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Modern Monetary Theory is something so simple yet so complex all at the same time, it does really involve divorcing your mind from how you personally interact with money to ultimately grasp how cash works at an economy-wide level.

A lot of supporters of the theory push it as a cure-all to any economic ailments, and you know what with the money printers firing away like they are right now we may finally get a chance to find out if they are correct, but in reality, it’s not a prescription to fix a broken economy as much as it is an insight into how modern economies work.

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📚 Want to learn more about Modern Monetary Theory? We recommend reading "Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, Second Edition", by L. Randall Wray 👉 https://amzn.to/2A6AGVl (as an Amazon Associate, we earn from qualifying purchases)

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#Stimulus #MoneyPrinter #Recession

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Sources & Citations -

Luther, W.J., 2018. Is bitcoin intrinsically worthless?. AIER Sound Money Project Working Paper

Duffy, J. and Ochs, J., 2002. Intrinsically worthless objects as media of exchange: Experimental evidence. International Economic Review

Ritter, J.A., 1995. The transition from barter to fiat money. The American Economic Review

McCabe, K.A., 1989. Fiat money as a store of value in an experimental market. Journal of Economic Behavior & Organization

Palley, T.I., 2015. Money, fiscal policy, and interest rates: A critique of Modern Monetary Theory. Review of Political Economy

Visser, H., 1991. Modern monetary theory

Tsiang, S.C., 1989. The monetary theoretic foundation of the modern monetary approach to the balance of payments. In Finance Constraints and the Theory of Money

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