#159 L. Randall Wray: How MMT Can Save The World
The MMT Podcast with Patricia Pino & Christian Reilly
Release Date: 02/22/2023
The MMT Podcast with Patricia Pino & Christian Reilly
What every voter needs to know: Patricia and Christian talk to economist and author of “MMT: A Simple Guide to the Monetary System”, Dr Dirk Ehnts about the upcoming UK election and what’s missing from media coverage. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! July 15-17 Inaugural UK Modern Monetary Theory Conference (Leeds, UK): August 19th - 23rd Dirk Ehnts’ Maastricht University Modern...
info_outlineThe MMT Podcast with Patricia Pino & Christian Reilly
Part 2: Christian talks to Dr Phil Armstrong about his recent paper: “History and origin of money in MMT and Austrian Economics: The difference methodology makes?” Part 1: Full conversation available here: Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! July 15-17 Inaugural UK Modern Monetary Theory Conference (Leeds, UK): August 19th - 23rd Dirk Ehnts’ Maastricht University Modern Monetary...
info_outlineThe MMT Podcast with Patricia Pino & Christian Reilly
Part 1: Christian talks to Dr Phil Armstrong about his recent paper: “History and origin of money in MMT and Austrian Economics: The difference methodology makes?” Full conversation available here: Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! June 17-21 Bard College Summer Workshop in Public Finance and Economic Policy (online) applications close 30th April: July 15-17 Inaugural UK Modern Monetary...
info_outlineThe MMT Podcast with Patricia Pino & Christian Reilly
Patricia and Christian talk to Dr Dirk Ehnts about the origins and nature of money, and what it means for tackling our various planetary emergencies. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! June 17-21 Bard College Sumer Workshop in Public Finance and Economic Policy (online) applications close 30th April: July 15-17 Inaugural UK Modern Monetary Theory Conference (Leeds, UK): August 19th - 23rd...
info_outlineThe MMT Podcast with Patricia Pino & Christian Reilly
STOP PRESS! FOR OUR AUSTRALIAN PALS - THE “FINDING THE MONEY” FILM TOUR STARTS THIS WEEK - AS IN 27TH OF FEBRUARY! MORE DETAILS HERE: Patricia and Christian talk to Professor Steven Hail about behavioural economics as a vital corrective to the unreal assumptions in mainstream models. Just as MMT models the monetary system as it actually is, Dr Hail talks about the importance of modelling people as they actually are. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: ...
info_outlineThe MMT Podcast with Patricia Pino & Christian Reilly
Christian talks to Mark Diesendorf, a physicist and professor in the Environment & Society Group at the University of New South Wales, about the economics underpinning his latest book, “The Path To An Ecologically Just Civilisation”. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! A presentation by Bill Mitchell (London, January 26): Economics Of The Real World (Edinburgh, 21st March 2024): Scotonomics...
info_outlineThe MMT Podcast with Patricia Pino & Christian Reilly
Christian talks to author Cory Doctorow and MMT founder Warren Mosler about Cory’s latest book “The Lost Cause” (set in a post-Green New Deal future), framing the MMT Job Guarantee, and more. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! Economics Of The Real World (Edinburgh, Scotland 21st March 2024): Scotonomics Festival Of Economics (Dundee, Scotland 22-24th March 2024): STUDY THE ECONOMICS...
info_outlineThe MMT Podcast with Patricia Pino & Christian Reilly
Patricia and Christian talk to economist, author and Modern Money Lab instructor Dr Erik Dean about the history of Keynesianism, BS jobs, and Keynes’ “Economic Possibilities For Our Grandchildren”. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! Economics Of The Real World (Edinburgh, Scotland 21st March 2024): Scotonomics Festival Of Economics (Dundee, Scotland 22-24th March 2024): STUDY THE...
info_outlineThe MMT Podcast with Patricia Pino & Christian Reilly
To commemorate the anniversary of Trussonomic Mini-budgeting, Christian talks to Professor John T. Harvey about what determines currency prices and more. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! Economics Of The Real World (Edinburgh, Scotland 21st March 2024): Scotonomics Festival Of Economics (Dundee, Scotland 22-24th March 2024): Order the Gower Initiative’s “Modern Monetary Theory -...
info_outlineThe MMT Podcast with Patricia Pino & Christian Reilly
Patricia & Christian conclude their conversation about Stephanie Kelton’s best-seller The Deficit Myth. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! “Rethinking Capitalism” weekend event with Dr Steven Hail (Canberra, 26th-27th August): Sign up to the Gower Initiative For Modern Money Studies’ mailing list for updates about their event with Warren Mosler in London on 1st September (details TBC): ...
info_outlineWhat is money, where does it come from and why is it important?
Patricia & Christian talk to award-winning primary MMT academic Professor L. Randall Wray about his latest book “Making Money Work For Us” and his part in the new academic collaboration “Modern Monetary Theory - Key Insights, Leading Thinkers.”
Also in this episode: What are taxes for? Where do commercial banks fit in? And what is “doing MMT”?
Please help sustain this podcast!
Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast
Order L Randall Wray’s latest book, “Making Money Work for Us” (2022): https://www.amazon.co.uk/gp/product/B0BDCS46BG/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i0
Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers” (2023): https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html
For an intro to MMT:
Our first three episodes: https://www.patreon.com/posts/41742417
Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318
All our episodes in chronological order: https://www.patreon.com/posts/43111643
All our episodes with L. Randall Wray: https://www.patreon.com/posts/44467066
Relevant to this episode:
Episode 133 with Professor Hannah Appel, co-founder of The Debt Collective: https://www.patreon.com/posts/67518491
For more on quantitative easing:
Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true
Episode 59 - Warren Mosler: What Do Central Banks Do?:https://www.patreon.com/posts/39070023
For more on the meaning of endogenous and exogenous money, listen to our episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683
For more on the MMT Job Guarantee (the targeted spending Professor Wray refers to in this episode), Pavlina Tcherneva lays out why the Job Guarantee is core to Modern Monetary Theory in Episode 148: https://www.patreon.com/posts/73211346?pr=true
“WHAT IS MONEY?” by A Mitchell Innes: https://www.community-exchange.org/docs/what%20is%20money.htm
Quick MMT reads:
Warren’s Mosler’s MMT white paper: http://moslereconomics.com/mmt-white-paper/
Steven Hail’s quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095
On government debt: “Some Numbers Are Big. Let Me Help You Get Over It”: https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/
For a short, non-technical, free ebook explaining MMT, download MMT founder Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf
Episodes on monetary operations:
Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824
Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318
Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887
Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683
Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183
Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929
Episodes on inflation:
Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508
Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678
Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835
Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379
Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558
More on government bonds (and “vigilantes”):
Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245
Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500
Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true
Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421
Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513
Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true
Job Guarantee episodes:
Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701
Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543
Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346
Pavlina Tcherneva’s Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/
MMT Events And Courses In 2023
Apply for Professor Bill Mitchell’s short, free online course in Modern Monetary Theory (February 15th - March 14th) here: https://www.edx.org/course/modern-monetary-theory-economics-for-the-21st-century
More information about Professor Mitchell’s MMTed project (free public online courses in MMT) here: http://www.mmted.org/
Tickets to the very first Scotonomics festival (online or in-person, Dundee, Scotland 24th-26th March) are available here: https://scotonomics.scot/live-events/
Apply for Dr Dirk Ehnts’ Modern Monetary Theory and European Macroeconomics course at Maastricht University (July 31st - August 4th) here: https://maastricht.dreamapply.com/courses/course/183-modern-monetary-theory-and-european-macroeconomics
Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: https://modernmoneylab.org.au/
Extensive list of MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship
MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies
A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757
We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos
Show notes: https://www.patreon.com/posts/79000475?pr=true