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The American Empire in a Changing World



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Monday, October 10, 2011

'Understanding The Modern Monetary System'

from pragcap........


"Warning – This subject is very dense, highly complex and counterintuitive to much of neoclassical economics. Because it requires a substantial time investment I would recommend preparing yourself to spend several hours (or even days) on the material before getting overwhelmed by it. The discussion forum also covers many of the common misconceptions when first confronting this subject.  Novice investors, economists and layman might be interested in reviewing the video introduction to MMT which can be found in the media section on the website".  

"In this paper I will explain why Functional Finance and Modern Monetary Theory best describe most modern fiat monetary systems. The systems that are applicable to this discussion include nations which are monetarily autonomous, are monopoly suppliers of their own currency and exist within a freely floating exchange rate system. For this discussion, I will focus primarily on the USA although this subject can be applied to many other nations throughout the world"..........READ MORE

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