The MMT Podcast with Patricia Pino & Christian Reilly

To commemorate the anniversary of Trussonomic Mini-budgeting, Christian talks to Professor John T. Harvey about what determines currency prices and more.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our patron-only episodes: https://www.patreon.com/posts/57542767

LIVE EVENTS!

• Economics Of The Real World (Edinburgh, Scotland 21st March 2024): https://scotonomics.scot/live-events/
• Scotonomics Festival Of Economics (Dundee, Scotland 22-24th March 2024): https://scotonomics.scot/live-events/

Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers": https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html

Relevant to this episode:

• All our episodes with John T. Harvey: https://www.patreon.com/posts/44371783
• John's Cowboy Economist channel: https://www.youtube.com/@cowboyeconomist8126
• John's Forbes blog: https://www.forbes.com/sites/johntharvey/?sh=4ec648f3685c
• "Taxes For Revenue Are Obsolete" by Beardsley Ruml: https://realprogressives.org/taxes-for-revenue-are-obsolete/
• "Money Growth Does Not Cause Inflation!" by John T Harvey: https://realprogressives.org/money-growth-does-not-cause-inflation/
• Our episodes with Dr Sam Levey about war mobilisation: Episode 32 -How Uncle Sam Paid For World War II (part 1): https://www.patreon.com/posts/30005574, (part 2) https://www.patreon.com/posts/30112818, Episode 76: MMT For Mainstream Economists And Mobilisation Theory (part 1): https://www.patreon.com/posts/43697752, (part 2): https://www.patreon.com/posts/43886189

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

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
• Quick explanation of government debt and deficit: "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 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

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses:

• More 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/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/89667799?pr=true

Patricia & Christian conclude 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

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our patron-only episodes: https://www.patreon.com/posts/57542767

LIVE EVENTS!

• "Rethinking Capitalism" weekend event with Dr Steven Hail (Canberra, 26th-27th August): https://modernmoneylab.org.au/events/
• Sign up to the Gower Initiative For Modern Money Studies' mailing list for updates about their event with Warren Mosler in London on 1st September (details TBC): https://gimms.org.uk/mailing-list/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

Relevant to this episode:

• Our "Unpacking The Deficit Myth" series: https://www.patreon.com/posts/47191289
• For more on MMT and the NHS/Medicare4All, listen to: Episode 42 - John T Harvey: The NHS And Healthcare Economics: https://www.patreon.com/posts/33460238 and Episode 96 - Deborah Harrington: The Fight For The NHS: https://www.patreon.com/posts/49819223
• For more on MMT and ecological economics, listen to: Episode 39c - Steven Hail - Green Economics, A Just Transition and The 2020 Sustainable Prosperity Conference https://www.patreon.com/posts/32431123, Episode 108 - Steven Hail & Gabrielle Bond: Achieving Sustainable Prosperity: https://www.patreon.com/posts/54178535, Episode 172 - Steven Hail: Bond Vigilantes! Inflation! The National Debt! The Excuseonomics Killing The Planet: https://www.patreon.com/posts/84572294?pr=true, Episode 138 - Stephen Williams: Economics vs The Planet: https://www.patreon.com/posts/69831268?pr=true, Episode 140 - Michael Hoexter: Hard Money Ideology Won't Save The Planet: https://www.patreon.com/posts/70471081?pr=true and Episode 141 - Phil Lawn: On Ecological Economics: https://www.patreon.com/posts/70826821?pr=true
• For more on Overt Monetary Financing, read "Overt Monetary Financing – again", by Bill Mitchell: https://billmitchell.org/blog/?p=32361
• For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around - listen to episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887, 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 and episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683
• For more on the MMT Job Guarantee, see "Our Job Guarantee episodes" (below).
• For more on MMT and inflation, see "Episodes on inflation" (below)

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

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
• Quick explanation of government debt and deficit: "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 Warren Mosler's "7 Deadly Innocent Frauds Of Economic Policy" here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf

Order "The Deficit Myth" by Stephanie Kelton: https://www.amazon.co.uk/gp/product/B081JVRT57/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0

Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers" (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html

Order L Randall Wray's latest book, "Making Money Work for Us" (2022): https://www.amazon.co.uk/gp/product/B0BDCS46BG/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses In 2023:

• More 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/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/86849221?pr=true

As opposition politicians lecture their constituents about not loving growth enough, and vow to keep children in poverty to achieve it, Patricia & Christian talk to award-winning economist and author of "Money For Beginners - An Illustrated Guide" Professor L. Randall Wray about how governments spend and the legacy of 40 years of ignoring it.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our patron-only episodes: https://www.patreon.com/posts/57542767

LIVE EVENTS!

• Rethinking Capitalism weekend (Canberra, 26th - 27th August): https://modernmoneylab.org.au/events/
• Sign up to the Gower Initiative For Modern Money Studies' mailing list for updates about their event with Warren Mosler in London on 1st September (details TBC): https://gimms.org.uk/mailing-list/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

Relevant to this episode:

• All our episodes with L. Randall Wray: https://www.patreon.com/posts/44467066
• Books By L. Randall Wray: https://www.amazon.co.uk/kindle-dbs/entity/author/B001HP7OPG
• Papers By L. Randall Wray: https://www.levyinstitute.org/publications/l-randall-wray
• Public sector pay rises of 10% would add little to inflation, says UK thinktank: https://www.dumptheguardian.com/society/2023/jul/18/sector-pay-rises-10-per-cent-add-little-to-inflation-uk-thinktank-ippr-rishi-sunak
• For more on MMT-informed perspectives on the euro, listen to: Episode 55 - Dirk Ehnts: A Way Forward For The Eurozone: https://www.patreon.com/posts/38252014 , Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/72906421?pr=true and Episode 160 - Stuart Medina Miltimore: The Euro Is The Problem: https://www.patreon.com/posts/79507827?pr=true
• For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 and episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683
• For more on why government bond issuance (so-called government "borrowing") does not "crowd out" private sector investment under a floating exchange rate currency regime, listen to episode 142 - Every Deficit Is Good For Someone: https://www.patreon.com/posts/71264759?pr=true
• For more on the MMT Job Guarantee, see "Our Job Guarantee episodes" (below).

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

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
• Quick explanation of government debt and deficit: "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 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): 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

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses In 2023:

• More 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/
• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/86526849?pr=true

Patricia & Christian talk to economist, author and one of the organisers of the 2023 European MMT conference (September 9th & 10th, details below) Dr Dirk Ehnts about Bidenomics, Britain's bankrupt water utilities, and how understanding the plumbing of modern money is vital to bringing about a just and green energy transition in the face of multiple crises facing the world today.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our patron-only episodes: https://www.patreon.com/posts/57542767

LIVE EVENTS!

• Rethinking Capitalism weekends (Sydney 22nd and 23rd July, Canberra 26th and 27th August): https://modernmoneylab.org.au/events/
• Sign up to the Gower Initiative For Modern Money Studies' mailing list for updates about their event with Warren Mosler in London on 1st September (details TBC): https://gimms.org.uk/mailing-list/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

Relevant to this episode:

• 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
• For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around - sometimes called "Wicksellian money" after Knut Wicksell), listen to episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 and episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683
• For more on why government bond issuance (so-called government "borrowing") does not "crowd out" private sector investment under a floating exchange rate currency regime, listen to episode 142 - Every Deficit Is Good For Someone: https://www.patreon.com/posts/71264759?pr=true
• For more on the MMT Job Guarantee, see "Our Job Guarantee episodes" (below).

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

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
• Quick explanation of government debt and deficit: "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 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): 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

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses In 2023:

• More 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/
• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/85988155?pr=true

Patricia & Christian talk to Kremer Endowed Chair of Economics at Willamette University, Professor Yan Liang about China's economy, international trade, sovereign wealth funds, de-dollarisation, and more.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our patron-only episodes: https://www.patreon.com/posts/57542767

LIVE EVENTS!

• Rethinking Capitalism weekends (Sydney 22nd, 23rd July and Canberra 26th, 27th August): https://modernmoneylab.org.au/events/
• Sign up to the Gower Initiative For Modern Money Studies' mailing list for updates about their event with Warren Mosler in London on 1st September (details TBC): https://gimms.org.uk/mailing-list/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

Relevant to this episode:

• Yan Liang on Twitter: https://twitter.com/YanLian31677392
• For more on international trade through the MMT lens, listen to episode 158 - "Winning" At Trade: https://www.patreon.com/posts/78800108?pr=true
• For more on Warren's Mosler's view that prices paid by government are the source of the price level, listen to episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379
• For more on inflation see our episodes on inflation (below)
• Our two-part interview with Steven Hail explaining the terminology and the mechanics of government bonds: Episode 30 - Understanding Government Bonds (Part 1): https://www.patreon.com/posts/29621245 and episode 31 - Understanding Government Bonds (Part 2):https://www.patreon.com/posts/29829500

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

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
• Quick explanation of government debt and deficit: "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 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): 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

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses In 2023:

• More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/
• 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/
• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/85584105?pr=true

As the Bank of England plays one-club golf with interest rates, (using the wrong end of the golf club while dressed in scuba gear) Patricia & Christian talk to economist and author of "Can Heterodox Economics Make A Difference?" Dr Phil Armstrong about changing the game.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our patron-only episodes: https://www.patreon.com/posts/57542767

Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers" (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html

LIVE EVENTS!

• Rethinking Capitalism weekends (Sydney 22nd, 23rd July and Canberra 26th, 27th August): https://modernmoneylab.org.au/events/
• Sign up to the Gower Initiative For Modern Money Studies' mailing list for updates about their event with Warren Mosler in London on 1st September (details TBC): https://gimms.org.uk/mailing-list/
• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th): https://www.mmtconference.eu/
• 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

Relevant to this episode:

• All our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846
• Phil on Twitter: https://twitter.com/PhilArmstrong58
• For more on inflation see our episodes on inflation (below)
• Our two-part interview with Steven Hail explaining the terminology and the mechanics of government bonds: Episode 30 - Understanding Government Bonds (Part 1): https://www.patreon.com/posts/29621245 and episode 31 - Understanding Government Bonds (Part 2):https://www.patreon.com/posts/29829500
• For more on Warren's Mosler's view on interest rates, and how central bank base rate rises likely have an inflationary bias, listen to Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513
• For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 and episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683

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

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
• Quick explanation of government debt and deficit: "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 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

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses In 2023:

• More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/
• 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/
• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/85216072?pr=true

Patricia & Christian talk to MMT founder Warren Mosler about bond markets, Beyoncéflation and degrowing the financial sector.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our patron-only episodes: https://www.patreon.com/posts/57542767

Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers" (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html

LIVE EVENTS!

• Rethinking Capitalism weekends (Sydney 22nd, 23rd July and Canberra 26th, 27th August): https://modernmoneylab.org.au/events/
• Sign up to the Gower Initiative For Modern Money Studies' mailing list for updates about their event with Warren Mosler in London on 1st September (details TBC): https://gimms.org.uk/contact/
• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

Relevant to this episode:

• All our episodes with Warren Mosler: https://www.patreon.com/posts/42918786
• Warren on Twitter: https://twitter.com/wbmosler
• Warren's website: https://moslereconomics.com/
• Our two-part interview with Steven Hail explaining the terminology and the mechanics of government bonds: Episode 30 - Understanding Government Bonds (Part 1): https://www.patreon.com/posts/29621245 and episode 31 - Understanding Government Bonds (Part 2):https://www.patreon.com/posts/29829500
• For more on Warren's view on interest rates, and how central bank base rate rises likely have an inflationary bias, listen to Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513
• For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 and episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683
• Two articles on Warren's visit to Argentina in May 2022, with links to presentations: https://gimms.org.uk/2022/05/16/journey-to-the-heart-of-argentina/ , https://www.redmmt.es/warren-mosler-talks-with-grupo-bolivar-in-argentina-english-parts-only/

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

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
• Quick explanation of government debt and deficit: "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 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

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses In 2023:

• More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/
• 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/
• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/84857445?pr=true

Patricia & Christian talk to economist and founder of the ground-breaking Modern Money Lab project Professor Steven Hail about the urgency of a swift and just transition to a sustainable economy and examine some of the excuses politicians selectively employ to avoid policymaking as if people and the planet matter.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our patron-only episodes: https://www.patreon.com/posts/57542767

Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers" (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html

LIVE EVENTS!

• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/
• To attend James K. Galbraith's Keynote Lecture, (June 15th, 2023, 1-2:30pm ET) RSVP at the bottom of this page: https://edi.bard.edu/events/

Relevant to this episode:

• All our episodes with Steven Hail: https://www.patreon.com/posts/43083051
• Find out more about Modern Money Lab courses and "Rethinking Capitalism" events here: https://modernmoneylab.org.au/events/
• Our two-part interview with Steven explaining the terminology and the mechanics of government bonds: Episode 30 - Understanding Government Bonds (Part 1): https://www.patreon.com/posts/29621245 and episode 31 - Understanding Government Bonds (Part 2):https://www.patreon.com/posts/29829500
• Steven mentions Warren Mosler's view on interest rates, and how central bank base rate rises likely have an inflationary bias. For more on that listen to Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513
• For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 and episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683
• Steven mentions the dubious theory that interest rate hikes fight inflation by creating an expectation that inflation will fall (I know, right?) Turns out expectations converge to reality, and not the other way around, as L. Randall Wray explains in episode 163: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true

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

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
• Quick explanation of government debt and deficit: "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 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

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses In 2023:

• More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/
• 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/
• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/84572294?pr=true

Patricia & Christian talk to economist and author of "The Case For A Job Guarantee" Professor Pavlina Tcherneva about her chapter in the recently-published "MMT: Key Insights, Leading Thinkers".

Three Lessons From Government Spending And The Post-Pandemic Recovery: (1) The funding is always there. (2) Unemployment is a policy choice. (3) Large government spending is not the inevitable source of inflation.

Also under discussion: the US debt ceiling drama, Universal Basic Income and more.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast

All our episodes in chronological order: https://www.patreon.com/posts/43111643

All our patron-only episodes: https://www.patreon.com/posts/57542767

Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers" (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html

LIVE EVENTS!

• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/
• To attend James K. Galbraith's Keynote Lecture, (June 15th, 2023, 1-2:30pm) RSVP at the bottom of this page: https://edi.bard.edu/events/

Relevant to this episode:

• All our episodes with Pavlina Tcherneva: https://www.patreon.com/posts/44405631
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/
• Christian mentions Pavlina's lecture where she describes the "original sin" of money systems (that they necessarily create unemployment). That's in this episode, along with the route to "redemption" - Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346
• Pavlina mentions the NAIRU (Non-accelerating inflation rate of unemployment). More here: https://en.wikipedia.org/wiki/NAIRU

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

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
• Quick explanation of government debt and deficit: "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 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

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses In 2023:

• More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/
• 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/
• Details of the MMT Summer school in Poznań, Poland (September 5th-7th): https://fundacjalipinskiego.pl/wydarzenia/mmt-3rd-summer-school-in-poznan/
• Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: https://www.mmtconference.eu/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/84268974?pr=true

Patricia & Christian talk to acclaimed author and activist Cory Doctorow, about his new crypto heist thriller "Red Team Blues", and the real-world money mechanics and shady shenanigans that inform the story.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast

Order "Red Team Blues" here: https://craphound.com/shop/

LIVE EVENT! Christian will be interviewing Cory Doctorow in Nottingham (UK!) on Tuesday 30th May 2023, tickets here: https://www.waterstones.com/events/an-evening-with-cory-doctorow/nottingham

All our episodes in chronological order: https://www.patreon.com/posts/43111643

Patron-only episodes: https://www.patreon.com/posts/57542767

Patron-only GIMMS Book Launch Presentations [audio]:

• Daniel Kostzer on Argentina's "Jefes de Hogar" Public Employment Programme: https://www.patreon.com/posts/gimms-book-on-de-82501900
• Phil Armstrong On Useful Economists: https://www.patreon.com/posts/gimms-book-phil-82502071
• Neil Wilson On How The Government Spends: https://www.patreon.com/posts/gimms-book-neil-82502270

Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers" (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html

Relevant to this episode:

• All our episodes with Cory Doctorow: https://www.patreon.com/posts/41970049
• Cory's podcast: https://craphound.com/podcast/
• Cory's upcoming live events: https://craphound.com/category/redteamblues/
• We talk a little more in-depth about crypto tokens as "proof of work" and "proof of stake" in this episode: Episode 135 - Cory Doctorow: Blockchain, Bitcoin & Selling The Brooklyn Bridge: https://www.patreon.com/posts/68946334
• "The Inevitability of Trusted Third Parties" by Cory Doctorow: https://onezero.medium.com/the-inevitability-of-trusted-third-parties-a51cbcffc4e2
• Cory mentions previous guest Daniel Kostzer likening capitalism to a car with no steering wheel being driven at high speed down a road - that's from this episode: https://www.patreon.com/posts/episode-169-job-82743393
• Cory mentions the inspirational economist and teacher Dr Fadhel Kabuob - here are all our episodes with him: https://www.patreon.com/posts/43484621
• Cory mentions our episode on tally sticks and the history of UK exchequer with Richard Tye. It's great! Have a listen here: https://www.patreon.com/posts/episode-167-tye-81601103
• "Tiktok's enshittification" by Cory Doctorow: https://pluralistic.net/2023/01/21/potemkin-ai/

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

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
• Quick explanation of government debt and deficit: "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 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

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
• Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/

Episodes 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

More on Silicon Valley Bank and bank runs:

• Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true
• Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true
• Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true
• MMT founder 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

MMT Events And Courses In 2023:

• More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/
• 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/
• Details of the next MMT Summer school in Poznań, Poland (September 5th-7th) will be available on this page when confirmed: https://fundacjalipinskiego.pl/wydarzenia/
• Website of the 3rd International European MMT Conference (September 9th-10th: https://www.mmtconference.eu/

MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies

MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship

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/83036883?pr=true