Economies out there like Japan and the US are not behaving as classical money theory suggests they should. Our own government has issued £275 billion of new currency and nothing much happened. The data is suggesting strongly that we don't understand what is happening. Perhaps MMT explains it. At the moment I don't know.
Deficit spending 101 – Part 1
Deficit spending 101 – Part 2
Deficit spending 101 – Part 3
Will we really pay higher taxes?
Will we really pay higher interest rates?
Fiscal sustainability 101 – Part 1
Fiscal sustainability 101 – Part 2
Fiscal sustainability 101 – Part 3
Functional finance and modern monetary theory
Some more stuff here:
- Teaching the Fallacy of Composition: The Federal Budget Deficit, by L. Randall Wray
- 7 Deadly Innocent Frauds, by Warren Mosler
- In Defense of Deficits, by James K. Galbraith
A good overview from Pragmatic Capitalism:
The good Professor Scott with a primer on the operational realities of the monetary system
My own How the government's super platinum credit card works