Modern Monetary Theory – Bill and Warren’s Excellent Adventure
My latest book co-authored by fellow MMT founder Warren Mosler is now available.
It was published in July 2024 by Lola Books, a Berlin-based publisher.
The cover was drawn by a friend in Tokyo – Mihana – the manga artist who works with me on the – The Smith Family and their Adventures with Money.
The description of the contents is:
In this book, William Mitchell and Warren Mosler, original proponents of what’s come to be known as Modern Monetary Theory (MMT), discuss their perspectives about how MMT has evolved over the last 30 years,
In a delightful, entertaining, and informative way, Bill and Warren reminisce about how, from vastly different backgrounds, they came together to develop MMT. They consider the history and personalities of the MMT community, including anecdotal discussions of various academics who took up MMT and who have gone off in their own directions that depart from MMT’s core logic.
A very much needed book that provides the reader with a fundamental understanding of the original logic behind ‘The MMT Money Story’ including the role of coercive taxation, the source of unemployment, the source of the price level, and the imperative of the Job Guarantee as the essence of a progressive society – the essence of Bill and Warren’s excellent adventure.
The introduction is written by British academic Phil Armstrong.
You can find more information about the book from the publishers page – HERE.
You can pre-order a copy to make sure you are part of the first print run by E-mailing: info@lolabooks.eu
Macroeconomics
The new Modern Monetary Theory textbook – Macroeconomics – authored by myself, Randy Wray and Martin Watts, was published by Macmillan on February 25, 2019.
I launched the new publication in London on Friday, March 1, 2019.
It is available for purchase at all bookstores including:
1. Macmillan.
3. Amazon
If you purchase from Macmillan you are not dealing with Amazon etc.
Introductory Video
Here is a short video introducing the features of the new textbook.
Table of Contents
The book provides a structured two-semester sequence (probably more) in macroeconomics at the university-level.
The narrative is accessible to students of all backgrounds and all mathematical and advanced material can be avoided if desired.
PART A: INTRODUCTION & MEASUREMENT
1 Introduction
2 How to Think and Do Macroeconomics
3 A Brief Overview of the Economic History and the Rise of Capitalism
4 The System of National Income and Product Accounts
5 Labour Market Concepts and Measurement
6 Sectoral Accounting and the Flow of Funds
7 Methods, Tools and Techniques
8 Framing and Language in Macroeconomics
PART B: CURRENCY, MONEY & BANKING
9 Introduction to Sovereign Currency: The Government and its Money
10 Money and Banking
PART C: NATIONAL INCOME, OUTPUT AND EMPLOYMENT DETERMINATION
11 The Classical System
12 Mr Keynes and the ‘Classics’
13 The Theory of Effective Demand
14 The Macroeconomic Demand for Labour
15 The Aggregate Expenditure Model
16 Aggregate Supply
PART D UNEMPLOYMENT AND INFLATION: THEORY AND POLICY
17 Unemployment and Inflation
18 The Phillips Curve and Beyond
19 Full Employment Policy
PART E ECONOMIC POLICY IN AN OPEN ECONOMY
20 Introduction to Monetary and Fiscal Policy Operations
21 Fiscal Policy in Sovereign Nations
22 Fiscal Space and Fiscal Sustainability
23 Monetary Policy in Sovereign Nations
24 Policy in an Open Economy: Exchange Rates, Balance of Payments and Competitiveness
PART F ECONOMIC INSTABILITY
25 The Role of Investment in Profit Generation
26 Stabilising the Unstable Economy
PART G HISTORY OF MACROECONOMIC THOUGHT
27 Overview of the History of Economic Thought
28 The IS-LM Framework.- 29 Modern Schools of Economic Thought
30 The New Monetary Consensus in Macroeconomics
PART H CONTEMPORARY DEBATES
31 Recent Policy Debates
32 Macroeconomics in the Light of the Global Financial Crisis
33 Macroeconomics for the Future.