MODERN MONETARY THEORY

Understanding modern money: a prerequisite for innovative policy design

Does the size of the U.S. government debt and deficit keep you up at night? Read this first.

"An Antidote to Deficit Phobia" [pdf]

Journal Articles and Book Chapters
"Completing the Euro: The Euro Treasury and the Job Guarantee" (with Cruz-Hidalgo and Ehnts) in Revista Economia Critica, 2019 (27): 100-111
Money, Power and Distribution: Implications for Different Monetary Regimes,” Journal of Self-Governance and Management Economics, 2017, 5(3): 7–27
Bernanke's Paradox: Can he reconcile his position on the federal budget with his recent charge to prevent deflation?,” Journal of Post Keynesian Economics, April 2011 (lead article) 33 (3): 411-433.
Chartalism and the Tax-Driven Approach to Money,” in P. Arestis and M. Sawyer (eds.) Handbook of Alternative Monetary Economics, Northampton, MA: Edward Elgar, 2006.
Monopoly Money: The State as a Price Setter,” Oeconomicus, Winter 2002, Vol. 5: 124-143.“
Money: A Comparison of the Post Keynesian and Orthodox Approaches,” Oeconomicus, Winter 2001, Vol. 4: 109-114.