Modern Monetary Theory : A Comprehensive and Constructive Criticism.

Format:

Book

Author/Creator:

Espinosa, Eduardo Garzón.

Language:

English

Subjects (All):

Monetary policy.

Money.

Physical Description:

1 online resource (193 pages)

Edition:

1st ed.

Place of Publication:

Milton : Taylor & Francis Group, 2024.

Summary:

"This book offers a rigorous, detailed and balanced analysis of the various contributions to the Modern Monetary Theory debate, incorporating both the arguments of proponents and those who point to its limitations and obstacles. Modern Monetary Theory has soared in popularity, particularly in response to the covid-19 pandemic and subsequent impacts to the economy which have led to deeper discussions about monetary and financial systems, fiscal and monetary policies, inflation and employment. The main characteristic of Modern Monetary Theory is that it offers a revolutionary way of thinking about all these issues, allowing us to abandon many of the myths that conventional economic theory installed in the collective imagination. Breaking down these false beliefs is an essential requirement to think and devise economic policy proposals that allow full employment to be achieved without suffering worrying inflation rates. However, this approach has also attratced many criticisms and it is also instructive to consider these in more detail to reach a fully rounded conclusion about the potential or merits of MMT. Written to be accessible to the non-economist, this book will be of great interest to readers from across the social sciences, and outside of academia who want to gain a fuller understanding of the Modern Monetary Theory phenomenon"-- Provided by publisher.

Contents:

Cover

Half Title

Title Page

Copyright Page

Table of Contents

Introduction

Refernces

Chapter 1 Modern Monetary Theory's view of the origin of money and its criticisms

Vision of commodity money

Marx's commodity money

Critique of the commodity money view

Credits and debts

Primitive money

Money in class society

Temples and palaces in Mesopotamia

Silver

General-purpose money

Criticisms

Conclusions

Notes

References

Chapter 2 Modern Monetary Theory's view of the nature of money and its criticisms

The beginnings of chartalism

Neo-chartalism (or MMT chartalism)

Taxes

Criticisms of taxation driving money

Criticisms of the determination of the value of money

Chapter 3 Modern Monetary Theory's view of monetary sovereignty and its criticisms

Money issuers and users

Political sovereignty

Response to criticisms

Note

Chapter 4 Modern Monetary Theory's view of the deficits and public debt and its criticisms

Different views on public deficits

MMT's view of the public deficit

Public debt

Chapter 5 Modern Monetary Theory's view of the bank and endogenous money and its criticisms

Debt pyramid

Bank money

Endogenous money

Chapter 6 Functional Finance and Modern Monetary Theory's view of the inflation and its criticisms

Functional Finance

Sectoral balances

Monetary policy subordinated to fiscal policy

Political assessment and supply-side inflation

Pandemic-era inflation

Criticism of sectoral balances

References.

Chapter 7 Job Guarantee: The path to full employment of Modern Monetary Theory and its critics

Job Guarantee

Final conclusions

Index.

Notes:

Description based on publisher supplied metadata and other sources.

Other Format:

Print version: Espinosa, Eduardo Garzón Modern Monetary Theory

ISBN:

9781003371809

1003371809

9781003860280

1003860281

9781003860259

1003860257

OCLC:

1419290313