Patricia & Christian talk to economist and author of “The Case For A Job Guarantee” Professor Pavlina Tcherneva about her chapter in the recently-published “MMT: Key Insights, Leading Thinkers”.
Three Lessons From Government Spending And The Post-Pandemic Recovery: (1) The funding is always there. (2) Unemployment is a policy choice. (3) Large government spending is not the inevitable source of inflation.
Also under discussion: the US debt ceiling drama, Universal Basic Income and more.
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Details of the MMT Summer school in Poznań, Poland (September 5th-7th): fundacjalipins... Website of the 3rd International European MMT Conference (Berlin, September 9th-10th: www.mmtconfere... To attend James K. Galbraith’s Keynote Lecture, (June 15th, 2023, 1-2:30pm) RSVP at the bottom of this page: edi.bard.edu/e...
Relevant to this episode:
All our episodes with Pavlina Tcherneva: / 44405631 Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: pavlina-tchern... Christian mentions Pavlina’s lecture where she describes the “original sin” of money systems (that they necessarily create unemployment). That’s in this episode, along with the route to “redemption” - Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: / episode-148-why-73211346 Pavlina mentions the NAIRU (Non-accelerating inflation rate of unemployment). More here: en.wikipedia.o...
For an intro to MMT:
Our first three episodes: / 41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: / 62603318
Quick MMT reads:
Warren’s Mosler’s MMT white paper: moslereconomics... Steven Hail’s quick MMT explainer: theconversatio... Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”: christreilly.c...
For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here: moslereconomics...
Episodes on monetary operations:
Episode 20 - Warren Mosler: The MMT Money Story (part 1): / 28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: / 62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: / 41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: / 35073683 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): / 46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): / 46865929
Episodes on inflation:
Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: / 41780508 Episode 65 - Phil Armstrong: Understanding Inflation: / 40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: / 52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: / 59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?: / 63776558
Our Job Guarantee episodes:
Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: / 41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: / 36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: / episode-148-why-73211346 Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page: pavlina-tchern...
More on government bonds (and “vigilantes”):
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