Overview

Providing an up-to-date account of Modern Monetary Theory (MMT) with contributions from the world’s leading experts, each chapter offers new insights on the topic, building upon MMT’s established body of work. This innovative book analyses key economic issues from a wide set of regions including the UK, Europe and the Global South, addressing previous concerns that MMT is too US-focused. Alongside ground-breaking research written by MMT’s original developers and leading academics, the book also includes contributions from economic historians and public policy campaigners, highlighting how MMT contributes to challenging neoliberalism and the hegemony of mainstream macroeconomics. Offering an examination of the existing legal, institutional and policy framework which governs the UK Exchequer in particular, it examines how the central claims of MMT map onto the financial activities of the UK government. This will be key reading for undergraduate and postgraduate economics students, as well as more advanced scholars of the discipline, particularly for those looking into theories of finance, money and banking. It will also have a wider appeal across the social sciences, including politics and sociology students.

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9781802208085

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Reviews

‘This is a fascinating, eclectic group of professional papers in which the reader may explore both the first principles of Modern Monetary Theory and many institutional and historical details that lend weight to the conceptual framework. This book is a landmark in the development of MMT, a boon for “useful” economists -- and a profound challenge to all the others.’ -- James K. Galbraith, The University of Texas at Austin, US ‘This book brings together insights from MMT scholars from all over the world, examining the economy of the UK as well as the global economy and providing us with much needed insights about how to manage our economies.’ -- Dirk Ehnts, Fachhochschule Magedburrg-Stendal, Germany

'This is a fascinating, eclectic group of professional papers in which the reader may explore both the first principles of Modern Monetary Theory and many institutional and historical details that lend weight to the conceptual framework. This book is a landmark in the development of MMT, a boon for useful economists -- and a profound challenge to all the others.' -- James K. Galbraith, The University of Texas at Austin, US 'This book brings together insights from MMT scholars from all over the world, examining the economy of the UK as well as the global economy and providing us with much needed insights about how to manage our economies.' -- Dirk Ehnts, Fachhochschule Magedburrg-Stendal, Germany

Author Information

Edited by L. Randall Wray, Senior Scholar, Levy Economics Institute; Professor of Economics, Bard College, US, Phil Armstrong, York College, UK, Sara Holland, Founder, Claire Jackson-Prior, Founder, Prue Plumridge, Founder and Neil Wilson, Associate, The Gower Initiative for Modern Money Studies, UK

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