#160 Stuart Medina Miltimore: The Euro Is The Problem
The MMT Podcast with Patricia Pino & Christian Reilly
Release Date: 03/03/2023
The MMT Podcast with Patricia Pino & Christian Reilly
Part 2: Dr Sam Levey answers listener questions about the mechanics of the monetary system. 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! Updates on worldwide screenings of the documentary “Finding The Money” can be found here: To arrange a screening of “Finding The Money”, apply here: STUDY THE ECONOMICS OF SUSTAINABILITY! Details of Modern...
info_outline #189 Sam Levey: Monetary operations Q&A (part 1)The MMT Podcast with Patricia Pino & Christian Reilly
Part 1: Dr Sam Levey answers listener questions about the mechanics of the monetary system. 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! August 19th - 23rd Dirk Ehnts’ Maastricht University Modern Monetary Theory and European Macroeconomics course: August 27-29 MMT Summer school (Poznan, Poland): August 30 - September 2nd, 4th European MMT...
info_outline #188 Election special with Dirk EhntsThe 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_outline #187 Phil Armstrong: MMT & Austrian Economics (part 2)The 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_outline #186 Phil Armstrong: MMT & Austrian Economics (part 1)The 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_outline #185 Dirk Ehnts: The public debt is what we own, not what we oweThe 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_outline #184 Steven Hail: What if people aren’t utility-maximising omniscient supercomputers?The 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_outline #183 Mark Diesendorf: The Path To An Ecologically Just CivilisationThe 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_outline #182 Warren Mosler & Cory Doctorow In ConversationThe 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_outline #181 Erik Dean: What’s Standing Between Us And A 15-Hour Work Week?The 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_outlinePatricia & Christian talk to Stuart Medina Miltimore, economist and founder of the Spanish advocacy group Red MMT about his chapter (co-written with Bill Mitchell) in the major new academic collaboration “Modern Monetary Theory - Key Insights, Leading Thinkers”, which lays out how the euro has driven austerity and the depoliticisation of European democracies.
Whether they know it or not, currency union members (and prospective members) have a choice: status quo, reform, or exit? Understanding modern money - as a policy tool designed to mobilise resources, rather than as an inert medium of exchange - is key to understanding the human stakes of that choice.
Please help sustain this podcast!
Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast
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 Stuart Medina Miltimore: https://www.patreon.com/posts/44400459
Stuart Medina Miltimore on Twitter: https://twitter.com/SMiltim
The website of Stuart’s organisation, Red MMT (contains many MMT resources in Spanish, and site can also be translated into other languages using browser functions): https://www.redmmt.es/
Red MMT YouTube Channel: https://www.youtube.com/@redmmt5253
Relevant to this episode:
For more on Eurozone Job Guarantee proposals:
“Maximizing Price Stability in a Monetary Economy” by Warren Mosler & Damiano Bruno Silipo: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2775400
“Completing the Euro: The Euro Treasury and the Job Guarantee” by Esteban Cruz Hidalgo, Dirk Ehnts and Pavlina R. Tcherneva: https://www.researchgate.net/publication/334226761_Completing_the_Euro_The_Euro_Treasury_and_the_Job_Guarantee
For more on the MMT Job Guarantee in general :
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/
Curried EMU - the meal that fails to nourish by Wynne Godley: https://www.concertedaction.com/2011/11/07/curried-emu/
Our episode 103 - with Ndongo Samba Sylla on The CFA Franc & The Movement For Monetary Sovereignty In Africa: https://www.patreon.com/posts/51864583
Warren Mosler tells the “Dogs & Bones” story: https://youtu.be/2vTjLwYCi24
Overview of automatic stabilisers: https://en.wikipedia.org/wiki/Automatic_stabilizer
We talk about what caused the pension fund crisis during the Truss government (or mini-government?) here: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/72906421?pr=true
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
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/
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
MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship
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/79507827?pr=true