Professor Stephanie Kelton is the leading light of a bizarre proposal known as modern monetary theory. Government deficits are a “myth,” because they don’t matter, because they never need to be repaid. Gordon disabuses this magical thinking.
Presented at Mises University 2020.
Bob wrote a lengthy review of Stephanie Kelton's new book on MMT, The Deficit Myth, for the Mises Institute. In this episode he narrates his review.
In this short essay recently found in the Mises Institute Archives, Mises goes over the basics of monetary theory and shows why the concept of velocity of circulation is useless for understanding changes in the purchasing power of the monetary unit.
The good news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever. The bad news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever.
The good news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever. The bad news is that Stephanie Kelton has written a book on MMT that is very readable and will strike many readers as persuasive and clever.
Price inflation is so difficult to predict, because there are so many moving parts: money supply, demand, money velocity, and supply of goods and services.
In the latest installment of Understanding Money Mechanics, Robert Murphy explains what Bitcoin is, how it works, and how it fits into Misesian monetary theory.
