Overview
- Updates an iconic text that has changed our understanding of macroeconomics
- Provides fresh ideas about how policymakers should address weaknesses in their economies
- Opposes to the neo-classical consensus to provide a radical perspective on macroeconomics
Access this book
Tax calculation will be finalised at checkout
Other ways to access
Table of contents (9 chapters)
-
Front Matter
-
Back Matter
Keywords
- Macroeconomic Accounting
- Stocks and flows
- Government budget deficits
- Domestic currency
- Sovereign currency
- Economic sustainability
- Domestic monetary systems
- Central bank clearing
- Balance sheets of banks
- Exogenous interest rates
- Quantitative easing
- Treasury coordination
- Treasury debt operations
- Fiscal operations
- Tax policy for sovereign nations
- Alternative exchange rate regimes
- Floating exchange rates
- COVID-19 economic response
- Employment and price stability
- Inflation and sovereign currencies
About this book
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, 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.
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.
Authors and Affiliations
About the author
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.
Bibliographic Information
Book Title: Modern Money Theory
Book Subtitle: A Primer on Macroeconomics for Sovereign Monetary Systems
Authors: L. Randall Wray
DOI: https://doi.org/10.1007/978-3-031-47884-0
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2024
Softcover ISBN: 978-3-031-47886-4Published: 03 May 2024
eBook ISBN: 978-3-031-47884-0Published: 26 March 2024
Edition Number: 3
Number of Pages: XI, 320
Number of Illustrations: 11 b/w illustrations, 7 illustrations in colour
Topics: Macroeconomics/Monetary Economics//Financial Economics, Economic Policy, Economic Theory/Quantitative Economics/Mathematical Methods, International Relations