founder Warren Mosler questions written by patrons.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Warren Mosler: https://www.patreon.com/posts/42918786   Our episode 12 on monetary sovereignty: https://www.patreon.com/posts/41790149   Our episode 55 - Dirk Ehnts: A Way Forward For The Eurozone: https://www.patreon.com/posts/38252014   Warren’s MMT white paper: https://docs.google.com/document/d/1gvDcMU_ko1h5TeVjQL8UMJW9gmKY1x0zcqKIRTZQDAQ/edit   Seven Deadly Innocent Frauds Of Economic Policy, by Warren Mosler: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf   Warren’s website: http://moslereconomics.com   Warren’s mandatory readings: http://moslereconomics.com/mandatory-readings/   The Natural Rate of Interest Is Zero, by Mathew Forstater and Warren Mosler: http://www.moslereconomics.com/wp-content/graphs/2009/07/natural-rate-is-zero.PDF   Maximizing Price Stability in a Monetary Economy by Warren Mosler & Damiano B. Silipo: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2775400   More on underconsumption: https://en.wikipedia.org/wiki/Underconsumption   Transcript for opening monologue: https://www.patreon.com/posts/45281242   Show notes: https://www.patreon.com/posts/45281376