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Wednesday, March 3, 2021

Modern Monetary Theory and the Recovery: March 11 E-Book Release

 

My latest book Modern Monetary Theory and the Recovery will be released on March 11, 2021 in e-book formats. It is available for pre-order at Amazon, Kobo, Apple, and others to be added. The paperback edition will be available in about a month. 

The book outlines the causes of slow growth that has plagued the developed economies since the early 1990s, and looks at policy recommendations from Modern Monetary Theory (MMT) designed to break out of this rut. It also outlines the contents of MMT from a somewhat more advanced perspective, aimed at readers with knowledge of economics but not MMT in particular. It concludes with a chapter of critiques of MMT.

Description

The book is roughly 50,000 words, and the paperback (formatting still in progress) is 143 pages, excluding end matter.

Instead of using footnotes or endnotes, the text places references at the end of sections. References are weighted towards books and articles that are accessible by those without access to a research library. 

Book Sections

Chapter 1 Overview
1.1 Introduction
1.2 What Is MMT? (Short Version)
1.3 MMT Politics
1.4 About this Book
Chapter 2 The Era of Sluggish Recoveries
2.1 Introduction
2.2 Labour Market Evolution
2.3 NAIRU, and Other Will-o’-the-Wisps
2.4 The Drift to Austerity
2.5 The Rise and Decline of Inflation Targeting
Chapter 3 Doing Better
3.1 Introduction
3.2 Fiscal Policy Reform
3.3 The Job Guarantee
3.4 Green New Deal
3.5 Changing Governmental Financing Procedures
3.6 Guessing About the Future
Chapter 4 What Is MMT? (Longer Version)
4.1 Introduction
4.2 The Mosler White Paper
4.3 Price Level Determination
4.4 Fiscal Sustainability
4.5 Theory of Inflation
4.6 Broad MMT
Chapter 5 Frequently Raised Critiques
5.1 Introduction
5.2 Non-Answerable Critiques
5.3 Rhetorical Tricks (and Money Printing)
5.4 Need to Lie to Politicians and Voters
5.5 Inflation Worries
5.6 Active Fiscal Policy Required?
5.7 MMT Ignores the Banking System?
5.8 Post-Keynesian Squabbling
5.9 Net Financial Asset Skepticism
5.10 Only Applicable to United States?
5.11 Replication in a Neoclassical Framework?
5.12 Nothing New?

Paperback Status

At the time of writing (March 4), the paperback is undergoing its final formatting and index creation (e-book readers have a search facility, hence no index). I want to see a printed proof of the paperback before releasing to the public, as figures had been mangled by an internal processing step at the printer in an earlier incident, and I want to avoid a repeat. Release date is uncertain, but it should be within a month.

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