The Elgar companion to modern money theory / edited by Yeva Nersisyan (Associate Professor of Economics at Franklin and Marshall College, Research Scholar, Levy Economics Institute) and L. Randall Wray (Senior Scholar, Levy Economics Institute and Professor of Economics, Bard College, US).

Format:

Book

Contributor:

Nersisyan, Yeva, editor.

Wray, L. Randall, editor.

Edward Elgar Publishing, publisher.

Language:

English

Subjects (All):

Money--History.

Money.

Money--Social aspects.

Money--Economic aspects.

Money--Sociologoical aspects.

Economic development.

Genre:

Electronic books.

Physical Description:

1 online resource (490 pages)

Place of Publication:

Northampton : Edward Elgar Publishing, 2024.

Summary:

"This Companion is a comprehensive introduction to Modern Money Theory (MMT), covering a wide variety of topics from the nature and origins of money, to the fundamentals of government spending and taxation, to the application of MMT in developed and developing countries. Bringing together prominent MMT economists, The Elgar Companion to Modern Money Theory analyzes the crucial contemporary issues of financing the green transition, aging and social security, and job guarantee programs. Authors discuss government debt in the modern money system, the dynamics of fiscal deficits and debt, resource constraints, and macroeconomic policy. This forward-thinking Companion constructively responds to MMT critiques, advocating for the use of MMT principles to devise more effective and sustainable development policies for the future. This book is a crucial resource for students, academics, and researchers specializing in economics, political economics, political science, and the social sciences more broadly. Discussing practical examples alongside theory and related critique, The Elgar Companion to Modern Money Theory is also invaluable for economic policymakers and practitioners"-- Provided by publisher.

Contents:

Contents: Introduction to modern money theory / Yeva Nersisyan and L. Randall Wray

Section i. The nature and origins of money

1. On the nature and origins of money / Alla Semenova

2. Civic and temple origins of greek coinage / Michael Hudson

3. Modern money theory: Sociology and economics / Geoffrey Ingham

4. Redemption / Eric Tymoigne

5. The paper money of colonial america / Farley Grubb

6. Monetary dissent and the erasure of state power in American history / David M. P. Freund

7. Modern money theory and international law working together / John D. Haskell

Section ii. Modern money theory fundamentals

8. Modern money theory and economic theory / Eric Tymoigne

9. Consolidation technique / Eric Tymoigne

10. Sector financial balances and modern monetary theory / Robert W. Parenteau

11. Financial balances / Gennaro Zezza

12. Government debt in the modern money system / Joelle Leclaire

13. Unpacking the dynamics of fiscal deficits and debt / Martin Watts

14. Buffer stock approaches to inflation control / William Mitchell

15. The job guarantee: Modern money theory's proposal for full employment and price stability / Pavlina R. Tcherneva

16. Why hyman minsky matters for modern money theory / L. Randall Wray

Section iii. Resource constraints

17. Resource constraints / Sam Levey

18. Resource constraints and economic policy / Yeva Nersisyan

19. Why social security can't go "broke" / Kerry Pechter

20. The modern money theory approach to provisioning for an aging population / Yeva Nersisyan, Xinhua Liu and L. Randall Wray

Section iv. Modern money theory and the external sector

21. The modern monetary theory perspective on the external economy / William Mitchell

22. Modern money theory and exchange rates / John Harvey

23. Money, foreign exchange and the balance of payments / Michael Hudson

Section volume Modern money theory and economic development

24. Modern monetary theory as an analytical framework and a policy lens: An African perspective / Ndongo Samba Sylla

25. Harnessing sovereign money for development finance and solving the debt conundrum: The case of China / Yan Liang

26. Job guarantee as sustainable development policy: Balancing China's economic development and ecological civilization / Yijiang Huang

Section vi. Modern money theory and economic policy

27. The politics of apolitical money: Paul volcker and monetary policy in action / David Stein

28. Fiscal policy in the eurozone / Dirk Ehnts

29. Sovereign currency and non-sovereign budgets: The modern money theory approach to provincial, state, and local government budgets / L. Randall Wray

30. Is overt monetary financing a viable option in the post-pandemic era? / Martin Watts

31. Electricity provisioning under the green new deal: A modern monetary theory approach / Avraham I. Baranes and Mitchell R. Green

32. The regional job guarantee: Fostering economic democracy and promoting public participation / Michael J. Murray

Section vii. Responses to critics

33. Modern money theory and the monetary system: A response to critics / Eric Tymoigne

34. Modern money theory policymaking praxis: A response to critics / Eric Tymoigne

35. Modern money theory policymaking praxis and financial and economic stability: A response to critics / Eric Tymoigne

Index.

Notes:

Includes bibliographical references and index.

ISBN:

9781788972246 (e-book)

Access Restriction:

Restricted for use by site license.