Modern monetary theory: a comprehensive and constructive criticism
"This book offers a rigorous, detailed and balanced analysis of the various contributions to the Modern Monetary Theory debate, incorporating both the arguments of proponents and those who point to its limitations and obstacles. Modern Monetary Theory has soared in popularity, particularly in r...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
London ; New York
Routledge
2024
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Zusammenfassung: | "This book offers a rigorous, detailed and balanced analysis of the various contributions to the Modern Monetary Theory debate, incorporating both the arguments of proponents and those who point to its limitations and obstacles. Modern Monetary Theory has soared in popularity, particularly in response to the covid-19 pandemic and subsequent impacts to the economy which have led to deeper discussions about monetary and financial systems, fiscal and monetary policies, inflation and employment. The main characteristic of Modern Monetary Theory is that it offers a revolutionary way of thinking about all these issues, allowing us to abandon many of the myths that conventional economic theory installed in the collective imagination. Breaking down these false beliefs is an essential requirement to think and devise economic policy proposals that allow full employment to be achieved without suffering worrying inflation rates. However, this approach has also attratced many criticisms and it is also instructive to consider these in more detail to reach a fully rounded conclusion about the potential or merits of MMT. Written to be accessible to the non-economist, this book will be of great interest to readers from across the social sciences, and outside of academia who want to gain a fuller understanding of the Modern Monetary Theory phenomenon"-- |
| Beschreibung: | vii, 184 Seiten |
| ISBN: | 9781032443669 9781032443652 |
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| 520 | 3 | |a "This book offers a rigorous, detailed and balanced analysis of the various contributions to the Modern Monetary Theory debate, incorporating both the arguments of proponents and those who point to its limitations and obstacles. Modern Monetary Theory has soared in popularity, particularly in response to the covid-19 pandemic and subsequent impacts to the economy which have led to deeper discussions about monetary and financial systems, fiscal and monetary policies, inflation and employment. The main characteristic of Modern Monetary Theory is that it offers a revolutionary way of thinking about all these issues, allowing us to abandon many of the myths that conventional economic theory installed in the collective imagination. Breaking down these false beliefs is an essential requirement to think and devise economic policy proposals that allow full employment to be achieved without suffering worrying inflation rates. However, this approach has also attratced many criticisms and it is also instructive to consider these in more detail to reach a fully rounded conclusion about the potential or merits of MMT. Written to be accessible to the non-economist, this book will be of great interest to readers from across the social sciences, and outside of academia who want to gain a fuller understanding of the Modern Monetary Theory phenomenon"-- | |
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Datensatz im Suchindex
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CONTENTS Introduction 1 References 3 1 Modern Monetary Theory's view of the origin of money and its criticisms 6 Introduction 6 Vision ofcommodity money 7 Marx’s commodity money 9 Critique of the commodity money view II Credits and debts 13 Primitive money 15 Money in class society 16 Temples and palaces in Mesopotamia 18 Silver 20 General-purpose money 23 Criticisms 25 Conclusions 27 Notes 30 References 30 2 Modern Monetary Theory's view of the nature of money and its criticisms Introduction 35 The beginnings ofchartalism 35 Neo-chartalism (or MMT chartalism) 37 Taxes 40 Criticisms 43 35
νί Contents Criticisms of taxation driving money 43 Criticisms of the determination of the value of money 50 Conclusions 52 References 53 3 Modern Monetary Theory’s view of monetary sovereignty and its criticisms 57 Introduction 57 Money issuers and users 57 Political sovereignty 61 Criticisms 63 Response to criticisms 68 Conclusions 71 Note 74 References 74 4 Modern Monetary Theory’s view of the deficits and public debt and its criticisms 77 Introduction 77 Different views on public deficits 77 MMT’s view of the public deficit 80 Public debt 82 Criticisms 87 Conclusions 95 References 96 5 Modern Monetary Theory’s view of the bank and endogenous money and its criticisms 102 Introduction 102 Debt pyramid 102 Bank money 106 Endogenous money 108 Criticisms 109 Conclusions 114 References 117 6 Functional Finance and Modern Monetary Theory's view of the inflation and its criticisms Introduction 120 Functional Finance 120 Sectoral balances 125 Criticisms 127 Functional Finance 127 120
Contents vii Monetary policy subordinated to fiscal policy 135 Political assessment and supply-side inflation 139 Pandemic-era inflation 140 Criticism of sectoral balances 143 Conclusions 144 Note 146 References 146 7 Job Guarantee: The path to full employment of Modern Monetary Theory and its critics 153 Job Guarantee 153 Criticisms 160 Conclusions 169 References 170 Final conclusions Index 175 183 |
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| subject_GND | (DE-588)4121333-6 (DE-588)4019902-2 |
| title | Modern monetary theory a comprehensive and constructive criticism |
| title_auth | Modern monetary theory a comprehensive and constructive criticism |
| title_exact_search | Modern monetary theory a comprehensive and constructive criticism |
| title_exact_search_txtP | Modern monetary theory a comprehensive and constructive criticism |
| title_full | Modern monetary theory a comprehensive and constructive criticism Eduardo Garzón Espinosa |
| title_fullStr | Modern monetary theory a comprehensive and constructive criticism Eduardo Garzón Espinosa |
| title_full_unstemmed | Modern monetary theory a comprehensive and constructive criticism Eduardo Garzón Espinosa |
| title_short | Modern monetary theory |
| title_sort | modern monetary theory a comprehensive and constructive criticism |
| title_sub | a comprehensive and constructive criticism |
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