Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems
Autor L. Randall Wrayen Limba Engleză Paperback – 22 sep 2015
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Specificații
ISBN-13: 9781137539908
ISBN-10: 1137539909
Pagini: 306
Ilustrații: XVI, 306 p. 12 illus.
Dimensiuni: 140 x 216 x 23 mm
Greutate: 0.45 kg
Ediția:Nouă
Editura: Palgrave Macmillan UK
Colecția Palgrave Macmillan
Locul publicării:London, United Kingdom
ISBN-10: 1137539909
Pagini: 306
Ilustrații: XVI, 306 p. 12 illus.
Dimensiuni: 140 x 216 x 23 mm
Greutate: 0.45 kg
Ediția:Nouă
Editura: Palgrave Macmillan UK
Colecția Palgrave Macmillan
Locul publicării:London, United Kingdom
Recenzii
'This book paves the way for another revolution in macroeconomics. Wray shows us how an economy with modern money works and, more importantly, how it can be used to lift us to a more prosperous tomorrow.' Stephanie Kelton, University of Missouri-Kansas City
'Wray debunks so many of the destructive beliefs that have contributed to our current economic and social malaise. This is a primer that should not only become mandatory reading for students of economics, but any policy maker who truly wants to deal with the grave disasters engendered from years of 'reading from the wrong playbook'.' Marshall Auerback, Director of the Economists for Peace and Security (epsusa.org) and a research associate at the Levy Institute
'Wray debunks so many of the destructive beliefs that have contributed to our current economic and social malaise. This is a primer that should not only become mandatory reading for students of economics, but any policy maker who truly wants to deal with the grave disasters engendered from years of 'reading from the wrong playbook'.' Marshall Auerback, Director of the Economists for Peace and Security (epsusa.org) and a research associate at the Levy Institute
Notă biografică
L. Randall Wray is a professor of Economics at the University of Missouri-Kansas City, USA, and Senior Scholar at the Levy Economics Institute of Bard College, New York, USA. A student of Hyman P. Minsky while at Washington University in St. Louis, Wray has focused on monetary theory and policy, macroeconomics, financial instability, and employment policy. He has published widely in journals and is the author of Why Minsky Matters (2015), Understanding Modern Money: The Key to Full Employment and Price Stability (1998) and Money and Credit in Capitalist Economies (1990). He is the editor of Credit and State Theories of Money (2004) and the co-editor of Contemporary Post Keynesian Analysis (2005), Money, Financial Instability and Stabilization Policy (2006), and Keynes for the Twenty-First Century: The Continuing Relevance of The General Theory (2008). Wray is also the author of numerous scholarly articles in edited books and academic journals. He is the co-editor of the Journal of Post Keynesian Economics. He has been a visiting professor at the University of Rome, the University of Paris, the University of Bergamo, the University of Bologna, and UNAM (Mexico City). He was the Bernardin-Haskell Professor, UMKC, Fall 1996, and joined the UMKC faculty as Professor of Economics, August 1999.
Caracteristici
Fully revised and updated second edition to an iconic text that changed the way we understand the economy Provides fresh ideas about how policymakers around the world should address the continued weaknesses in their economies
Cuprins
1. The Basics of Modern Money Theory.- 2. The Basics of Macroeconomic Accounting.- 3. Spending by Issuer of Domestic Currency.- 4. The Domestic Monetary System: Banking and Central Banking.- 5. Fiscal Operations in a Nation That Issues Its Own Currency.- 6. Tax Policy for Sovereign Nations.- 7. Modern Money Theory and Alternative Exchange Rate Regimes.- 8. Monetary and Fiscal Policy for Sovereign Currencies: What Should Government Do?.- 9. Policy for Full Employment and Price Stability.- 10. Inflation and sovereign currencies.- 11. Conclusions: Modern money theory for sovereign currencies.
Textul de pe ultima copertă
This book, a revised new edition, examines how money is created and how it functions within global exchange rate regimes to highlight how monetary policy can promote economic growth, full employment, and price stability. It provides an introduction to the basics of macroeconomic accounting and the domestic monetary system, as well as fiscal operations, tax policy for sovereign nations, and alternative exchange rate regimes. New topics, including central bank clearing, responses to the COVID-19 pandemic, the rise of inflation, and how to finance a Green New Deal, are also discussed.
Since the second edition was published in 2015, Modern Money Theory (MMT) has been in the news with great frequency. First condemned as “crazy talk”, it was embraced in the depths of the COVID-19 pandemic as a “new” way to finance the $5 trillion response by the administrations of both Donald Trump and Joe Biden. MMT remains in the news as its proponents reject the mainstream’s analysis of the causes of the post-pandemic inflation that has hit much of the world. It also offers an alternative approach to dealing with inflation, arguing that relying on high interest rates is misguided and causing unnecessary pain.
Modern Money Theory provides the reader with a framework for understanding real world economies. It will be relevant to students, researchers, and policymakers interested in monetary policy and modern money theory.
L. Randall Wray is Professor of Economics at the Levy Economics Institute of Bard College. He was invited to present on MMT before the Congressional Budget Office, and to give testimony before the House Budget Committee. The Chairman of that Committee, John Yarmuth later gave a remarkable interview in which he cogently summarized and endorsed the main conclusions of MMT.
Since the second edition was published in 2015, Modern Money Theory (MMT) has been in the news with great frequency. First condemned as “crazy talk”, it was embraced in the depths of the COVID-19 pandemic as a “new” way to finance the $5 trillion response by the administrations of both Donald Trump and Joe Biden. MMT remains in the news as its proponents reject the mainstream’s analysis of the causes of the post-pandemic inflation that has hit much of the world. It also offers an alternative approach to dealing with inflation, arguing that relying on high interest rates is misguided and causing unnecessary pain.
Modern Money Theory provides the reader with a framework for understanding real world economies. It will be relevant to students, researchers, and policymakers interested in monetary policy and modern money theory.
L. Randall Wray is Professor of Economics at the Levy Economics Institute of Bard College. He was invited to present on MMT before the Congressional Budget Office, and to give testimony before the House Budget Committee. The Chairman of that Committee, John Yarmuth later gave a remarkable interview in which he cogently summarized and endorsed the main conclusions of MMT.