Monetary Theory

What we may call the “spending illusion” is perhaps the gravest error in the history of economic thought and has been deeply embedded in economics since the early twentieth century.

Jason Purcell joins Bob to discuss his historical analysis of yield curves (in both UK and US) going back to the 1870s, which shows that central banks do indeed manipulate short-term interest rates.

Bob critiques MMT godfather Warren Mosler's recent interview where he argued that the Fed rate hikes have been fueling the strong economy.

A state without money or a state that must tax its citizens to raise money for its wars is necessarily limited in its imperial ambitions. Keep in mind that this is only a problem for the state.

Stephanie Kelton, the most visible promoter of MMT, is being derelict in her academic duties by not replying to Per Bylund’s critique of her theories in the Quarterly Journal of Austrian Economics.

Stephanie Kelton, the most visible promoter of MMT, is being derelict in her academic duties by not replying to Per Bylund’s critique of her theories in the Quarterly Journal of Austrian Economics.

Jonathan Newman returns to help Bob dissect a Twitter thread melting down about Rep. Massie's new bill to End the Fed.

Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.

Mises Fellow, Mateusz "Matt" Machaj joins Bob to discuss his new booklet from Routledge, which explains how mainstream economists have responded to the recent bout of price inflation.

Mainstream economists claim money has purchasing power because the government issuing the money has so declared. That makes no sense.