The MMT Podcast with Patricia Pino & Christian Reilly

The MMT Podcast offers economic analysis on current issues from a Modern Monetary Theory perspective. Aimed at anyone who has ever felt lost in the jargon used by mainstream economics commentators. We believe economics is for everyone. You can help sustain this podcast via Patreon: https://www.patreon.com/MMTpodcast

#215 Bullied By The Bond Market - Will The Next Prime Minister Make The Same Mistakes As The Last? 06/29/2026

#215 Bullied By The Bond Market - Will The Next Prime Minister Make The Same Mistakes As The Last? In the wake of Kier Starmer’s exit as leader of the Labour Party, Patricia and Christian examine the prospects of the presumed next leader of the Labour Party and the country, Andy Burnham, being able to stand up to the not-so-subtle bullying from the financial press over his economic policy. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: Relevant to this episode: Patricia’s Substack: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: "There is no need to issue public debt” by Bill Mitchell: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: “Understanding the Inflation Risks of Public Capital Investment” by Patricia Pino Argumedo: “A Counterinflationary Job Guarantee For The United Kingdom”, by Patricia Pino, Phil Armstrong and Steve Laughton: Watch a 15-minute introductory film on the Job Guarantee, featuring Patricia Pino, Pavlina Tcherneva, and Daniel Kostzer: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: All our episodes in chronological order: All our patron-only episodes: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/41860110

#214 Live: A Job Guarantee For The UK with Patricia Pino and Bill Mitchell (part 2) 06/16/2026

#214 Live: A Job Guarantee For The UK with Patricia Pino and Bill Mitchell (part 2) Part 2: On 25 February 2026, MMT UK launched with a flagship public event featuring Professor Bill Mitchell, one of the original architects of Modern Monetary Theory, alongside the publication of MMT UK’s first policy paper - “A Job Guarantee for the UK”. This is the Q&A session from that event. Special thanks to Damian Coldwell for recording and post-production, and Chris Bland for the transcript (see attached PDF in show notes). Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: Relevant to this episode: “A Counterinflationary Job Guarantee For The United Kingdom”, by Patricia Pino, Phil Armstrong and Steve Laughton: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: More info on the event here: Watch a 15-minute introductory film on the Job Guarantee, featuring Patricia Pino, Pavlina Tcherneva, and Daniel Kostzer: Patricia’s Substack: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Sat 20 June | Sat 27 June | Sun 28 June All details: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/41647680

#213 Live: A Job Guarantee For The UK with Patricia Pino and Bill Mitchell 06/13/2026

#213 Live: A Job Guarantee For The UK with Patricia Pino and Bill Mitchell On 25 February 2026, MMT UK launched with a flagship public event featuring Professor Bill Mitchell, one of the original architects of Modern Monetary Theory, alongside the publication of MMT UK’s first policy paper - “A Job Guarantee for the UK”. This is the audio of that event. Special thanks to Damian Coldwell for recording and post-production, and Chris Bland for the transcript (see attached PDF in show notes). Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: Relevant to this episode: “A Counterinflationary Job Guarantee For The United Kingdom”, by Patricia Pino, Phil Armstrong and Steve Laughton: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: More info on the event here: Watch a 15-minute introductory film on the Job Guarantee, featuring Patricia Pino, Pavlina Tcherneva, and Daniel Kostzer: Patricia’s Substack: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Sat 20 June | Sat 27 June | Sun 28 June All details: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/41626795

#212 From Austerity To Resilience - How to Build a Better Economy with Steven Hail 06/10/2026

#212 From Austerity To Resilience - How to Build a Better Economy with Steven Hail Patricia and Christian talk to Professor Steven Hail about the current state of economic discourse in anticipation of his upcoming workshops in Brighton (20th June, also featuring Patricia, Christian, and Green Party councillor and economist Sheridan Kates), Stockholm (27th June), and Brussels (28th June), entitled “From Austerity To Resilience - How to Build a Better Economy”, which will empower participants to counter the common narrative that public investment is unaffordable or must be paid for by implementing austerity measures. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: LIVE EVENTS! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Sat 20 June | Sat 27 June | Sun 28 June All details: All our episodes in chronological order: All our patron-only episodes: Relevant to this episode: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Jamie Smith’s substack: Steven Hail’s Substack: Episode 211 - A Time-Critical Plan For UK Energy Prices And Security with Patricia Pino: From Price Taker To Price Shaper: A Time-Critical Plan For UK Energy Prices And Security” by Patricia Pino: Patricia’s energy price stabilisation work featured in The Guardian: “A Counterinflationary Job Guarantee For The United Kingdom”, by Patricia Pino, Phil Armstrong and Steve Laughton: Watch a 15-minute introductory film on the Job Guarantee, featuring Patricia Pino, Pavlina Tcherneva, and Daniel Kostzer: “Understanding the Inflation Risks of Public Capital Investment: An input-output modelling approach” by Patricia Pino: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs and banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/41588870

#211 A Time-Critical Plan For UK Energy Prices And Security with Patricia Pino 06/02/2026

#211 A Time-Critical Plan For UK Energy Prices And Security with Patricia Pino A conversation with Patricia Pino about her recent paper, “From Price Taker To Price Shaper: A Time-Critical Plan For UK Energy Prices And Security”. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: Relevant to this episode: “From Price Taker To Price Shaper: A Time-Critical Plan For UK Energy Prices And Security” by Patricia Pino: “A Counterinflationary Job Guarantee For The United Kingdom”, by Patricia Pino, Phil Armstrong and Steve Laughton: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT Podcast Episode 7 - Steven Hail: Inflation, Price Shocks And Other Misunderstandings: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Sat 20 June | Sat 27 June | Sun 28 June All details: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/41498035

#210 MMT and International Trade with Dr Phil Armstrong (part 2) 05/13/2026

#210 MMT and International Trade with Dr Phil Armstrong (part 2) Part 2: Patricia and Christian continue the conversation with economist and author Dr Phil Armstrong about his recent paper, “Modern Monetary Theory and International Trade: Developments on the Base Case for Analysis”. Full conversation here: Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: Relevant to this episode: "Modern Monetary Theory and International Trade: Developments on the Base Case for Analysis” by Dr Phil Armstrong: “A Counterinflationary Job Guarantee For The United Kingdom”, by Patricia Pino, Phil Armstrong and Steve Laughton: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: “Is exchange rate depreciation inflationary?” by Bill Mitchell: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Sat 20 June | Sat 27 June | Sun 28 June All details: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/41235515

#209 MMT and International Trade with Dr Phil Armstrong (part 1) 04/28/2026

#209 MMT and International Trade with Dr Phil Armstrong (part 1) #209 MMT and International Trade with Dr Phil Armstrong (part 1) Patricia and Christian talk to economist and author Dr Phil Armstrong about his recent paper, “Modern Monetary Theory and International Trade: Developments on the Base Case for Analysis”. Full conversation here: Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: Relevant to this episode: "Modern Monetary Theory and International Trade: Developments on the Base Case for Analysis” by Dr Phil Armstrong: “A Counterinflationary Job Guarantee For The United Kingdom”, by Patricia Pino, Phil Armstrong and Steve Laughton: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: “Is exchange rate depreciation inflationary?” by Bill Mitchell: All our episodes in chronological order: All our patron-only episodes: LIVE EVENTS! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Sat 20 June | Sat 27 June | Sun 28 June All details: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/41033530

#208 The Fauxbel Prize: Top Lies In Economics 2026 with Dr Phil Armstrong (part 2) 03/17/2026

#208 The Fauxbel Prize: Top Lies In Economics 2026 with Dr Phil Armstrong (part 2) Patricia and Christian talk to economist and author Dr Phil Armstrong about the least useful pieces of economic commentary from the last 12 months. In this episode: 5. “Quantitative Easing causes ‘asset price inflation’” 6. “Fiscal ‘headroom’” 7. “The ‘labour market’ needs ‘softening’ (and monetary policy should be used to do it)” 8. “Progressive policies will weaken the pound!” 9. “Understanding the money system is a technocratic distraction!” Full conversation (including candidates 1-4) here: Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: Relevant to this episode: Join Patricia and Phil (and many more) at Scotland’s Festival of Economics (Edinburgh and online) 19th - 21st March 2026: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: “The self-financing state: An institutional analysis of government expenditure, revenue collection and debt issuance operations in the United Kingdom” (Berkeley et al, 2022): For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: "There is no need to issue public debt” by Bill Mitchell: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: “Is exchange rate depreciation inflationary?” by Bill Mitchell: All our episodes in chronological order: All our patron-only episodes: Scotland’s Festival of Economics (Edinburgh and online) 19th - 21st March 2026: NEW LIVE EVENTS! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Sat 18 April | Sun 19 April | Sat 20 June | Sat 27 June | Sun 28 June All details: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/40504245

#207 Business Cycles Without The Body Count with Professor John T Harvey 03/13/2026

#207 Business Cycles Without The Body Count with Professor John T Harvey Patricia and Christian talk to economist and author Professor John T Harvey about his latest book, “US business cycles from 1954-2020”, his evergreen “Contending Perspectives In Economics”, and solutions to an inherently unstable system. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: Relevant to this episode: Join John T. Harvey, Patricia Pino, Phil Armstrong and many more at Scotland’s Festival of Economics (Edinburgh and online) 19th - 21st March 2026: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: All our episodes with John T Harvey: “US Business Cycles 1954–2020” by John T Harvey: “Contending Perspectives in Economics” by John T Harvey: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: “Is exchange rate depreciation inflationary?” by Bill Mitchell: All our episodes in chronological order: All our patron-only episodes: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: NEW! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Sat 18 April | Sun 19 April | Sat 20 June | Sat 27 June | Sun 28 June All details: STUDY THE ECONOMICS OF SUSTAINABILITY! Details of Modern Money Lab’s online graduate, postgraduate and standalone courses in economics are here: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “Finding The Money” can be found here: To arrange a screening of “Finding The Money”, apply here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: NEW! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Sat 18 April | Sun 19 April | Sat 20 June | Sat 27 June | Sun 28 June All details: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: /episode/index/show/pileusmmt/id/40415840

#206 The Fauxbel Prize: Top Lies In Economics 2026 with Dr Phil Armstrong (part 1) 02/19/2026

#206 The Fauxbel Prize: Top Lies In Economics 2026 with Dr Phil Armstrong (part 1) Patricia and Christian talk to economist and author Dr Phil Armstrong about the least useful pieces of economic commentary from the last 12 months. In this episode: “Sure, the government *can* create money… (but it shouldn’t)” “It’s okay for the government to ‘borrow’… if it’s investing” “The national debt is a time bomb!” “Government ‘borrowing’ is okay… when interest rates are low" More to follow in part 2 Full conversation here: Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: ******************************** STOP PRESS!! JOIN PATRICIA AND MMT CO-FOUNDER PROFESSOR BILL MITCHELL AT THE LAUNCH OF A NEW DEDICATED MODERN MONETARY THEORY THINK TANK - MMTUK POLICY RESEARCH GROUP! 7pm on Wednesday 25 February at Friends Meeting House, London Click here to register as an attendee: MMTUK will be publishing its Job Guarantee policy on 25th February - read a short intro here: ******************************** Relevant to this episode: Join Patricia and Phil (and many more) at Scotland’s Festival of Economics (Edinburgh and online) 19th - 21st March 2026: Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: “The self-financing state: An institutional analysis of government expenditure, revenue collection and debt issuance operations in the United Kingdom” (Berkeley et al, 2022): For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: "There is no need to issue public debt” by Bill Mitchell: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: “Is exchange rate depreciation inflationary?” by Bill Mitchell: Podcast Description In this compelling first part of their annual Fauxbel Prize discussion, Patricia Pino and Christian Reilly are joined by economist Dr Phil Armstrong to dissect the most deceptive economic talking points of 2026. What emerges is a masterclass in identifying the subtle linguistic tricks that maintain public misunderstanding about how government finance actually works. The conversation begins with Christian's astute observation about the phrase 'the government *can* create money' - a seemingly innocent statement that actually perpetuates dangerous misconceptions. As the panel explores, there's a world of difference between saying the government 'can' create money versus acknowledging that it 'does' create money with every pound it spends. This distinction matters because it allows economists and pundits to maintain outdated frameworks whilst appearing to acknowledge MMT insights. Dr Armstrong brings his characteristic clarity to explaining the consolidated view of government and central bank operations, illustrating why all government spending necessarily involves money creation. Using vivid analogies - from goldfish that must swim in water to the government's unique relationship with the Bank of England - he demonstrates why currency-issuing governments are fundamentally different from currency users like households or businesses. The discussion then tackles the politically damaging notion that governments should only 'borrow to invest'. Patricia explains why this framing misunderstands the true function of deficits whilst inadvertently supporting neoliberal arguments for privatisation. The panel reveals how this seemingly progressive talking point actually reinforces the household analogy and hands ammunition to fiscal conservatives. In his analysis of the 'public debt time bomb' narrative, Phil turns conventional wisdom on its head by pointing out that if foreign debt holdings were truly a source of power, then Britain - as the second-largest holder of US Treasury securities - would presumably have a decisive degree of control over America's economic destiny. Throughout, the conversation illuminates core MMT principles: the operational reality of government spending, the true nature of government bonds as private sector savings, and why exchange rate concerns, whilst legitimate, shouldn't drive us back to defunct fiscal rules. The panel's analysis reveals how even well-intentioned progressive economists can inadvertently perpetuate harmful misconceptions about monetary sovereignty. =========== Key Topics with Timestamps [02:15] Introduction to the Fauxbel Prize concept[05:30] "Government can create money" vs "does create money"[12:45] The consolidated view of government and central bank[18:20] Why all government spending is money creation[25:10] "Borrowing to invest" - the progressive own goal[35:45] Historical context: Keynes and bifurcating budgets[42:30] The “Tap” system vs bond auctions[48:15] "Public debt = time bomb" narrative analysis[55:40] Exchange rate concerns and industrial policy ========= Guest Bio Dr Phil Armstrong - Economist and author of "Can Heterodox Economics Make a Difference?". Researcher with expertise in monetary operations and MMT analysis. Key Takeaways Language matters: The difference between "can" and "does" in describing government money creation shapes public understanding All government spending creates new money: Currency-issuing governments cannot spend previously collected money - every expenditure creates new money The “government borrowing to Invest” narrative is counterproductive: This framing reinforces household analogies and supports privatisation arguments A government “debt” clock is a national SAVINGS clock: Government debt represents private sector savings, not a burden Exchange rate policy needs strategy: Arbitrary fiscal rules won't address structural economic vulnerabilities =============== All our episodes in chronological order: All our patron-only episodes: Scotland’s Festival of Economics (Edinburgh and online) 19th - 21st March 2026: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/40143335

#205 Economics At The Movies with Sam Levey 12/24/2025

#205 Economics At The Movies with Sam Levey Patricia & Christian talk to economist Dr Sam Levey about films set in the world of finance, including Trading Places, The Big Short, The Wolf Of Wall Street, Boiler Room and Inside Job. (Conversation recorded in 2023). Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: LIVE EVENT! THE FAUXBEL PRIZE IN ECONOMICS 2026 🏆 Join Patricia Pino, Christian Reilly and Dr Phil Armstrong for a live version of the MMT Podcast where the audience will vote for their least-favourite talking points in economics discourse. Sat 21st March 2026, Leith, Edinburgh: ONLINE EVENTS! Get tickets for Modern Money Lab’s free online lecture series coming up in January 2026: ========= Description: What can Trading Places teach us about commodities markets? How accurate is The Big Short's portrayal of the 2008 financial crisis? In this entertaining and educational episode, Patricia and Christian welcome back MMT scholar Dr. Sam Levey to explore the intersection of Hollywood and high finance. The conversation begins with the 1983 classic Trading Places, using this comedic masterpiece (starring Eddie Murphy and Dan Aykroyd) as a springboard to understand commodities broking, short selling, and the mechanics of futures markets. Sam expertly breaks down complex financial concepts like margin calls, leverage, and the bandwagon effect, showing how the film's climactic orange juice trading sequence actually demonstrates sophisticated economic principles. The discussion then shifts to examine how the culture of finance has evolved from the gentleman's club atmosphere depicted in older films to the more aggressive, deregulated environment shown in movies like The Big Short and Wolf of Wall Street. Sam traces this transformation to the rise of shareholder primacy doctrine in the 1970s and 1980s, connecting Milton Friedman's ideas about corporate responsibility to the toxic trading floor cultures that emerged. The hosts and Sam delve deep into the causes of the 2008 financial crisis, moving beyond simple explanations to explore systemic failures in business models, widespread fraud, and the role of deregulation. Patricia offers valuable insights about how the apparent prosperity of the 1990s was built on unsustainable credit expansion, whilst Sam discusses the work of his professor Bill Black on financial fraud and control fraud. Throughout the episode, the conversation weaves between entertainment and education, using cinema as a lens to understand real economic phenomena. The discussion touches on Modern Monetary Theory concepts, particularly around private sector deficits and the role of government spending in economic stability. This episode brilliantly demonstrates how popular culture shapes our understanding of complex economic systems, whilst providing listeners with the analytical tools to distinguish between Hollywood drama and economic reality. ======== Episode Summary MMT scholar Dr. Sam Levey returns to decode Hollywood's portrayal of finance, from the 1983 comedy Trading Places to the 2008 crisis drama The Big Short. This entertaining discussion uses cinema as a window into real financial markets, exploring everything from commodities trading to systemic fraud. Key Topics & Timestamps Trading Places Analysis [00:00] Introduction and guest welcome [05:30] What commodities brokers actually do [12:15] Understanding short selling mechanics [18:45] Futures markets and derivatives [25:20] The bandwagon effect in trading [32:10] Margin calls and leverage explained Financial Culture Evolution [38:45] From gentleman's clubs to trading floor debauchery [42:30] Milton Friedman and shareholder primacy [47:15] Executive compensation changes since the 1970s The Big Short and 2008 Crisis [55:20] Causes of the Great Financial Crisis [62:40] Deregulation and fraud (Bill Black's work) [68:15] Systemic failure vs individual bad actors [75:30] Credit expansion and apparent prosperity References Mentioned Trading Places (1983) The Big Short (2015) Bill Black: "The Best Way to Rob a Bank is to Own One" Milton Friedman on corporate social responsibility James Tobin: "On the Efficiency of the Financial System" (1984) Glass-Steagall Act and its repeal Gramm-Leach-Bliley Act Guest Bio Dr. Sam Levey is an MMT scholar, writer, and teacher who, at the time of recording (2023) had recently completed his PhD dissertation on mobilisation theory. His work focuses on the intersection of economics, policy, and institutional analysis. Key Takeaways Hollywood as Economic Education: Films like Trading Places can effectively illustrate complex financial concepts when properly analysed Cultural Shift in Finance: The move from relationship-based to transaction-based finance culture reflects broader economic changes since the 1970s Systemic vs Individual Failure: The 2008 crisis represented a failure of entire business models, not just individual bad actors The Role of Fraud: Financial fraud thrives in toxic workplace cultures that dehumanise customers and workers Credit and Apparent Prosperity: Much of the economic growth of recent decades has been built on unsustainable private debt expansion ========= All our episodes in chronological order: All our patron-only episodes: Relevant to this episode: All our episodes with Sam Levey: Sam on Twitter: Sam on Medium: In this episode, Sam makes a case for the MMT Job Guarantee, for more on that see our Job Guarantee episodes (below) and this episode with Sam is a great introduction - Episode 125 - Monopoly, Monopsony, And What To Do About Them: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on Silicon Valley Bank and bank runs: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Courses: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/39486065

#204 A Government Budget Is Nothing Like A Household Budget. So What IS It Like? with Steven Hail 12/17/2025

#204 A Government Budget Is Nothing Like A Household Budget. So What IS It Like? with Steven Hail Patricia and Christian talk to Professor Steven Hail about some of the tricky questions progressive leaders and activists are facing. The conversation explores Zack Polanski's bold media messaging, bond market myths, and the historic opportunity for MMT-informed politics in the UK. Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: LIVE EVENT! THE FAUXBEL PRIZE IN ECONOMICS 2026 🏆 Join Patricia Pino, Christian Reilly and Dr Phil Armstrong for a live version of the MMT Podcast where the audience will vote for their least-favourite talking points in economics discourse. Sat 21st March 2026, Leith, Edinburgh: Podcast Description The Green Party's Zack Polanski has been making waves with his bold rejection of the household budget analogy for government spending. But if government budgets aren't like household budgets, what are they actually like? In this episode, economist Steven Hail returns to explore this fundamental question that sits at the heart of Modern Monetary Theory. The conversation begins with Polanski's media appearances and his courageous willingness to challenge orthodox economic narratives on national television. Christian and Patricia examine why this messaging resonates - it's both empirically true and intuitively correct that governments and households operate under fundamentally different constraints. Steven provides crucial context about the unprecedented nature of Polanski's public stance, comparing it to other MMT-informed politicians globally and explaining why the UK media backlash has been so fierce. The discussion reveals how currency-issuing governments like the UK create new money with every expenditure, rather than spending existing tax revenue. This leads to a deep exploration of government bond markets, with Steven dismantling the myth that governments are at the mercy of bond traders. The conversation addresses common fears about currency depreciation and inflation, with Patricia providing analysis on food imports and energy pricing. Steven argues that the UK's high degree of monetary sovereignty means exchange rate fluctuations pose manageable rather than catastrophic risks. The episode tackles criticism from figures like Paul Mason, revealing contradictions in mainstream left arguments about fiscal constraints. The trio discuss practical policy implications, from a Job Guarantee as an automatic stabiliser to the importance of detailed capacity analysis for government investment programmes. Throughout, they emphasise how MMT insights could inform genuinely transformative political change, with Steven suggesting the UK may be experiencing a historic political realignment that creates unprecedented opportunities for MMT-informed governance. =========== Key Topics with Timestamps [02:15] Government vs household spending: the mirror image concept [05:30] Why every government pound spent is a newly created pound [08:45] Zack Polanski's media strategy and establishment backlash [15:20] International comparison: MMT movements worldwide [22:10] Currency creation mechanics and tax/bond relationships [28:40] Addressing Paul Mason's critique of MMT [35:15] Exchange rate fears and monetary sovereignty [42:30] Food imports, energy pricing, and inflation pass-through [48:45] Fiscal rules and the job guarantee discussion [55:20] Project 2030: detailed policy development approach ========= Guest Bio Professor Steven Hail is an economist, author, and founder of Modern Money Lab. Based in Australia, he travels globally supporting MMT education and policy development. Key Takeaways Government spending always creates new money - it's not a choice between spending taxes or creating money Bond markets serve investors, not governments - pension funds need bonds more than governments need to issue them UK monetary sovereignty provides resilience - exchange rate fluctuations are manageable, not catastrophic Political opportunity is unprecedented - both major UK parties may be collapsing simultaneously Detailed policy frameworks matter - MMT insights must be coupled with sophisticated capacity analysis =============== All our episodes in chronological order: All our patron-only episodes: Scotland’s Festival of Economics (Edinburgh and online) 19th - 21st March 2026: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: Get tickets for Modern Money Lab’s free online lecture series coming up in January 2026: “The self-financing state: An institutional analysis of government expenditure, revenue collection and debt issuance operations in the United Kingdom” (Berkeley et al, 2022): For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: "There is no need to issue public debt” by Bill Mitchell: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: “Is exchange rate depreciation inflationary?” by Bill Mitchell: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/39430220

#204 A Government Budget Is Nothing Like A Household Budget. So What IS It Like? with Steven Hail 12/17/2025

#203 Zackonomics and the budget with Phil Armstrong (part 2) 11/23/2025

#203 Zackonomics and the budget with Phil Armstrong (part 2) (Part 2) Patricia and Christian talk to Dr Phil Armstrong about the upcoming UK budget, and Green Party leader Zack Polanski’s positive views of MMT. Full conversation 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 EVENT! THE FAUXBEL PRIZE IN ECONOMICS 2026 🏆 Join Patricia Pino, Christian Reilly and Dr Phil Armstrong for a live version of the MMT Podcast where the audience will vote for their least-favourite talking points in economics discourse. Sat 21st March 2026, Leith, Edinburgh: Part of Scotland’s Festival of Economics (Edinburgh and online) 19th - 21st March 2026: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: “Universal Basic Income or a Job Guarantee?” The Gower Initiative for Modern Money Studies: “Comparing Post-Keynesianism and Modern Monetary Theory: The Importance of Ontology and Sociology” (2025) By Neil Wilson and Phil Armstrong: “Should we favour a Job Guarantee over a Universal Basic Income as a means of achieving a more socially just society?” by Catherine Armstrong: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: "There is no need to issue public debt” by Bill Mitchell: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/39133535

#202 Zackonomics and the budget with Phil Armstrong (part 1) 11/14/2025

#202 Zackonomics and the budget with Phil Armstrong (part 1) (Part 1) Patricia and Christian talk to Dr Phil Armstrong about the upcoming UK budget, and Green Party leader Zack Polanski’s positive views of MMT. Full conversation 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 EVENT! Scotland’s Festival of Economics (Edinburgh and online) 19th - 21st March 2026: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): JOIN THE MMT UK DISCORD SERVER TO CONNECT WITH OTHERS LOOKING TO PROMOTE MMT AND ECOLOGICAL ECONOMICS IN THE UK!: MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: “Universal Basic Income or a Job Guarantee?” The Gower Initiative for Modern Money Studies: “Comparing Post-Keynesianism and Modern Monetary Theory: The Importance of Ontology and Sociology” (2025) By Neil Wilson and Phil Armstrong: “Should we favour a Job Guarantee over a Universal Basic Income as a means of achieving a more socially just society?” by Catherine Armstrong: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: "There is no need to issue public debt” by Bill Mitchell: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/39014100

#201 Anything we can actually do, we can afford: The Anti-austerity Conference with Phil Armstrong (part 2) 09/04/2025

#201 Anything we can actually do, we can afford: The Anti-austerity Conference with Phil Armstrong (part 2) (Part 2) Patricia and Christian continue their conversation with Dr Phil Armstrong about recent events in the world of government budgeting, and the upcoming Anti-Austerity Conference on September 12th-13th. Full conversation 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! The Anti-austerity Conference (Bristol and online) 12th & 13th September: Modern Money Lab seminars featuring Dr Steven Hail - “Public Money for Public Good: Why MMT Matters” Amsterdam, 14th September Sheffield 20th & 21st September Vienna, 27th & 28th September All tickets: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode XXXXX: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: XXXXX For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: "There is no need to issue public debt” by Bill Mitchell: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/38076885

#200 Anything we can actually do, we can afford: The Anti-austerity Conference with Phil Armstrong (part 1) 08/07/2025

#200 Anything we can actually do, we can afford: The Anti-austerity Conference with Phil Armstrong (part 1) Patricia and Christian talk to Dr Phil Armstrong about recent events in the world of government budgeting, and the upcoming Anti-Austerity Conference on September 12th-13th. Full conversation 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! The Anti-austerity Conference (Bristol and online) 12th & 13th September: Modern Money Lab seminars featuring Dr Steven Hail - “Public Money for Public Good: Why MMT Matters” Amsterdam, 14th September Sheffield 20th & 21st September Vienna, 27th & 28th September All tickets: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode XXXXX: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: XXXXX For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: "There is no need to issue public debt” by Bill Mitchell: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT and real-world economics are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: /episode/index/show/pileusmmt/id/37689110

#199 The Money Myths Fuelling Right-Wing Populism with Jakob Feinig 06/20/2025

#199 The Money Myths Fuelling Right-Wing Populism with Jakob Feinig Christian talks to Professor Jakob Feinig about how right-wing politics is bolstered by the myth that humans are part of a mechanism they can neither understand nor change - The Market - and the efforts to further its mystification, known as “monetary silencing”. 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! Modern Money Lab UK weekend seminars in London featuring Dr Steven Hail: June 21st & 22nd (White City) - Rethinking Capitalism June 28th & 29th (Finsbury Park) - Money, Government and the Public Interest - Beyond The Deficit Myth Details and tickets: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: “MAGA, the Job Guarantee, and Post-Neoliberal Public Knowledge” by Jakob Feinig: “Moral Economies of Money” by Jakob Feinig: Money On The Left Collective: Our episode 69 with Scott Ferguson & Maxx Seijo from Money On The Left - “The Choreographers of Credit” - on the “Uni” credit-issuance project: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/37069785

#198 How Captured Economics Stole Our Future & What To Do About It with Katy Shields 06/06/2025

#198 How Captured Economics Stole Our Future & What To Do About It with Katy Shields Patricia and Christian talk with recovering mainstream economist Katy Shields about the ways in which economists and their backers have warped global politics to the point where we and our life-sustaining planet have become secondary concerns to the primary goal of “growth”. 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! Modern Money Lab UK weekend seminars in London featuring Dr Steven Hail: June 21st & 22nd (White City) - Rethinking Capitalism June 28th & 29th (Finsbury Park) - Money, Government and the Public Interest - Beyond The Deficit Myth Details and tickets: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: “How captured economics stole our climate — and what we can do about it” by Katy Shields: Regenerative Economy Lab - upcoming workshops in July (Berlin), September (Vienna) and November (Vienna) 2025: Beyond Growth Forum (Vienna) - 13 June 2025: “Tipping Point: The True Story of the Limits to Growth” podcast by Katy Shields: “Rethinking My Economics” by Angus Deaton Rethinking Economics - student campaign achievements” For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/36871980

#197 The Problem With Wealth Taxes with Steven Hail (part 2) 05/02/2025

#197 The Problem With Wealth Taxes with Steven Hail (part 2) Part 2: Patricia and Christian continue their conversation with economist, author, and founder of Modern Money Lab Professor Professor Steven Hail about the well-intentioned (taxing the rich is good!) but counter-productive call for a wealth tax to “fund” life-saving support for vulnerable people (needlessly waiting for the rich to cough up while people suffer and die is bad!) and, of course - those beautiful tariffs. Full conversation 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! Modern Money Lab UK weekend seminars in London featuring Dr Steven Hail: June 21st & 22nd (White City) - Rethinking Capitalism June 28th & 29th (Finsbury Park) - Money, Government and the Public Interest - Beyond The Deficit Myth Details and tickets: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: "There is no need to issue public debt” by Bill Mitchell: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: Lecture: “The CFA Franc and Monetary Sovereignty in Africa”, by Dr Ndongo Samba Sylla: “Who Is Ron Vara? The Truth Behind Peter Navarro's Fake Expert” by Brendon Beebe: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/36389495

#196 The Problem With Wealth Taxes with Steven Hail (part 1) 04/18/2025

#196 The Problem With Wealth Taxes with Steven Hail (part 1) Part 1: Patricia and Christian talk with economist, author, and founder of Modern Money Lab Professor Steven Hail about the well-intentioned but counter-productive call for a wealth tax to “fund” vital support for vulnerable people. Full conversation 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! Modern Money Lab UK weekend seminars in London featuring Dr Steven Hail: June 21st & 22nd (White City) - Rethinking Capitalism June 28th & 29th (Finsbury Park) - Money, Government and the Public Interest - Beyond The Deficit Myth Details and tickets: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: "There is no need to issue public debt” by Bill Mitchell: “How to Fight Back Against the False Idea that the Government is at the Mercy of Financial Markets” by Sheridan Kates: Lecture: “The CFA Franc and Monetary Sovereignty in Africa”, by Dr Ndongo Samba Sylla: “Who Is Ron Vara? The Truth Behind Peter Navarro's Fake Expert” by Brendon Beebe: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: For more on the (Liz) Trussageddon, listen to Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: /episode/index/show/pileusmmt/id/36205865

#195 Capitalists Hate Capitalism with Cory Doctorow 03/22/2025

#195 Capitalists Hate Capitalism with Cory Doctorow Patricia and Christian talk with author and activist Cory Doctorow about capitalism, culture and… [checks notes] marshmallows! 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: TAKE ACTION ON DISABILITY RIGHTS: Find your MP: Consultation on UK government “reforms” to benefits: LIVE EVENTS! March 22nd & 23rd Scotonomics Festival of Economics: SAVE THE DATES! Modern Money Lab UK weekend Seminars featuring Dr Steven Hail: June 21st & 22nd - Rethinking Capitalism June 28th & 29th - Money, Government and the Public Interest - Beyond The Deficit Myth Further details here: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): MMT: THE MOVIE! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: Buy Cory’s Doctorow’s latest book: Cory’s daily blog: Cory’s live dates: “What is money” by A. Mitchell-Innes: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/35818990

#194 The Appallingly Bad Economics Of Elon Musk with Dr Dirk Ehnts 03/13/2025

#194 The Appallingly Bad Economics Of Elon Musk with Dr Dirk Ehnts Patricia and Christian talk with economist and author Dr Dirk Ehnts about Elon Musk’s nonsensical ideas about how the money system works. 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! March 22nd & 23rd Scotonomics Festival of Economics: SAVE THE DATES! Modern Money Lab UK weekend Seminars featuring Dr Steven Hail: June 21st & 22nd - Rethinking Capitalism June 28th & 29th - Money, Government and the Public Interest - Beyond The Deficit Myth Further details unavailable at time of publication, but will appear on this link as and when they do: JOIN PATRICIA’S MMT ACTIVIST NETWORK (MMT UK): “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: "There is no need to issue public debt” by Bill Mitchell: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Modern Money Theory: A Simple Guide to the Monetary System by Dirk Ehnts: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/35671495

#193 The Fauxbel Prize: Top Lies In Economics 2024 with Dr Phil Armstrong (part 2) 01/31/2025

#193 The Fauxbel Prize: Top Lies In Economics 2024 with Dr Phil Armstrong (part 2) Part 2: Patricia and Christian continue their conversation with economist and author Dr Phil Armstrong about the least useful pieces of economic coverage from 2024. This episode: 7) “Markets are natural!” 8) “Banks create all the money!” 9) Labour’s Fiscal rule 10) “The government is helpless!” Full conversation 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: “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: "There is no need to issue public debt” by Bill Mitchell: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 167 - Richard Tye: The Bank of England - The Prequel: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/35080535

#192 The Fauxbel Prize: Top Lies In Economics 2024 with Dr Phil Armstrong (part 1) 01/18/2025

#192 The Fauxbel Prize: Top Lies In Economics 2024 with Dr Phil Armstrong (part 1) Patricia and Christian talk with economist and author Dr Phil Armstrong about the least useful pieces of economic coverage from 2024. This episode: “The fiscal black hole!” “Taxpayer money!” “Government ‘borrowing!’” “Bond vigilantes!” More to follow in part 2. Full episode 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: “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: "There is no need to issue public debt” by Bill Mitchell: For more on the endogenous money view (the non-fringe, very mainstream view that bank loans create deposits, not the other way around), listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 167 - Richard Tye: The Bank of England - The Prequel: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/34893080

#191 Steven Hail: What is Rachel Reeves thinking? 10/11/2024

#191 Steven Hail: What is Rachel Reeves thinking? Patricia and Christian talk to economist and author Professor Steven Hail about how Chancellor Rachel Reeves’ views on government spending have changed since 2010. 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: NEWSFLASH! “Finding The Money”, a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: Updates on worldwide screenings of “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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: “The politics of the deficit” by Rachel Reeves: “Think About Minsky for a Moment” by Stephanie Kelton: “This budget, amid talk of deficits, consider the lessons we ought to have learned” by Steven Hail Modern Money Lab YouTube Channel: Episode 30 - Steven Hail: Understanding Government Bonds (Part 1) : Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): “Federal Debt and Modern Money” by Steven Hail & David Joy: For more on sectoral balances - “Why Are Democrats Bragging About Plunging the Private Sector into Deficit?” by Stephanie Kelton: For more on the MMT Job Guarantee, read Pavlina Tcherneva’s Job Guarantee FAQ page: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/33408417

#190 Sam Levey: Monetary operations Q&A (part 2) 09/04/2024

#190 Sam Levey: Monetary operations Q&A (part 2) 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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: All our episodes with Sam Levey: “Buffer Stocks: A Better Diagram” by Sam Levey: “Monopoly Money: The State as a Price Setter” by Pavlina R. Tcherneva: “Monopoly Money Redux” by Sam Levey: Video of Sam explaining his state-as-price-setter model: Explainer on how central banks achieve their target interest rate via a “corridor” or “floor” system: Video explainer of the above: Recent update on the Reserve Bank of Australia’s interest-rate targeting regime: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): Episodes on quantitative easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs and banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT events and courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/32876102

#189 Sam Levey: Monetary operations Q&A (part 1) 07/31/2024

#189 Sam Levey: Monetary operations Q&A (part 1) 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 Conference (Berlin, Germany) no details published yet, but updates will be here: 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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: All our episodes with Sam Levey: “Buffer Stocks: A Better Diagram” by Sam Levey: “Monopoly Money: The State as a Price Setter” by Pavlina R. Tcherneva: “Monopoly Money Redux” by Sam Levey: Video of Sam explaining his state-as-price-setter model: Explainer on how central banks achieve their target interest rate via a “corridor” or “floor” system: Video explainer of the above: Recent update on the Reserve Bank of Australia’s interest-rate targeting regime: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): Episodes on quantitative easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs and banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT events and courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/32318327

#188 Election special with Dirk Ehnts 06/26/2024

#188 Election special with Dirk Ehnts 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 Monetary Theory and European Macroeconomics course (application deadline 19th July): August 27-29 MMT Summer school (Poznan, Poland): August 30 - September 2nd, 4th European MMT Conference (Berlin, Germany) no details published yet, but updates will be here: 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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: “MMT: A Simple Guide to the Monetary System” by Dirk Ehnts: For more on how commercial banks fit into the credit creation system, listen to episode 126 - Dirk Ehnts: How Banks Create Money: and episode 43 - Sam Levey: Understanding Endogenous Money: For more on the consensus among MMT economists on a permanent Zero Interest Rate Policy (ZIRP) for interbank lending, listen to Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Explainer on how central banks achieve their target interest rate via a “corridor” or “floor” system: Video explainer of the above: Recent update on the Reserve Bank of Australia’s interest-rate targeting regime: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs banking regulation: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/31862077

#187 Phil Armstrong: MMT & Austrian Economics (part 2) 05/29/2024

#187 Phil Armstrong: MMT & Austrian Economics (part 2) 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 Theory and European Macroeconomics course (application deadline 19th July): August 27-29 MMT Summer school (Poznan, Poland): August 30 - September 2nd, 4th European MMT Conference (Berlin, Germany) no details published yet, but updates will be here: 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 Money Lab’s online graduate, postgraduate and standalone courses in economics are here: Relevant to this episode: “History and origin of money in MMT and Austrian Economics: The difference methodology makes?” by Phil Armstrong: “Can Heterodox Economics Make a Difference?” by Phil Armstrong: Phil is co-author of “Modern Monetary Theory - Key Insights, Leading Thinkers” - order here: Our episode with Richard Tye on the evolution of the BoE “The Bank of England - The Prequel”: Introduction to ergodicity: For an intro to MMT: Our first three episodes: Episode 126 - Dirk Ehnts: How Banks Create Money: Quick MMT reads: Warren’s Mosler’s MMT white paper: Steven Hail’s quick MMT explainer: Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: Episodes on monetary operations: Episode 20 - Warren Mosler: The MMT Money Story (part 1): Episode 126 - Dirk Ehnts: How Banks Create Money: Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: Episode 43 - Sam Levey: Understanding Endogenous Money: Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: Episode 65 - Phil Armstrong: Understanding Inflation: Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: Our Job Guarantee episodes: Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: More on government bonds (and “vigilantes”): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): Episode 143 - Paul Sheard: What Is Quantitative Easing?: Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: Episode 145 - John T Harvey: What Determines Currency Prices?: More on bank runs: Episode 162 - Warren Mosler: Anatomy Of A Bank Run: Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again: Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: MMT Events And Courses: More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here: Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here: Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”: MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: MMT scholarship compiled by New Economic Perspectives: A list of MMT-informed campaigns and organisations worldwide: We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: Show notes: /episode/index/show/pileusmmt/id/31480327

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