The MMT Podcast with Patricia Pino & Christian Reilly

Author and MMT Scholar Phil Armstrong in conversation with MMT co-founder Professor Bill Mitchell. 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/ Listen to the Australian Unemployed Workers Fight Back Podcast: https://unemployedworkersunion.com/fight-back-radio/ More on Bill Mitchell's MMTed facility, which will offer on-line, interactive tuition in Modern Monetary Theory with leading proponents of MMT: http://www.mmted.org For an intro to MMT, listen to our first three episodes: https://www.patreon.com/posts/41742417 Our Bill Mitchell episodes: https://www.patreon.com/posts/42072816 Our Phil Armstrong episodes: https://www.patreon.com/posts/42072846 Bill Mitchell on the Job Guarantee: http://bilbo.economicoutlook.net/blog/?p=40464 http://bilbo.economicoutlook.net/blog/?p=3737 Bill Mitchell on the European Union and Brexit: http://bilbo.economicoutlook.net/blog/?p=33876 Transcript for opening monologue: https://www.patreon.com/posts/42076057

Part 2: Patricia and Christian talk 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 Our first three episodes: https://www.patreon.com/posts/41742417 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 Our episodes with Sam Levey about War Bonds: Episode 32: https://www.patreon.com/posts/30005574 Episode 33: https://www.patreon.com/posts/30112818 Stephanie Kelton's "green dollar, yellow dollar" explanation of government bonds (but in pink!) starts at 19:49: https://youtu.be/c6ss3p4jjI4 Dr Steven Hail's introductory article, "Explainer: what is modern monetary theory?": https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Stephanie Kelton's introduction to MMT: "The Public Purse" Seven Deadly Innocent Frauds Of Economic Policy by Warren Mosler: http://www.moslereconomics.com/wp-content/powerpoints/7DIF.pdf Our two-part interview with Warren Mosler: https://www.patreon.com/posts/28004824 https://www.patreon.com/posts/28142083 The Deficit Myth reading group questions: https://www.patreon.com/posts/39967940 Part 1 of our Unpacking The Deficit Myth series: https://www.patreon.com/posts/39964869 Transcript for opening monologue: https://www.patreon.com/posts/41893376

Phil Armstrong, an author and MMT scholar, dives into the intricate world of inflation, challenging popular misconceptions. He discusses how true inflation isn't solely about expanding the money supply but is influenced by various factors, including government policies. Armstrong also critiques central banking methods and considers historical instances of hyperinflation, like that of the Weimar Republic. Additionally, he explores the mechanics of monetary systems and the significance of a job guarantee in striving for full employment.

Join Professor John T Harvey, known as the Cowboy Economist, as he navigates the often-mundane world of exchange rate theory with humor and insight. He critiques traditional economic frameworks, revealing their shortcomings in explaining currency fluctuations. Discover the dynamic differences between currency devaluation and depreciation, and explore how military spending ties into broader economic issues. With a touch of post-Keynesian analysis, Harvey discusses the implications of Modern Monetary Theory on global finance and economic competitiveness.

Author and MMT scholar Phil Armstrong gives a presentation on MMT basics and applies the insights to economic challenges ahead. Event organised by the Gower Initiative For Modern Money Studies. Support The Gower Initiative For Modern Money Studies (GIMMS): https://gimms.org.uk/donate/ Support this podcast: https://www.patreon.com/MMTpodcast Our episodes on understanding government bonds: https://www.patreon.com/posts/29621245 https://www.patreon.com/posts/29829500 Our episodes with Phil Armstrong: https://www.patreon.com/posts/36619334 https://www.patreon.com/posts/36846931 Bill Mitchell on his meeting with John McDonnell: http://bilbo.economicoutlook.net/blog/?p=40562 Transcript for opening monologue: https://www.patreon.com/posts/40250343

Patricia and Christian talk about Stephanie Kelton's best-seller The Deficit Myth. Please help sustain this podcast by donating to our Patreon! Patrons get early access to our episodes and other patron-only content: https://www.patreon.com/MMTpodcast TICKETS FOR GIMMS MMT EVENT with Phil Armstrong 8th August 2020: https://gimms.org.uk/event/the-post-covid-economy/ Dr Steven Hail's introductory article, "Explainer: what is modern monetary theory?": https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Stephanie Kelton's introduction to MMT: "The Public Purse" Seven Deadly Innocent Frauds Of Economic Policy by Warren Mosler: http://www.moslereconomics.com/wp-content/powerpoints/7DIF.pdf Our two-part interview with Warren Mosler: https://www.patreon.com/posts/28004824 https://www.patreon.com/posts/28142083 Our episodes on monetary sovereignty with Dr Fadhel Kaboub: https://www.patreon.com/posts/31062237 https://pileusmmt.libsyn.com/12-fadhel-kaboub-monetary-sovereignty-colonialism-and-independence The Deficit Myth reading group questions: https://www.patreon.com/posts/39967940 Transcript for opening monologue: https://www.patreon.com/posts/39967528

Patricia and Christian talk to Professor Richard Murphy about monetary operations, tax justice, and the UK government's standoff with the NHS regarding finances. Please help sustain this podcast by donating to our Patreon! Patrons get early access to our episodes and other patron-only content: https://www.patreon.com/MMTpodcast Richard's articles: Some basic lessons for the Governor of the Bank of England, who seems to be in dire need of them: https://www.taxresearch.org.uk/Blog/2020/06/23/some-basic-lessons-for-the-governor-of-the-bank-of-england-who-seems-to-be-in-dire-need-of-them/ At long last the government can borrow straight from the Bank of England – as modern monetary theory has always suggested it should: https://www.taxresearch.org.uk/Blog/2020/03/23/at-long-last-the-government-can-borrow-straight-from-the-bank-of-england-as-modern-monetary-theory-has-always-suggested-it-should/ Modern monetary theory says that the state has the ability to create and maintain the value in money and most left of centre economists appear to be repulsed by that: https://www.taxresearch.org.uk/Blog/2020/06/14/modern-monetary-theory-says-that-the-state-has-the-ability-to-create-and-maintain-the-value-in-money-and-most-left-of-centre-economists-appear-to-be-repulsed-by-that/ Randy Wray on modern monetary theory and tax: https://www.taxresearch.org.uk/Blog/2019/10/15/randy-wray-on-modern-monetary-theory-and-tax/ From modern monetary theory to modern taxation theory: a debate to be had: https://www.taxresearch.org.uk/Blog/2019/10/07/from-modern-monetary-theory-to-modern-taxation-theory-a-debate-to-be-had/ Richard's youtube channel: https://www.youtube.com/channel/UCGlMOIZ1A3zluwLXTGpzZfw Our Job Guarantee / Transition Job episodes: Ep 4 (with Fadhel Kaboub): https://pileusmmt.libsyn.com/what-is-the-job-guarantee Ep 47 (with Pavlina Tcherneva): https://www.patreon.com/posts/36034543 Transcript of opening monologue: https://www.patreon.com/posts/39766883

Patricia and Christian talk to writer and research director for the Modern Money Network Nathan Tankus about the Great Financial Crisis of 2007/2008 and our current crises. Please help sustain this podcast by donating to our Patreon! Patrons get early access to our episodes and other patron-only content: https://www.patreon.com/MMTpodcast Support Nathan's work: https://nathantankus.substack.com/p/im-turning-notes-on-the-crises-into Nathan's articles: Is There Really A "Looming Bank Collapse?": https://nathantankus.substack.com/p/is-there-really-a-looming-bank-collapse When Americans Don't Riot, Politicians Feel Unrestrained: https://prospect.org/civil-rights/when-americans-dont-riot-politicians-feel-unrestrained/ The Federal Reserve's Coronavirus Crisis Actions, Explained (Part 7): https://nathantankus.substack.com/p/the-federal-reserves-coronavirus-468 Transcript of opening monologue: https://www.patreon.com/posts/39517212

Patricia and Christian talk to MMT founder Warren Mosler about quantitative easing, interest rates, inflation and all things MMT in the current context. Please help sustain this podcast by donating to our Patreon! Patrons get early access to our episodes and other patron-only content: https://www.patreon.com/MMTpodcast Transcript of intro to episode 50, for brief explanation of how government bond sales are used to maintain interest rates: https://www.patreon.com/posts/36851479 Full audio of episode 50: https://www.patreon.com/posts/36846931 Episodes 20 and 21, our first interview with Warren, laying some of the basics of MMT: https://www.patreon.com/posts/28004824 , https://www.patreon.com/posts/28142083 Warren's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Warren's book, Seven Deadly Innocent Frauds Of Economic Policy (chapter 5, mentioned in the interview, starts on p59): https://www.moslereconomics.com/wp-content/powerpoints/7DIF.pdf Warren's Pompeii story is in this episode (ep 28): https://www.patreon.com/posts/29265974 Transcript of opening monologue: https://www.patreon.com/posts/39070577

In this engaging conversation, John T Harvey, known as the Cowboy Economist and author of Contending Perspectives In Economics, dives deep into the world of economic thought. He critiques mainstream economics and highlights the shortcomings of traditional models, advocating for a more realistic approach to monetary policy. Harvey discusses the complexities of currency issuance and challenges the ideologies behind austerity measures. He also explores how cultural contexts shape economic interactions and the evolving discourse surrounding Modern Monetary Theory, emphasizing communication's vital role.