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“MYTH #3: One way or another, we’re all on the hook. REALITY: The national debt poses no financial burden whatsoever.”
― The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy
― The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy
“the greater the credit expansion and the longer it lasts, the longer will the boom last. The boom will end when bank credit expansion finally stops. Evidently, the longer the boom goes on the more wasteful the errors committed, and the longer and more severe will be the necessary depression readjustment.”
― America's Great Depression
― America's Great Depression
“Demand may be a suitable subject for psychologists, supply may be the province of engineers or management scientists; both are beyond the scope of economics.”
― The Crash of 2008 and What it Means: The New Paradigm for Financial Markets
― The Crash of 2008 and What it Means: The New Paradigm for Financial Markets
“business cycles and depressions stem from disturbances generated in the market by monetary intervention. The monetary theory holds that money and credit-expansion, launched by the banking system, causes booms and busts.”
― America's Great Depression
― America's Great Depression
“The government doesn’t want dollars,” Mosler explained. “It wants something else.” “What does it want?” I asked. “It wants to provision itself,” he replied. “The tax isn’t there to raise money. It’s there to get people working and producing things for the government.”
― The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy
― The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy
JDMMT’s 2024 Year in Books
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