The MMT Podcast with Patricia Pino & Christian Reilly

Economists Prue Plumridge, Claire Jackson-Prior, Neil Wilson, and Phil Armstrong discuss Modern Monetary Theory, government spending, societal impact, budgeting dynamics, currency instability, public sector rewards, tax efficiency, and rethinking economic strategies for national growth.

With expert guidance from economist and “MMT Essentials” author, Dr Dirk Ehnts, Patrica and Christian fill the gaps in reporting on the World Economic Forum’s annual greenwashing festival in Davos, where critics of the Biden administration’s kitten-weak climate bill (the Inflation Reduction Act) warn it gives *too much* assistance to green initiatives. And, as US Republican efforts are underway to cancel already-appropriated federal spending with yet another mendaciously confected debt ceiling drama, the discussion emphasises the importance of understanding the difference between your debt and the government’s so-called “debt”.   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: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Dirk Ehnts: https://www.patreon.com/posts/44467243 Dirk Ehnts’ website: https://www.dirk-ehnts.de/ Dirk Ehnts on Twitter: https://twitter.com/DEhnts   Relevant to this episode: On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/ For more on the interplay between commercial bank money (deposits) and central bank money (reserves), listen to our Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 For more on the Job Guarantee as buffer-stock policy to achieve superior price stability to our current system, listen to our episode 125 - Sam Levey: Monopoly, Monopsony, And What To Do About Them: https://www.patreon.com/posts/61954971 Apply for Dr Dirk Ehnts’ Modern Monetary Theory and European Macroeconomics course at Maastricht University (July 31st - August 4th): https://maastricht.dreamapply.com/courses/course/183-modern-monetary-theory-and-european-macroeconomics   Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   For a short, non-technical, free ebook explaining MMT, download MMT founder Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf   Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers” (2023) here: https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true   Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/   MMT events and courses in 2023 Apply for Professor Bill Mitchell’s short, free online course in Modern Monetary Theory (February 15th - March 14th) here: https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century More information about Professor Mitchell’s MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Tickets to the very first Scotonomics festival (online or in-person, Dundee, Scotland 24th-26th March) are available here: https://scotonomics.scot/live-events/ Apply for Dr Dirk Ehnts’ Modern Monetary Theory and European Macroeconomics course at Maastricht University (July 31st - August 4th) here: https://maastricht.dreamapply.com/courses/course/183-modern-monetary-theory-and-european-macroeconomics Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   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/77672342

Patrica and Christian talk to economist and co-author of the just-published “Modern Monetary Theory - Key Insights, Leading Thinkers” Dr Phil Armstrong about why mainstream economists think unemployment is good, why Rishi Sunak and Keir Starmer’s proposals to make the UK more prosperous by starving it of investment might be misguided, and what useful economics might look like.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   Order “Modern Monetary Theory - Key Insights, Leading Thinkers” here: https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html   For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846 Phil Armstrong on Twitter: https://twitter.com/PhilArmstrong58     Relevant to this episode: "The Natural Rate of Interest Is Zero” by Mathew Forstater and Warren Mosler: http://moslereconomics.com/wp-content/graphs/2009/07/natural-rate-is-zero.PDF     Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   For a short, non-technical, free ebook explaining MMT, download MMT founder Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true   Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346   Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/   MMT events and courses in 2023 Tickets to the very first SCOTONOMICS festival (online or in-person, Dundee, Scotland 24th-26th March) are available here: https://scotonomics.scot/live-events/ Information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/     A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   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/77409078?pr=true

MMT founder Warren Mosler answers listeners’ questions on topics including: how governments spend, the role of taxation, government bond issuance, central banking, commercial banking, interest rates, exchange rates, inflation, the NHS, the MMT Job Guarantee, the Eurozone and more.   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: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643     Relevant to this episode: “The 7 Deadly Innocent Frauds Of Economic Policy” by Warren Mosler: http://moslereconomics.com/wp-content/uploads/2020/11/Seven-Deadly-Innocent-Frauds-of-Warren-Mosler.pdf “Soft Currency Economics” by Warren Mosler: http://moslereconomics.com/wp-content/uploads/2022/10/Soft-Currency-Economics-October-2022.pdf “Full Employment AND Price Stability” by Warren Mosler: http://moslereconomics.com/wp-content/uploads/2019/02/Full-Employment-AND-Price-Stability.pdf Dr Dirk Ehnts on the ECB and the Eurosystem at 35:14 in this episode: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/72906421?pr=true For an explanation of the terms NAIRU (Non-accelerating inflation rate of unemployment) and NAIBER (non-accelerating inflation buffer employment ratio), see here: https://en.wikipedia.org/wiki/NAIBER Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: https://neweconomicperspectives.org/2010/02/warren-moslers-proposals-for-treasury.html “Rites Of Passage” — Warren Mosler’s 2001 essay on the euro: http://moslereconomics.com/2010/05/03/my-euro-essay-from-2001/       More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346   Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/     Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/   Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   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/76781145?pr=true

Patricia and Christian talk to economist and author Dr Dirk Ehnts about the false-but-folksy economic premises behind Chancellor Jeremy Hunt’s Autumn Statement, the difference between currency users and currency issuers, why government borrowing isn’t really borrowing, why taxes are important (but not for the reasons many think) and help climate envoy John Kerry discover which government in the world has trillions of dollars.   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: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Dirk Ehnts: https://www.patreon.com/posts/44467243   Dirk Ehnts on Twitter: https://twitter.com/DEhnts Dirk Ehnts’ Website: https://www.dirk-ehnts.de/en-us/ Dirk Ehnts on Mastodon: https://econtwitter.net/@DirkEhnts@mastodon.social   Patricia Pino on Mastodon: https://econtwitter.net/@patriciapino   Relevant to this episode: Stephanie Kelton’s “green dollar / yellow dollar" explanation of government bonds (except she uses small pink pieces of paper for dollars and big pink pieces of paper for bonds) starts at 19:49: https://youtu.be/c6ss3p4jjI4   More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346   Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/     Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/   Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   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/75038084

In anticipation of Chancellor Jeremy Hunt’s Autumn Statement, Patricia and Christian talk to economist and author Dr Phil Armstrong about currency crises, inflation, the shortcomings of monetary policy, the national (so-called) debt, the Office for Budget “Responsibility”, and what economic opposition might look like.   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: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846 Phil Armstrong on Twitter: https://twitter.com/PhilArmstrong58   Phil Armstrong: “Can Heterodox Economics Make A Difference?”: https://www.e-elgar.com/shop/gbp/can-heterodox-economics-make-a-difference-9781800370883.html           Relevant to this episode: “Is exchange rate depreciation inflationary?” by Professor Bill Mitchell: http://bilbo.economicoutlook.net/blog/?p=32922 Phil Armstrong’s Chapter on conservation of saving is in "Contemporary Issues in Heterodox Economics”: https://www.routledge.com/Contemporary-Issues-in-Heterodox-Economics-Implications-for-Theory-and/Hermann-Mouatt/p/book/9780367509101   More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/     Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/   Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   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/74755372?pr=true

Patricia and Christian talk to financial consultant and author Brian Romanchuk about how the UK’s recent pension fund crisis impacted  the gilt and mortgage markets, the significance of currency price shifts, banks as credit risk intermediaries, the Swedish Central Bank’s Prize in Economic Sciences, and what to do about so-called “bond vigilantes”.   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: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   Brian Romanchuk’s blog: http://www.bondeconomics.com/ Brian Romanchuk’s books: http://www.bondeconomics.com/p/books.html Brian Romanchuk on Twitter: https://twitter.com/RomanchukBrian   More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/   Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/ Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/ A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757 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 Transcript for opening monologue: https://www.patreon.com/posts/74382368?pr=true   Show notes: https://www.patreon.com/posts/74382539?pr=true

Edited highlights of Professor Yeva Nersisyan’s presentation on financing the Green New Deal from this year’s Levy Economics Institute Summer Seminar.   Video of this event: https://youtu.be/6qZNN96Ggs8     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: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   Relevant to this presentation: “How to Pay for the Green New Deal” by L. Randall Wray & Yeva Nersisyan: https://www.levyinstitute.org/pubs/wp_931.pdf Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558 Episode 53 - L. Randall Wray: MMT And The Green New Deal: https://www.patreon.com/posts/37728507 Episode 32 - Sam Levey: How Uncle Sam Paid For World War II (part 1): https://www.patreon.com/posts/30005574 Episode 33 - Sam Levey: How Uncle Sam Paid For World War II (part 2): https://www.patreon.com/posts/30112818 Episode 76 - Sam Levey: MMT For Mainstream Economists And Mobilisation Theory (part 1): https://www.patreon.com/posts/43697752 Episode 77 - Sam Levey: MMT For Mainstream Economists And Mobilisation Theory (part 2): https://www.patreon.com/posts/43886189        Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/       More about the 2nd African Economic and Monetary Sovereignty conference (25-28 October): https://mes-africa.org/about-event/   Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/   Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   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   Transcript for opening monologue: https://www.patreon.com/posts/73776088?pr=true   Show notes: https://www.patreon.com/posts/73776144?pr=true

Patricia and Christian talk about Jeremy Hunt’s appointment as UK chancellor and his upcoming medium-term fiscal plan.   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: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   Relevant to this conversation: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true Episode 110 - L. Randall Wray: Are We Living In An MMT World?: https://www.patreon.com/posts/54750022   Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    More on quantitative easing: Episode 59 - Warren Mosler: What Do Central Banks Do?:https://www.patreon.com/posts/39070023 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true   Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   More about the 2nd African Economic and Monetary Sovereignty conference (25-28 October): https://mes-africa.org/about-event/   Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/   Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   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   Transcript for opening monologue: https://www.patreon.com/posts/73522077?pr=true   Show notes: https://www.patreon.com/posts/73522148?pr=true

Edited highlights of Professor Pavlina Tcherneva’s presentation on the MMT Job Guarantee from this year’s Levy Economics Institute Summer Seminar.   Video of this event: https://youtu.be/zzqVCiUw7L4     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: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All of our episodes with Pavlina Tcherneva: https://www.patreon.com/posts/44405631   Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/   Quick MMT reads: Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/   Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543   Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558     Details of Modern Money Lab’s online graduate and postgraduate courses in MMT: https://modernmoneylab.org.au/   Sign up for alerts from The Gower Initiative For Modern Money Studies about their forthcoming MMT book: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   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   Transcript for opening monologue: https://www.patreon.com/posts/73211282   Show notes: https://www.patreon.com/posts/73211346?pr=true