Money is the good that is most universal, in the sense that people want it, or realize they can trade for it and then easily and reliably trade it for something else they do want. Other definitions consider money to be “that which extinguishes debt”, but debt is generally denominated in...
What is MMT? Modern Monetary Theory macroeconomic framework that says monetarily sovereign countries like the U.S., U.K., Japan, and Canada, which spend, tax, and borrow in a fiat currency they fully control, are not operationally constrained by revenues when it comes to government spending....
Three observations on modern monetary theory (MMT): (1) What's right is not new—Consolidating public finance, whether it's held on a balance sheet of the Fed or held on the balance sheet of the fiscal authority, is the appropriate strategy to understand debt burdens and debt sustainability...
But it is the gop, NOT democrats who want privatize medicare and social security, and it is the gop – not democrats – who refuse to consider taxing the richest .01% of population, and it is the gop, NOT democrats who slime blame immigrants, and gays, minorities, and the poor in gen...
Posted inEconomic History,European Union,Macro,MMT Posted by:Dirk| June 9, 2021 How Functional Finance differs from Modern Monetary Theory (MMT) I have been re-reading theFunctional Finance and the Federal Debtpaper this afternoon. There are crucial differences between Functional Finance Theory (FFT...
Modern Monetary Theory (MMT) is a macroeconomic theory developed in the late 20th century that provides an alternative to traditional theories of money and government finance. It was developed in response to the increasing criticism of neoclassical economic theories, which rely on the assumption of ...
Functional FinanceIt is commonplace to link neoclassical economics to 18th- or 19th-century physics and its notion of equilibrium, of a pendulum once disturbed eventually coming to rest. Likewise, an economy subjected to an exogenous shock seeks equilibrium through the stabilizing market forces ...
As the fiscal and monetary policy rules of Europe’s Ancient Regimes fall victim to Covid-19 a new Republic founded on the principles of Modern Monetary...
So my first filter is to look at SPACs, specifically targeting themes that have potential future demand. Leverage Your Knowledge I used to work in Silicon Valley and have a decent idea of emerging trends in software. Based on my hobbies, such as finance, I am very interested in anything re...
Closer to current research, in international finance, we often talk about uncovered interest parity (UIP), the proposition that expected returns on bonds expressed in a common currency are equalized in the absence of barriers to arbitrage. But the joint hypothesis of UIP and rational expectations ...