Bill Mitchell — Unemployment and inflation – Part 2

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 during 2013 (to be ready in draft form for second semester teaching). 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 second part of a Chapter on unemployment and inflation – the first part was:Unemployment and inflation – Part 1

I am now continuing Section 12.5 on the Quantity Theory of Money …

Chapter 12 – Unemployment and Inflation

MATERIAL HERE NOT REPEATED.

12.5 The Quantity Theory of Money

Bill Mitchell — billy blog

Unemployment and inflation – Part 2

Bill Mitchell