I am now using Friday’s blog space to provide draft versions of the Modern Monetary Theory textbook that I am writing with my colleague and friend Randy Wray. We expect to complete the text by the end of this year. Comments are always welcome. Remember this is a textbook aimed at undergraduate students and so the writing will be different from my usual blog free-for-all. Note also that the text I post is just the work I am doing by way of the first draft so the material posted will not represent the complete text. Further it will change once the two of us have edited it.
[NOTE: The redux notation in the title refers to re-edits of earlier blogs with the same title. At present, the updated Chapter starts from Aggregate demand – Part 5 (redux) and continues today. Earlier Parts in the Aggregate Demand series are redundant and should be ignored].Bill Mitchell — billy blog
Aggregate demand – Part 6 (redux)