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The Elgar Companion to Modern Money Theory
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.
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Critical Acclaim
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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.
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.
Critical Acclaim
‘Mainstream economics treats capitalism as a barter system, and portrays the state and private sectors as always antagonistic. MMT shows that capitalism is inherently monetary, and that the state''s creation of fiat money is essential to the proper functioning of the private sector. The book''s chapters cover everything from the evolution of money from religious practices – not barter – to the proper management of the modern monetary system, which is something that mainstream economists have never understood.’
– Steve Keen, University College London, UK
‘This book is a feast, remarkable for range and clarity. Its expositions of Modern Monetary Theory situate MMT firmly in monetary history, in economic theory, and in current policy disputes. A powerful refutation of mainstream dogmas, this Elgar Companion is the indispensable and definitive reference for the field.’
– James K. Galbraith, The University of Texas at Austin, US
– Steve Keen, University College London, UK
‘This book is a feast, remarkable for range and clarity. Its expositions of Modern Monetary Theory situate MMT firmly in monetary history, in economic theory, and in current policy disputes. A powerful refutation of mainstream dogmas, this Elgar Companion is the indispensable and definitive reference for the field.’
– James K. Galbraith, The University of Texas at Austin, US
