Not-So-Modern Monetary Theory
MMT “is a mix of old and new, the old is correct and well understood, while the new is substantially wrong.”
MMT “is a mix of old and new, the old is correct and well understood, while the new is substantially wrong.”
Some people — including Donald Trump — think the dollar is too strong, and many propose the creation of a new version of the Plaza Accord, i.e., a multilateral agreement that includes coordinated intervention in foreign exchange markets.
Without a turn toward hard money, the odds are that the world’s dependence on the Greenback will not decline but presumably grow even more in the years to come.
Central banks pretend all these benefits come at no cost to anyone. Unfortunately, we all ultimately pay the price.
The depreciation of the yuan since 2014 is more of a response to market movements than a planned devaluation to gain competitiveness illegitimately.
In a true market — i.e., without a central bank — banks are intermediaries of real savings in their lending activities, thus promoting genuine and real economic growth.
Economist Bob Murphy joins Jeff Deist to make sense of the nonsensical world of negative interest rates.
The movement for alternative money is the result of the history of government monetary mismanagement.
Not only does fractional-reserve banking gives rise to monetary inflation it is also responsible for monetary deflation. Money created out of "thin air" can disappear as rapidly as it was created.
To cause a truly disastrous boom and bust with far-fetching real consequences, you need to control the money supply.