True Economics Applied in the Real World
Monetary economics covers market events and phenomena that are mostly related to changes in the supply or the nature of the medium of exchange, money. In particular it deals with the effects of a government imposed fiat money versus a money that has prevailed on the free market.
Nima and Dylan discuss criticisms of MMT.
Sources:
MMT: A Rebuttal To The Theory & It’s Primary Stances (https://think-liberty.com/opinion/mmt-challenged/)
Debt: The First 5,000 Years (https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290)
Tragedy & Hope (https://www.infowarsstore.com/infowars-media/books/tragedy-hope.html)
Nima and Dylan discuss cryptocurrencies and other private currency concepts, and whether or not those are consistent with Modern Monetary Theory (MMT).
References:
How the Fiat Money System Can Explain Bitcoin’s Value (https://beinglibertarian.com/fiat-money-system-can-explain-bitcoins-value/)
Empiricism Shatters the Barter Theory of Money (https://www.economicsjunkie.com/empiricism-shatters-barter-theory-money/)
In Episode 2 Nima of EconomicsJunkie.com and Dylan of the Volitional Science Network discuss Modern Monetary Theory (MMT), in particular the so called Federal Job Guarantee. Topics discussed: What is unemployment? Does the state have a responsibility to address it? Can such a program work in a libertarian small government? And who’s going to pay for it all?
References:
Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, by L. Randall Wray (https://www.amazon.com/Modern-Money-Theory-Macroeconomics-Sovereign/dp/0230368891)
Debt: The First 5,000 Years, by David Graeber (https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290)
How Government Budget Surpluses Can Cause Economic Depressions (https://www.economicsjunkie.com/government-budget-surpluses-can-cause-economic-depressions/)
I had a great conversation with Dylan and Vinnie on the Think Liberty podcast. We talked about MMT, cryptocurrency, anarchism, government, and DUNE. You are literally insane if you don’t listen to this great convo!
