Monetary Theory

This panel exposes flawed assumptions of Modern Monetary Theory, including the origins of money, government spending, job guarantees, entrepreneurship, and economic growth.

This episode explores the economic implications of deflation, debunking the mainstream fear that falling prices cripple economic growth.

While MMT advocates claim special knowledge, the irony is that they don't understand money at all. Like all progressive statists, they fail to comprehend the economic damage done through their “modern” monetary manipulations.

Isaac Newton is best known for his development of mathematics and physics, but he also took a keen interest in economics, especially the relationship of money to economic exchange. He also believed that economic laws, like gravity, were immutable.

No macroeconomics or monetary theory course is complete without introduction of the Equation of Exchange, or MV = PQ. However, this equation explains nothing, praxeologically speaking. Instead, it clouds our understanding of how money fits into our economy. 

Elon Musk‘s latest comments on money make the same errors as we saw with Milton Friedman and the Monetarists. If Musk really wants to understand money, he needs to read Murray Rothbard and Ludwig von Mises.

Jonathan Newman appears on the show to discuss Bob's recent debate on ZeroHedge, which centered on Austrian economics versus Modern Monetary Theory (MMT).

Bitcoin is many things to people and it certainly has developed into a valuable asset. It also has been used as a medium of exchange. But is it money? According to Austrian economics, the answer is “no.” At least not yet.

It should be clear from the articles in this book that the Austrian School is thriving. Per Bylund has rendered a great service in bringing the scholarship in A Modern Guide to Austrian Economics to our attention.

No macroeconomics or monetary theory course is complete without introduction of the Equation of Exchange, or MV = PQ. However, this equation explains nothing, praxeologically speaking. Instead, it clouds our understanding of how money fits into our economy.