We will continue where we left off with a look at budget deficits, surpluses and the national debt. Previously, we’ve discussed US Dollars, what they are, where they come from, how they enter and leave the US economy, and US paper currency. In case you’ve been linked to this particular article, here is the series so far:
Ellis Winningham — MMT and Modern Macroeconomics
Introductory Series: The Monetary System – US Currency Part 1
Introductory Series: The Monetary System – US Currency Part 2
Introductory Series: The Monetary System – US Paper Currency
Also, let me restate the purpose of this series. The purpose of this introductory series is two-fold: Firstly, for those students considering economics as a major, the series will give you a solid understanding of the basics from which macroeconomic reality flows. In other words, from the get go, you won’t fall for mainstream fantasy, and then one day, obtain an influential position in government where you will create recessions and high unemployment for a living and then deny responsibility. Secondly, for the general public and interested laypersons who do not wish to be economists, but rather, who do wish to obtain a firm grasp on the basics of how federal spending and the monetary system actually works. Following today’s discussion, we will then take a look at other aspects of the monetary system, including banking operation and central bank operations, as well as a look at how the monetary system applies to Social Security. Let’s get started.…
Introductory Series: The Monetary System – US Currency Part 3
Ellis Winningham
1 comment:
Good stuff and very accessible as usual. Ellis is creating a lot of excellent material.
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