Modern Money Theory

A Simple Guide to the Monetary System

by Dirk Ehnts (publ. 6 Apr 2024) Buy

Book contents

  1. Introduction
  2. The Biden Administration and the Copernican Turn
    2.1 Can the Federal Government Run Out of Money?
    2.2 Political Constraints of Government Spending
    2.3 Government Spending, the Public Deficit, and Inflation
    2.4 Monetary Policy, Inflation, and Financial Instability
  3. The Paper Currency of Virginia (1760s) and Its Lessons
    3.1 Provisioning the State and Money Printing
    3.2 Tax Revenues Are not “Financing” the Government
    3.3 Drafting a Federal Budget
  4. Modern Money Theory as Part of Economics
    4.1 The Failing Monetary Policy of Inflation Targeting
    4.2 Government Spending
    4.3 Government Bonds
    4.4 International Trade
    4.5 Sectoral Balances, Exchange Rates, and Unit Labor Costs
  5. What is Economic Policy?
    5.1 Theory and Practice
    5.2 The Circular Flow of Income
    5.3 The Modern Business Cycle
    5.4 Banking and Banking Regulation
  6. Economic Policies Based on MMT
    6.1 How Do We Ensure Full Employment?
    6.2 How Do We Ensure Price Stability?
    6.3 The Job Guarantee
    6.4 Industrial Policy
    6.5 A Green New Deal
    6.6 Inequality and Climate Justice
    6.7 An Economic Bill of Rights for the Twenty-first Century
  7. Outlook
    Literature
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