My podcast for Friday, May 24. Joe Firestone. Matt Franko calls in, too!

My podcast for July 24, 2015. Joe Firestone. Matt Franko.



Joe's book is entitled, "Declarations of Dependence: Trade Tyranny, Sovereignty, and Democracy."

Buy Joe's book!

New Book: Randy Wray — Theories of Money and Banking

This authoritative two-volume collection brings together the most important contributions to theories of money and banking written over the past century. Professor Wray covers a number of key topics including the historical debates about the nature of money, the role money and financial institutions play in the economy and monetary policy formation. A wide variety of approaches to money and banking are featured, among which are Monetarist, Keynesian, Marxian, Post-Keynesian and Institutionalist, and the New Monetary Consensus. Also included are a number of chapters presenting General Equilibrium, Chartalist or State Money, and Circuitiste views. In addition to the views of economists, this well-rounded set incorporates historical, sociological and anthropological approaches to money as well as theoretical topics such as interest rate, inflation rate, and exchange rate determination. This collection, along with an original introduction by the editor, will be of immense value to anyone with an interest in the field of money and banking.

Theories of Money and Banking (International Library of Critical Writings in Economics series), edited by L. Randall Wray, Elgar, 2012

Positive Money — New book ‘Modernising Money’ is out now

After two years of research, and writing, and more research, and more writing, Andrew Jackson and Ben Dyson have completed the book ‘Modernising Money’, which documents, in more detail than ever before, exactly how we could fix the monetary system for the benefit of business, society, and the environment. These proposals offer one of the few hopes of escaping from our current dysfunctional monetary system. And today, the book is available on sale.

Positive Money
New book ‘Modernising Money’ is out now

Michael Hudson — Overview: The Bubble and Beyond

Michael Hudson just posted the TOC and a summary of his new book.

Michael Hudson
Overview: The Bubble and Beyond
Michael Hudson

Michael Hudson announces availability of new book, The Bubble and Beyond

The Bubble and Beyond by Michael Hudson

Woo Hoo! Stupendous MMT News From Bill Mitchell

Today I am departing from usual practice. I have decided to use 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. So each Friday I will publish the work I have been doing on it during the previous week in between the other work that I am pursuing. 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. Anyway, this is what I wrote today.

Go get it!

Read it at Bill Mitchell — billy blog
What is macroeconomics?
by Bill Mitchell

Book Announcement

The US Economy and Neoliberalism: Alternative Strategies and Policies
Edited by Nikolaos Karagiannis

To Be Published December 31st 2012 by Routledge – 240 pages
Series: Routledge Advances in Heterodox Economics
Hardback: 978-0-415-64505-8: $130.00

PART I: THE RETURN OF GOVERNMENT – PHILOSOPHICAL ISSUES & ETHICS 1.
Why is Neoliberalism Dangerous? Alternative Perspectives and Government Policy Implications — Nikolaos Karagiannis and Zagros Madjd-Sadjadi
2. The Return of Big Government: Policy Advice for President Obama — L. Randall Wray
3. The Job Guarantee in a Municipal Confederalist Framework: Counterhegemonic Possibilities in the Age of Neoconservative Globalization — Mathew Forstater
4. Beyond US Neoliberalism and the Washington Consensus: The Challenge of Development Ethics for the USA — John Marangos, Nikos Astroulakis and Maria DafnomiliPART

II: ECONOMIC POLICIES FOR SUSTAINABLE GROWTH & PROSPERITY
5. Macroeconomic Policies for Prosperity — Malcolm C. Sawyer
6. The Conditions for Sustainable USA Recovery: The Role of Investment — Philip Arestis and Elias Karakitsos
7. A Production-oriented Strategy for the USA: A Framework of Alternative Developmentalist Notions — George A. Harwell, Nikolaos Karagiannis and Zagros Madjd-Sadjadi
8. The Money-wage-labor Standard — Romar Correa

PART III: FINANCIAL FRAGILITY & ALTERNATIVE MONETARY POLICY PROPOSALS
9. Structural Reforms to Reduce Systemic Financial Fragility — Sergio Rossi
10. Quantitative Easing and Proposals for Reform of Monetary Policy Operations — Scott Fullwiler and L. Randall Wray
11. The Economic Crisis and the US Dollar: Benefits and Obligations of a Hegemon —  Swapan Sen
12. TBC — Richard Westra

Routledge
(h/t Scott Fullwiler via Twitter)

New book "as close to MMT as it gets"

The six myths: 

• Asian nations are bankrolling the U. S. 

• Treasury issued securities crowd out the private sector

• If everyone tries to save more, the nation will save more, and investment, GDP, and employment will increase 

• If the government reduces the deficit, then national saving and investment will increase 

• Today’s deficits create great burdens of tax for our children 

• If the U.S. does not get its deficit reduced soon, treasuries will face the same problems as Greece and Ireland

Frank N. Newman,  Six Myths that Hold Back America: And What America Can Learn from the Growth of China's Economy, Diversion Publishing (December 6, 2011)
(h/t Salsabob in the comments)

Wikipedia:

Frank N. Newman was born in Quincy, Massachusetts on April 20, 1942.[1] He was educated at Harvard College, receiving a B.A. in Economics in 1963.[2]

Newman joined Peat Marwick Mitchell & Company in 1966 as a manager.[3] In 1969, he moved to Citicorp as a Vice President.[4] He joined Wells Fargo in 1973, and worked there as a Vice President from 1973 to 1980, and then as an Executive Vice President and as Chief Financial Officer from 1980 to 1986.[5] He then moved to BankAmerica Corporation where he was ultimately Vice Chairman and Chief Financial Officer until his departure in 1993.[6 

In 1993, President of the United States Bill Clinton nominated Newman to be Under Secretary of the Treasury for Domestic Finance.[7] The next year, he became United States Deputy Secretary of the Treasury, holding that office until 1995.[8]

Newman then returned to the private sector, become Vice Chairman of Bankers Trust and then serving as President and Chief Executive Officer of Bankers Trust from 1996 to 1999.[9] In 2005, he became CEO of Shenzhen Development Bank.[10]