Thursday, July 26, 2012

History of MMT and the euro, 1996 Bretton Woods Conference

From Warren Mosler: *History of MMT and the euro, 1996 Bretton Woods Conference

Worth reprinting far & wide.
This all got briefly forgotten in the rush to capitalize on .. er loot, after .. the shattering of Glass Steagall.

The truth can't set anyone free if it is deliberately archived, unused.

[Note: they even sent goods & news back in time on the 2nd day! :) ]

---------- Forwarded message ----------
From: Warren Mosler:

Found this on the net in the PK archives. Shows MMT was on it well before this date.
Feel free to distribute

To:  PKT Academics
Re:  Bretton Woods Conference

Confirmed attendance includes senior staff from Deutchebank,
Credit Suisse, J.P. Morgan, Banker's Trust, Salomon Bros,
Lehman Bros, Harvard Management, III, Petrus, Paine Webber,
Paribas, and BZW.  A keynote speaker will be Professor Charles
Goodhart from the LSE.  Bernard Connolly will be the historian.
Speakers for each topic are currently being arranged.

There is currently room for two academic representatives.
Please contact me at mosler@xxxxxxxx if you have interest.


                 An Invitational Conference

                Bretton Woods, New Hampshire

                    June 12-15, 1996

The purpose of this conference is to bring together a selected
        group of portfolio managers, analysts, researchers
        traders, and academics who have a common understanding
        of monetary operations.

The objective of this conference is to achieve agreement on the use
        of a common conceptual framework for undertaking
        contemporary macroeconomic analysis.

Portfolio managers in attendance are responsible for well over
        $50 billion in assets.  The economists and analysts from the
        international dealer community represent some of the world?s
        largest and most sophisticated fixed income trading and sales

We believe that this group has the potential to establish an international
        standard for the presentation and analysis of economic data.

Several of the fundamentals are  Post Keynesian...

                Deposit money is endogenous
                Central Banks set short term rates exogenously
                Deposits exist solely as the result of loans

Extension of these fundamentals includes...                             
                Internal sovereign debt functions as interest
                    rate support
                Taxes create a demand for the goverment's
                Fiat currency is defined exogenously

Conference Moderator........Warren B. Mosler

Wednesday, June 12, 1996

   11:30 AM     Welcome and Introduction        
   12:00 PM     Luncheon
   12:30 PM     History of the Awareness of Monetary Operations
               Charles Goodheart

                     MONETARY OPERATIONS

    1:00 PM     Review of the Fundamentals of Monetary Operations       
    1:30 PM     Monetary Policy Options

    2:00 PM     The function of Government Securities
    2:30 PM     Currency Definition                             
    3:00 PM     Fiscal Policy Options and  Implications
                      EXTERNAL DEBT

    3:30 PM     Review of Current Conditions            
    4:00 PM     Macro-economic Implications             
    4:30 PM     World Bank, IMF Policy Implications     
    6:00 PM     Hor?s d?ouvres
    7:00 PM     Dinner                                                  


    9:00 AM     Integrating Foreign Trade, Investment, Fiscal and Monetary
   10:00 AM     Full Employment, Zero Inflation Model                   
   11:30 AM     Lunch


    1:00 PM     Current Political Situation                             
                      Bernard Connolly
    2:00 PM     Maastricht Fiscal Criteria Implications                 
    3:00 PM     Post 1999 Credit Implications                           
    3:30 PM     Functionality of the Euro                               
    4:30 PM     Drafting a Consensus
    6:00 PM     Hor?s d?Ouvres
    7:00 PM     Dinner

FRIDAY, JUNE 14, 1995

                Review and Discussion

Warren B. Mosler
Director of Economic Analysis
III Finance

See "Soft Currency Economics:"

ps:  SCE now published at Soft Currency Economics

No comments: