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. This is the third part in Chapter 6 on Flow-of-Funds and Sectoral Balances. The first two installments were:
▪ Sectoral balances – Part 1
▪ Sectoral balances – Part 2
This blog builds directly onto Part 2.
A graphical framework for understanding the sectoral balancesBill Mitchell — billy blog
Sectoral balances – Part 3