Summary
This book explains how central banks, banks and governments create money. Written in an accessible style, this book provides an introduction to modern monetary theory without requiring any prior knowledge of economics. It covers the most important aspects of monetary theory, including inflation targeting, government spending, and international trade, as well as economic policy to achieve macroeconomic goals, such as price stability, full employment and sustainable use of resources. Accordingly, it offers a valuable asset for students of economics, central bankers, banking professionals, and academics alike.
Contents
Chapter 1. Introduction
Chapter 2. The Biden Administration and the Copernican Turn
Chapter 3. The paper currency of Virginia (1760s) and its lessons
Chapter 4. Modern Money Theory as Part of Economics
Chapter 5. What is economic policy?
Chapter 6. Economic policies based on MMT
Chapter 7. Outlook.