Explaining MMT and Debunking AMI: Positive Money

New Economic Perspectives has a post MMT and Debunking AMI: Positive Money . (Modern Money Theory, American Monetary Institute)

Steve Grumbine talks with NEP’s L. Randall Wray for Real Progressives LIVE. Topics include MMT and Debunking AMI: Positive Money and other important and relevant economic issues that affect the progressive agenda.

Here is the YouTube video of the conversation.

This is a wonderful interview that will introduce so many people about what Modern Money Theory is all about, and why it is so important for us all to understand it. That being said, let me go on to one suggestion for improvement that I have.

The one thing I think needed to be discussed and analyzed was the inflationary period from the end of LBJ’s term through Nixon, Ford, and Carter, and into the Reagan administration. To state that the last time we faced resource constraints was WW II might turn people off who remember the LBJ to Reagan period. I know MMT and Wray can explain it, so I think that omission needs to be fixed quickly.

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