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Soft Currency Economics (aka Modern Monetary Theory)

Welcome to the Soft Currency Economics. Feel free to explore. If you want to know “what is money” and “what is monetary policy”, you are very welcomed.  I am grateful that you are here.  

After being educated on Soft Currency Economics, also known as Modern Monetary Theory (MMT), you may very well conclude that we currently run our monetary and fiscal operations backwards. Moreover if you understand what I teach, you will probably strive to help effectuate a government mandate where anyone who wants a job will find a job, NO IFS AND BUTS. One hour of labor productivity lost is an hour of labor productivity than can never be recovered. Also, you understand that the Federal Government is not revenue constrained – it does not need to tax or borrow in order to spend.

If you want to watch the video on the home page click on the “volume up” button at the top of the page (it is muted at start) and also the click the “hide text” button. The video is about 25 minutes long, but you should find it worth the time. A longer version can be found on the video page. I have authored two books, Soft Currency Economics, which is the foundation for Modern Monetary Theory (MMT) and The 7 Deadly Innocent Frauds of Economic Policy, which some say may very well be the best book written on macroeconomics.

I think that the books will definitely challenge what you have been taught about economics.  All I can tell you is that operations’ persons at the Fed and the banks understand what I discuss, but for some reason the political operatives and those that advise them do not. If you read The 7 Deadly Innocent Frauds you will get the understanding that much of what happens in Washington is driven by special interest groups and the reason why there is a desire to propagate a misunderstanding on how the economy operates is because the special interest groups want to take control away from the government.