Podcasts about Modern Monetary Theory

This is the latest in my series of podcasts explaining how economics works in the credit crunch and now virus pandemic era. This week I give my thoughts on . Richard st ruth Q:

Part 2: Patricia and Christian continue the conversation with economist and author Dr Phil Armstrong about his recent paper, "Modern Monetary Theory and International Trade: Developments on the Base Case for Analysis".   Full conversation here: https://www.patreon.com/posts/155949704?pr=true   Please help sustain this podcast!  Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast     Relevant to this episode: "Modern Monetary Theory and International Trade: Developments on the Base Case for Analysis" by Dr Phil Armstrong: https://gimms.org.uk/2026/04/10/modern-monetary-theory-and-international-trade-developments-on-the-base-case-for-analysis/ "A Counterinflationary Job Guarantee For The United Kingdom", by Patricia Pino, Phil Armstrong and Steve Laughton: https://mmtuk.org/research/job-guarantee/ Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: https://discord.gg/S3UbxFe4FR "Is exchange rate depreciation inflationary?" by Bill Mitchell: https://billmitchell.org/blog/?p=32922   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our patron-only episodes: https://www.patreon.com/posts/57542767   LIVE EVENTS! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Brighton Sat 20 June | Stockholm Sat 27 June | Brussels Sun 28 June All details: https://modernmoneylab.org.au/events/    JOIN PATRICIA'S MMT ACTIVIST NETWORK (MMT UK): https://actionnetwork.org/forms/activist-registration-form   Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: https://discord.gg/S3UbxFe4FR   MMT: THE MOVIE! "Finding The Money", a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: https://findingthemoney.vhx.tv/products/finding-the-money Updates on worldwide screenings of "Finding The Money" can be found here: https://findingmoneyfilm.com/where-to-watch/ To arrange a screening of "Finding The Money", apply here: https://findingmoneyfilm.com/host-a-screening/   STUDY THE ECONOMICS OF SUSTAINABILITY! Details of Modern Money Lab's online graduate, postgraduate and standalone courses in economics are here: https://modernmoneylab.org.au/     For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Quick explanation of government debt and deficit: "Some Numbers Are Big. Let Me Help You Get Over It": https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/     For a short, non-technical, free ebook explaining MMT, download Warren Mosler's "7 Deadly Innocent Frauds Of Economic Policy" here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf     Episodes on monetary operations:  Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683  Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: https://www.patreon.com/posts/39070023 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Our Job Guarantee episodes:  Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/   More on government bonds (and "vigilantes"): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true   More on bank runs banking regulation:  Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true MMT founder Warren Mosler's Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: https://neweconomicperspectives.org/2010/02/warren-moslers-proposals-for-treasury.html     MMT Events And Courses: More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Details of Modern Money Lab's online graduate and postgraduate courses in MMT and real-world economics are here: https://modernmoneylab.org.au/     Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers": https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html   MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies   MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship     A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757     We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos Show notes: https://www.patreon.com/posts/157834250?pr=true

Thu, 30 Apr 2026 19:13:55 +0000 https://feed.neuezwanziger.de/link/21941/17328805/4286fb37-e984-4511-b66c-d118233fbf6c eae3ddd69bdffd1e6ced4f2e6e889b38 Stefan und Wolfgang besprechen den April 2026 Werbung Präsentiert von Surfshark. Geht auf surfshark.com/zwanziger oder nutzt den Code ZWANZIGER an der Kasse und bekommt 4 zusätzliche Monate Surfshark VPN gratis – plus 30 Tage Geld-zurück-Garantie. Salon Komm' in den Salon. Es gibt ihn via Webplayer & RSS-Feed (zum Hören im Podcatcher deiner Wahl, auch bei Apple Podcasts und Spotify). Alle Infos dazu: neuezwanziger.de Es war April 2026 (00:00) Auftakt der Monatsendfolge. Der Wahl (00:51) Wir hangeln uns am Wahltheater entlang – und einigen uns darauf, dass Kevin Gensheimers Interview mit Caroline Wahl in der Berliner Zeitung der einzig angemessene Beitrag dazu war. Alles andere blendet Wolfgang lieber aus, Stefan ohnehin. Nebenbei der einzige Kandidat, dessen Take Stefan interessiert hätte: Alexander Kluge. Unterstützung (07:12) Zwei technische Erweiterungen: Olivia liefert ab sofort einen täglichen Audio-Briefing-Podcast aus Forum und YouTube-Kommentaren (RSS-Button auf neuezwanziger.de). Und auf Stefans Seite gibt es jetzt das Clip-Transkript-Archiv mit über 7.000 Clips ab Januar 2024. Außerdem: Tickets für den Sommersalon am 22. August im Saalbau Bornheim (nicht in der Käs!) sind buchbar. Salonlektüre im Mai: Florian Butollo, „Das knappe Gut Arbeit". Rot-rot-grüner Podcast (09:05) Heidi Reichinnek, Ricarda Lang und Rasha Nasr treffen sich in „Heidi trifft" – das von Stefan ausgerufene Lager hat seinen Podcast. Wolfgang sortiert: Spaßfaktor ja, inhaltlich aber problematisch. Die Forderung, Plattformen wie Redaktionen zu behandeln (Section-230-Logik), wäre faktisch das Ende des freien, kleinen Internets. Stefan kontert mit Mamdani als Gegenmodell zu Kumbaya-Politik: Konflikt ist Treiber, nicht Schwäche – siehe Tucker Carlsons Trump-Distanzierung oder Merkel/Seehofer. KI & Recht (46:05) Christian Uhle (bei Yves Bossart) und OpenAI-Präsident Greg Brockman argumentieren erstaunlich deckungsgleich: KI befreit von Bildschirmarbeit, mehr Mensch-zu-Mensch. Die Anwaltskanzlei-KI Legora wirbt mit Jude Law unter dem Slogan „Face up" – passend zu Daniel Markovits' Befund, dass Partner heute 2.400 Billable Hours leisten müssen. Folge: Wenn die KI die Recherche übernimmt, bleibt nur noch Face-Up-Hour beim Kunden – Frankfurt wird voller, nicht leerer. Spitzenkanzleien werden zu Boutiquen, der Wald-und-Wiesen-Anwalt wird industriell ersetzt. SLAPP (1:00:27) SLAPP = Strategic Lawsuit Against Public Participation: Einschüchterungsklagen gegen Journalist:innen, Blogger:innen, Engagierte. Anlass ist die EU-Richtlinie 2024/1069, die bis 7. Mai in deutsches Recht überführt werden muss – aber gerade erst die erste Lesung im Bundestag hatte. Justizministerin Stefanie Hubig erinnert an Daphne Caruana Galizia (48 anhängige Verfahren bei ihrer Ermordung). Stefan zeigt die Ausschussanhörung mit Sachverständigen – inklusive eines BGH-Richters, dessen Vortrag klingt wie ein Notar, der einem den Vertrag vorliest. Mit Verweis auf Luhmann (Recht als Immunsystem) und Julia Enders (Balance, sonst Autoimmun) – hier droht das Immunsystem gegen den eigenen Körper zu kämpfen. Hinweis auf die Initiative NoSLAPP.de. Ukraine (1:47:52) Wir steigen ein über Miriam Meckels Anekdote (Vertrauensfrage Afghanistan 2001, Applaus im Wasserwerk) – paradigmatisch für eine Elite, die nichts dazugelernt hat. Ole Nymoen vs. Arthur Weigand („Für euch würde ich kämpfen") – Comedy-Gold, weil der Autor selbst seinen Buchtitel offenbar nicht durchdacht hat. Christina Dunz (RND) plädiert für die Rückkehr ukrainischer Männer im wehrfähigen Alter als „Frage der Fairness" – Wolfgang seziert, wie hier aus Konjunktiv Pflicht zum Sterben wird. Dazu der Reservistenverbandsvorschlag „Dienst bis 70" als Hebel zur Rentenaltererhöhung. Stefan zur Methode: Texte gibt er Alcina, die ihm Anlass, Kernaussage, Protagonisten und Zitate destilliert – Werbefilter gegen Dunz-Prosa. Iran (2:21:49) Was Trump im Iran veranstaltet, ist die Hölle – auch wenn wir wenig Bilder sehen. Die New York Times (Eric Schmitt, Jonathan Swan) hat die US-Munitionsbestände durchgezählt: über 1.100 JASSMs, ~1.000 Tomahawks, 1.200 Patriot-Interceptors verschossen – teils 30–50 % des Bestandes. Eine Milliarde Dollar Munition pro Tag. Justizministerin Hubig nennt Trumps Drohung „verstörend" – beim Thema Ramstein und Völkerrecht aber: nicht zuständig. Kein Ton vom Außenminister Wadephul. Ungarn (2:46:12) Péter Magyar und seine Tisza-Bewegung überholen Fidesz – wir sortieren mit Oliver Soos (Deutschlandfunk), Politologin Eszter Kovács und einem Guardian-Text von Tibor Dessewffy. Magyars Erfolgsformel: bis zu acht Auftritte pro Tag, native Social-Media-Sprache, Bekehrungsgeschichte als Erlaubnisstruktur (Lehrstück für eine Post-Trump-USA). Ungarns Rahmen: krasser Bevölkerungsverlust, wirtschaftlicher Abstieg, parlamentarisch nur noch Fidesz, Tisza und Neonazi-Partei – linke Kräfte sind zerrieben. Im SWR-Forum darf Gerhard Papke (FDP) erklären, Orbán sei der „Leuchtturm gegen Brüsseler Linke" – Wolfgang widerspricht: Die EU ist längst ein rechtes Projekt, in dem sich Meloni pudelwohl fühlt. Der Papst (3:58:08) Theologe Thomas Schüller fasst zusammen, warum Trump im Konflikt mit dem Papst nur verlieren kann: letzte moralische Instanz, multilateral, unbestechlich durch Zölle. Leo XIV. geht einen eigenen Weg – Respekt vor der Kurie statt Wirbel à la Franziskus, deshalb auch Nein zur Segnung homosexueller Paare. Stefan kündigt seine erste Vatikan-Tour im Mai an und einen 22.000-Wörter-Text aus Rom zu KI und menschlicher Intelligenz – Salonlektüre. Ankündigung: Wenn der Papst Räume für die KI definiert, unterwirft sich Stefan. Robin Alexander erklärt Debatten (4:08:26) Nachwehen der Klingbeil-Rede im „Machtwechsel"-Podcast: Robin Alexander und Dagmar Rosenfeld feiern Klingbeils „Schröder-Moment" (den außer Journalist:innen niemand so nennt). Inhaltlich: Rente an Lebensarbeitszeit koppeln (gegen Akademiker), nicht-erwerbstätige Ehefrauen aus der GKV kegeln – Bürgergeldempfänger und Geflüchtete bleiben drin („Verhetzungspotenzial"). Diagnose der Sendung: „Es hat sich ausgewumst, das Geld ist alle" – während für Aufrüstung weiter Sondervermögen entstehen. Modern Monetary Theory? Komplett abgeräumt. „You'll never walk alone" wird zu „You will walk alone – an die Front." Abschluss (4:36:32) Zum Schluss Bush und Michelle Obama als Wir-verstehen-uns-doch-Kuschelnummer trotz Irakkrieg – exakt das Modell, in das auch Deutschland zurückwill (alle dürfen mit allen, nur nicht mit der AfD). Passend dazu: Fabian Köster und Philipp Amthor stehen jetzt gemeinsam auf der Bühne im Ernst-Reuter-Saal – Stefans alte Prognose ist eingetreten. Trostpflaster: amerikanische Late Night (Stewart, Kimmel, Colbert) bleibt konfrontativ, weil sie es muss. Salon-Vorschau (4:43:13) Im Mai-Salon: Florian Butollo, „Das knappe Gut Arbeit" (Suhrkamp) als KI-Gegenthese zur Massenarbeitslosigkeit. Dazu der neue Vatikan-Text zu KI, „Kybernetik und Kritik" (punktuell), eine demografische Studie auf Basis der UN World Population Prospects 2024 (Wendepunkt: weltweit erstmals mehr Geburten von Frauen als von Männern – mit Folgen für Manosphäre und Rechtsruck) und das Niu-Wörterbuch (Reichelt, Hartmann, Thurn und Taxis), das Stefan schon physisch auf dem Schreibtisch liegen hat. Salon abonnierbar via Patreon, Steady oder Apple auf neuezwanziger.de. Live-Salon: 22. August, Saalbau Bornheim. full Stefan und Wolfgang besprechen den April 2026 no Stefan Schulz und Wolfgang M. Schmitt 17415

#209 MMT and International Trade with Dr Phil Armstrong (part 1)   Patricia and Christian talk to economist and author Dr Phil Armstrong about his recent paper, "Modern Monetary Theory and International Trade: Developments on the Base Case for Analysis".   Full conversation here: https://www.patreon.com/posts/155949704?pr=true   Please help sustain this podcast!  Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast     Relevant to this episode: "Modern Monetary Theory and International Trade: Developments on the Base Case for Analysis" by Dr Phil Armstrong: https://gimms.org.uk/2026/04/10/modern-monetary-theory-and-international-trade-developments-on-the-base-case-for-analysis/ "A Counterinflationary Job Guarantee For The United Kingdom", by Patricia Pino, Phil Armstrong and Steve Laughton: https://mmtuk.org/research/job-guarantee/ Join the new MMT UK discord server to connect with others looking to promote MMT and ecological economics in the UK!: https://discord.gg/S3UbxFe4FR "Is exchange rate depreciation inflationary?" by Bill Mitchell: https://billmitchell.org/blog/?p=32922   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our patron-only episodes: https://www.patreon.com/posts/57542767   LIVE EVENTS! ANTI-AUSTERITY ECONOMICS ONE-DAY WORKSHOPS WITH PROFESSOR STEVEN HAIL IN 2026! Brighton Sat 20 June | Stockholm Sat 27 June | Brussels Sun 28 June All details: https://modernmoneylab.org.au/events/    JOIN PATRICIA'S MMT ACTIVIST NETWORK (MMT UK): https://actionnetwork.org/forms/activist-registration-form   Join the MMT UK Discord server to connect with others looking to promote MMT and ecological economics in the UK!: https://discord.gg/S3UbxFe4FR   MMT: THE MOVIE! "Finding The Money", a documentary by Maren Poitras featuring Stephanie Kelton is now available worldwide to rent or buy: https://findingthemoney.vhx.tv/products/finding-the-money Updates on worldwide screenings of "Finding The Money" can be found here: https://findingmoneyfilm.com/where-to-watch/ To arrange a screening of "Finding The Money", apply here: https://findingmoneyfilm.com/host-a-screening/   STUDY THE ECONOMICS OF SUSTAINABILITY! Details of Modern Money Lab's online graduate, postgraduate and standalone courses in economics are here: https://modernmoneylab.org.au/     For an intro to MMT: Our first three episodes: https://www.patreon.com/posts/41742417 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318   Quick MMT reads: Warren's Mosler's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Steven Hail's quick MMT explainer: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095 Quick explanation of government debt and deficit: "Some Numbers Are Big. Let Me Help You Get Over It": https://christreilly.com/2020/02/17/some-numbers-are-big-let-me-help-you-get-over-it/     For a short, non-technical, free ebook explaining MMT, download Warren Mosler's "7 Deadly Innocent Frauds Of Economic Policy" here: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf     Episodes on monetary operations:  Episode 20 - Warren Mosler: The MMT Money Story (part 1): https://www.patreon.com/posts/28004824 Episode 126 - Dirk Ehnts: How Banks Create Money: https://www.patreon.com/posts/62603318 Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683  Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929    For more on Quantitative Easing: Episode 59 - Warren Mosler: What Do Central Banks Do?: https://www.patreon.com/posts/39070023 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true    Episodes on inflation: Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings: https://www.patreon.com/posts/41780508 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation: https://www.patreon.com/posts/52207835 Episode 123 - Warren Mosler: Understanding The Price Level And Inflation: https://www.patreon.com/posts/59856379 Episode 128 - L. Randall Wray & Yeva Nersisyan: What's Causing Accelerating Inflation? Pandemic Or Policy Response?: https://www.patreon.com/posts/63776558   Our Job Guarantee episodes:  Episode 4 - Fadhel Kaboub: What is the Job Guarantee?: https://www.patreon.com/posts/41742701 Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee: https://www.patreon.com/posts/36034543 Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory: https://www.patreon.com/posts/episode-148-why-73211346 Quick read: Pavlina Tcherneva's Job Guarantee FAQ page: https://pavlina-tcherneva.net/job-guarantee-faq/   More on government bonds (and "vigilantes"): Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 143 - Paul Sheard: What Is Quantitative Easing?: https://www.patreon.com/posts/71589989?pr=true Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?: https://www.patreon.com/posts/episode-147-dirk-72906421 Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero: https://www.patreon.com/posts/71966513 Episode 145 - John T Harvey: What Determines Currency Prices?: https://www.patreon.com/posts/72283811?pr=true   More on bank runs banking regulation:  Episode 162 - Warren Mosler: Anatomy Of A Bank Run: https://www.patreon.com/posts/80157783?pr=true Episode 163 - L. Randall Wray: Breaking Banks - The Fed's Magical Monetarist Thinking Strikes Again: https://www.patreon.com/posts/80479169?pr=true Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better: https://www.patreon.com/posts/81084983?pr=true MMT founder Warren Mosler's Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System: https://neweconomicperspectives.org/2010/02/warren-moslers-proposals-for-treasury.html     MMT Events And Courses: More information about Professor Bill Mitchell's MMTed project (free public online courses in MMT) here: http://www.mmted.org/ Details of Modern Money Lab's online graduate and postgraduate courses in MMT and real-world economics are here: https://modernmoneylab.org.au/     Order the Gower Initiative's "Modern Monetary Theory - Key Insights, Leading Thinkers": https://www.e-elgar.com/shop/gbp/modern-monetary-theory-9781802208085.html   MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies: https://www.zotero.org/groups/2251544/mmt_academic_resources_-_compiled_by_the_gower_initiative_for_modern_money_studies   MMT scholarship compiled by New Economic Perspectives: http://neweconomicperspectives.org/mmt-scholarship     A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757     We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos     Show notes: https://www.patreon.com/posts/156678605?pr=true

** Questions about MMT? Thoughts about the episode? Come to our online gathering, Macro ‘n Chill. Tuesday, April 21, 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/RkspaP0RSNajdc69bqUmkAJim Byrne of MMT101 is back for a conversation that moves beyond the technical mechanics of Modern Monetary Theory to ask the tough questions. While affirming MMT's core insight that a currency-issuing government doesn't face financial constraint, only real resource limits, they argue that this knowledge is politically neutered by the structures of capitalism.Jim lays out a clear, accessible primer on how money actually works and breaks down the scarcity myth. But the real question isn't can governments act, it's who they serve when they do.Looking at the failure of bourgeois democracy, they talk about cultural hegemony and neoliberal ideology as well as class struggle vs. gradualism. The discussion touches on Scotland as a colony of Westminster and the limits of referendums under an imperial state structure.Ultimately, this is a dialogue that pushes beyond MMT's insights and asks whether those tools can mean anything without a rupture in the underlying political and economic order.Jim Byrne has developed an MMT foundation course aimed at beginners and intermediate learners as well as people who already know about economics but are curious about Modern Monetary Theory.Follow his work and the MMT101 podcast at mmt101.substack.com@MMT101DotORG on X

** This week's Macro ‘n Chill might shake us up. Some of us, at least. Come discuss the episode with the community. Tues, April 14, 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/PIf2VnjBS-mwX-Bd4BwWYQIn a solo episode, Steve sets out to describe and explain some of the shifts in direction for Real Progressives and the podcast, mirroring his own changing perspective. He reflects on a decade or more of championing Modern Monetary Theory, while grappling with a dawning realization. Despite MMT's crystal clear insights into sovereign currency with the potential for popular federal programs and public investment, the political system itself is a scam.He describes a journey of discovery (yeah, we know that sounds corny) peeling away the layers to explain the Gilens and Page study and global events. Gaza, US foreign policy, austerity, racism, empire, ramping up of brutal law enforcement within the US... each question leads to another. Weekly guests for Macro N Cheese help provide answers. Significantly, they contribute to the building of an analysis. Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.Accepting that the US is not a functioning democracy but an oligarchy serving capital, Steve critiques electoralism as a false promise and diversion. He calls for building parallel institutions and class consciousness over 'vote harder' strategies. Real Progressives remains rooted in MMT while integrating revolutionary theory, resistance, and an unsentimental understanding of capitalism.Steve Grumbine is founder and CEO of Real Progressives and host of Macro N Cheese podcast. Find his work at realprogressives.org and realprogressives.substack.com@sdgrumbine on X

Join our community on Tuesday evening as we listen to and discuss this episode. April 7th at 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/nkkVRy2JQbW2Eh4VDtcNHQClara Mattei and her first book, The Capital Order, were hugely important to Real Progressives as we began to expand our focus from Modern Monetary Theory and investigate the political economy of the capitalist system.Now she joins Steve to talk about her new book, Escape from Capitalism. They discuss how capitalism maintains itself through market dependence, exploitation, and austerity, and why escaping it requires building alternative institutions rather than relying on elections or reforms within the capitalist state.Steve and Clara are largely aligned in their critique of the system, but there are some disagreements. They debate aspects of MMT, including how interest rates, state spending, and monetary sovereignty function across different contexts. Their differences open up a deeper discussion about the limits of reform, the state's role, and what meaningful change would require.There is a reason elections cannot deliver emancipation. The capitalist state is structurally designed to insulate elites from popular control. Clara describes her practical organizing work with FREE (Forum for Real Economic Emancipation) in Tulsa, building horizontal assemblies, participatory budgeting campaigns, community land trusts, and mutual aid.Steve touches on the concept of de-commodifying basic needs (housing, healthcare, food), to break market dependence. But then, capitalism would be unworkable.Clara E. Mattei is Professor of Economics at The University of Tulsa and the Founding President of FREE: Forum for Real Economic Emancipation. She was previously associate professor at The New School for Social Research Economics Department and has been a fellow of the Institute for Advanced Studies, Princeton. Her research contributes to the analysis and history of capitalism, exploring the critical relation between economic ideas and technocratic policy making.Clara is author of The Capital Order: How Economists Invented Austerity and Paved the Way to Fascism (University of Chicago Press, 2022), and the recently published Escape from Capitalism (Allen Lane, Penguin Press, and Simon & Schuster, January 2026), which will soon be translated into multiple languages, including French, German, and Italian. Learn more @ freefreeforum.org, where she hosts the weekly FREE podcast.@claraemattei on X

** Have you been coming to Macro ‘n Chill on Tuesday evenings? It's the online gathering where we listen to and discuss our latest episode in a relaxed atmosphere. Bring your questions and insights and help build the community. March 31 at 8pm ET/5pm PT. Register here: https://us06web.zoom.us/meeting/register/OhW98SYfRN64vCaX2NVITA Carlos García Hernández, author of Fiat Socialism: Achieving the Goals of Socialism Through Modern Monetary Theory, joins Steve to revisit their discussion of topics covered in his earlier visits to the podcast. Their dialogue wrestles with a deceptively simple question: if we already have the monetary capacity to guarantee jobs, housing, and public goods, why does capitalism still dominate? Through a sharp exchange, Steve and Carlos explore whether Modern Monetary Theory can be a pathway to socialism or whether deeper structural barriers rooted in class power and imperial dominance stand in the way. While there's broad agreement on the failures of neoliberal capitalism and the need to subordinate economic power to political control, tensions emerge around strategy and theory. Carlos leans toward a vision of “fiat socialism” centered on access to goods and services and the transformative potential of monetary sovereignty, while Steve pushes harder on the limits of education alone, emphasizing class struggle, ideology, and the near-impossibility of reform within existing institutions. The result is less a blueprint and more an investigation that forces us to confront not just what's possible, but why it isn't happening. Carlos García Hernández is the founder and director of Lola Books, a publishing house that has introduced MMT to Spanish and German readers. He is the author of Fiat Socialism: Achieving the Goals of Socialism Through Modern Monetary Theory. @Carlos_G_H_ on X

Welcome to the 9Innings Podcast where we Educate, Empower and Engage. ON THIS WEEKS PODCAST: In this episode of the "9innings Podcast" host Kevin Thompson welcomes Dr. John T. Harvey for an in-depth discussion on the U.S. national debt, inflation, and economic policy. They examine the implications of America's $39 trillion debt, compare it to Japan's situation, and discuss the roles of demographics, immigration, and government spending. The conversation explores the effectiveness of monetary policy, the importance of education and social safety nets, and the challenges of economic inequality, offering listeners a nuanced perspective on the complexities facing the modern U.S. economy. 00:00 — Introduction & Why the Debt Conversation Matters 01:49 — U.S. vs. Japan: Debt, Demographics, and Economic Reality 03:35 — Immigration, Labor, and Social Security Sustainability 08:10 — Inflation, Interest Rates, and Modern Monetary Theory (MMT) 15:08 — Mainstream vs. Alternative Economic Thinking 23:19 — Government Spending, Deficits, and the Private Sector 32:17 — Privatization, Public Goods, and Economic Data Reliability 45:25 — Technology, Marx, and the Future of Work NEWSLETTER (WHAT NOW): https://substack.com/@9icapital?r=2eig6s&utm_campaign=profile&utm_medium=profile-page Follow Us: youtube: / @9icap Linkedin: / kevin-thompson-ricp%c2%ae-cfp%c2%ae-74964428 facebook: / mlb2cfp Buy MLB2CFP Here: https://www.amazon.com/MLB-CFP%C2%AE-90-Feet-Counting-ebook/dp/B0BLJPYNS4 Website: http://www.9icapitalgroup.com Hit the subscribe button to get new content notifications. Corrections: Editing by http://SwoleNerdProductions.com Disclosure: https://sites.google.com/view/9idisclosure/disclosure

Alex Howlett, an independent scholar affiliated with The Greshm Institute, discusses Universal Basic Income (UBI). Beginning with Modern Monetary Theory (MMT), an offshoot of post-Keynesianism, he addresses its key principles: notably Keynes' belief that the Great Depression was caused by a deficiency in aggregate demand, leading to sustained involuntary unemployment that the market could not self-correct. Howlett deflates Keynesian theory that assumes that economic policy aims for full employment, asking, “To what extent actually does it make sense for people to be workers?” while explaining that labour is not the most effective or efficient way to get money to people. Howlett sees UBI as solving this problem of distributing money to people while dispensing with the need to ensure that everyone has a job, dispelling the notion that only if every single person is working can an economy run at full capacity. Assessing some of the major criticisms of UBI—from fiscal feasibility, economic incentives, and social justice—he responds to the fears of inflation, worries that borrowing will lead to reckless fiscal policy and a loss of central bank independence, or that UBI would dismantle already established welfare programmes. Responding to counter-arguments to UBI, such as the claim that the economy will not have the labour pool it requires or that people won't be working as much, Howlett turns these arguments on their head demonstrating how the demand for labour is artificially inflated as a way of getting people jobs, noting the historical overstimulation of the financial sector to encourage firms to borrow so they hire workers. Howlett contends that with UBI, the economy does not have to play into the push and pull of labour supply and demand, stating, “You hear this fear that people aren't going to work as much at the same time that you hear this fear that there aren't going to be enough jobs available, right? It's like, well, wait a minute…. Isn't it good if those things kind of go together?” Get full access to Savage Minds at savageminds.substack.com/subscribe

What does it really mean to be a heterodox economist? And how does Modern Monetary Theory fit into today's political narratives? In this episode, Indypodcasters Fiona and Marlene catch up with political economist William Thomson  to unpack the big ideas shaping Scotland's economic debate. William explains what “heterodox economics” actually means, challenges mainstream thinking, and explores how Modern Monetary Theory connects to the political choices facing Scotland right now. We also hear about his ambitious new event, Scotland's Economics Festival, taking place 19–21 March in Leith, Edinburgh — designed to bring big economic ideas out of academia and into the hands of the public.

Merryn Somerset Webb speaks with Panmure Liberum Chief Economist Simon French to unpack Modern Monetary Theory—the idea that governments issuing their own currency can spend freely, constrained only by inflation. They explore whether the pandemic offered a real-world test of MMT, why fiscal policy may be too blunt a tool to control inflation and what the theory could mean for UK politics, bond markets and capital allocation.Sign up to the subscriber event here: https://www.bloombergevents.com/ZZ3kna?utm_source=Podcast&utm_campaign=Podcast&utm_medium=Podcast&RefId=subSee omnystudio.com/listener for privacy information.

** Tuesday evening we'll be listening to and discussing this episode of the podcast in our virtual community gathering. All are invited to Macro ‘n Chill, February at 8pm ET/5pm PT. Find the registration link at the top of our website: realprogressives.orgCan Marxists and MMTers find common ground, or are they doomed to be strategic enemies?Steve's guest is Australian labor historian and organizer Owen Bennett, who founded the Australian Unemployed Workers' Union in 2015, and more recently, Unionists for a Job Guarantee in 2024. He and Steve explore how to tackle the deep divide between Modern Monetary Theory and the Marxist left. Owen argues that the left's current dismissal of full-employment policy is a historic break from a time when communists and unionists successfully fought for – and won – some major concessions under capitalism. We should look to establish that kind of unity.If the state is a tool of the oligarchs, is fighting for a policy like the Job Guarantee a distraction from revolution, or is it a necessary front in the class war? Steve and Owen discuss austerity, strategy, and whether "socialism or bust" has left the working class with nothing at all.Owen Bennett is a unionist, university tutor, PhD graduate in labour history, activist, author, and researcher. He has published widely on the history of working class struggles against unemployment in Australia. His book on the struggle for full employment in post-war Australia is forthcoming.Owen founded the Australian Unemployed Workers Union in 2015 and, more recently, Unionists for a Job Guarantee in 2024.

Welcome back to Impact Theory with Tom Bilyeu! In this episode, Tom sits down with geopolitical strategist Peter Zeihan for a fascinating deep dive into the tectonic shifts shaping our world order. Together, Tom Bilyeu and Peter Zeihan unpack why the global landscape is changing—and why it isn't just about any single political figure, but rather the collision of long-standing trends in trade, demographics, and national priorities. You'll hear Peter Zeihan break down how the post–World War II system, built on American-led security and global cooperation, is unraveling amidst demographic decline and shifting alliances. They explore why the current moment might be unlike anything we've seen since the Black Plague, what happens when countries are forced to become economic generalists again, and why U.S. leadership is facing a critical test. Plus, Tom Bilyeu presses Peter on what this means for America's future, global productivity, and the hard choices ahead. Whether you're a geopolitical buff or just eager to understand how economics truly drives world affairs, this episode will challenge your assumptions and give you the tools to see the present—and the future—in a whole new light. Stay tuned for this thought-provoking conversation. Follow Peter Zeihan:Website: https://zeihan.com/Twitter: https://twitter.com/PeterZeihanLinkedIn: https://www.linkedin.com/in/peter-zeihan-1a8176/ YouTube: https://www.youtube.com/@ZeihanonGeopolitics What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER:  https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show SCALING a business: see if you qualify here.:  https://tombilyeu.com/call Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.: https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Quince: Free shipping and 365-day returns at https://quince.com/impactpod Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order Incogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Blocktrust IRA: Get up to $2,500 funding bonus to kickstart your account at https://tomcryptoira.com Netsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/Theory Huel: High-Protein Starter Kit 20% off for new customers at https://huel.com/impact code impact global security, US foreign policy, trade, demographics, Cold War, NATO, globalization, manufacturing, K-shaped economy, world order, American alliances, post-World War II system, containment, economic sanctions, Iraq War, war on terror, US industrial base, economic models, Modern Monetary Theory (MMT), tariffs, Trump administration, supply chain, deglobalization, NAFTA, regional globalization, policy experts, Cuban workforce, Colombia infrastructure, technological stagnation, demographic collapse, China-US relations Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome back to Impact Theory with Tom Bilyeu! In this episode, Tom sits down with geopolitical strategist Peter Zeihan for a fascinating deep dive into the tectonic shifts shaping our world order. Together, Tom Bilyeu and Peter Zeihan unpack why the global landscape is changing—and why it isn't just about any single political figure, but rather the collision of long-standing trends in trade, demographics, and national priorities. You'll hear Peter Zeihan break down how the post–World War II system, built on American-led security and global cooperation, is unraveling amidst demographic decline and shifting alliances. They explore why the current moment might be unlike anything we've seen since the Black Plague, what happens when countries are forced to become economic generalists again, and why U.S. leadership is facing a critical test. Plus, Tom Bilyeu presses Peter on what this means for America's future, global productivity, and the hard choices ahead. Whether you're a geopolitical buff or just eager to understand how economics truly drives world affairs, this episode will challenge your assumptions and give you the tools to see the present—and the future—in a whole new light. Stay tuned for this thought-provoking conversation. Follow Peter Zeihan:Website: https://zeihan.com/Twitter: https://twitter.com/PeterZeihanLinkedIn: https://www.linkedin.com/in/peter-zeihan-1a8176/ YouTube: https://www.youtube.com/@ZeihanonGeopolitics What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER:  https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show SCALING a business: see if you qualify here.:  https://tombilyeu.com/call Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.: https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Quince: Free shipping and 365-day returns at https://quince.com/impactpod Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription order Incogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Blocktrust IRA: Get up to $2,500 funding bonus to kickstart your account at https://tomcryptoira.com Netsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/Theory Huel: High-Protein Starter Kit 20% off for new customers at https://huel.com/impact code impact global security, US foreign policy, trade, demographics, Cold War, NATO, globalization, manufacturing, K-shaped economy, world order, American alliances, post-World War II system, containment, economic sanctions, Iraq War, war on terror, US industrial base, economic models, Modern Monetary Theory (MMT), tariffs, Trump administration, supply chain, deglobalization, NAFTA, regional globalization, policy experts, Cuban workforce, Colombia infrastructure, technological stagnation, demographic collapse, China-US relations Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Prof. L. Randall Wray joined Class Unity to talk about Modern Monetary Theory, heterodox economics, and the future of economic studies. Prof. Wray is a professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute. Previously, he was a professor at the University of Missouri–Kansas City in Kansas City. In this episode we are discussing his book, Macroeconomics; Author(s): William Mitchell, L. Randall Wray, Martin Watts; Red Globe Press, Macmillan International; February 2019; https://www.macmillanihe.com/page/detail/Macroeconomics/?K=9781137610669. For donations, membership inquiries, or educational courses, check out our website here: https://classunity.org

Patricia & Christian talk to economist Dr Sam Levey about films set in the world of finance, including Trading Places, The Big Short, The Wolf Of Wall Street, Boiler Room and Inside Job. (Conversation recorded in 2023).   Please help sustain this podcast!  Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   LIVE EVENT! THE FAUXBEL PRIZE IN ECONOMICS 2026

Scott interviews economist Bob Murphy about how the Federal Reserve enables the government to pursue its wars of choice. They also talk about the soundness of Modern Monetary Theory, the prospect of a war with Venezuela, the affordability crisis and more. Discussed on the show: The Creature from Jekyll Island by G. Edward Griffin What Has Government Done to Our Money? by Murray Rothbard Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider Politically Incorrect Guide to the Great Depression and the New Deal by Robert P. Murphy Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America's Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Human Action Podcast and The Bob Murphy Show. Follow him on X @BobMurphyEcon Audio cleaned up with the Podsworth app:  https://podsworth.com Use code HORTON50 for 50% off your first order at Podsworth.com to clean up your voice recordings, sound like a pro, and also support the Scott Horton Show! For more on Scott's work: Check out The Libertarian Institute:  https://www.libertarianinstitute.org Check out Scott's other show, Provoked, with Darryl Cooper https://youtube.com/@Provoked_Show Read Scott's books: Provoked: How Washington Started the New Cold War with Russia and the Catastrophe in Ukraine https://amzn.to/47jMtg7 (The audiobook of Provoked is being published in sections at https://scotthortonshow.com) Enough Already: Time to End the War on Terrorism: https://amzn.to/3tgMCdw Fool's Errand: Time to End the War in Afghanistan https://amzn.to/3HRufs0 Follow Scott on X @scotthortonshow And check out Scott's full interview archives: https://scotthorton.org/all-interviews This episode of the Scott Horton Show is sponsored by: Roberts and Roberts Brokerage Incorporated https://rrbi.co Moon Does Artisan Coffee https://scotthorton.org/coffee; Tom Woods' Liberty Classroom https://www.libertyclassroom.com/dap/a/?a=1616 and Dissident Media https://dissidentmedia.com You can also support Scott's work by making a one-time or recurring donation at https://scotthorton.org/donate/https://scotthortonshow.com or https://patreon.com/scotthortonshow Learn more about your ad choices. Visit megaphone.fm/adchoices

 Download Audio. Scott interviews economist Bob Murphy about how the Federal Reserve enables the government to pursue its wars of choice. They also talk about the soundness of Modern Monetary Theory, the prospect of a war with Venezuela, the affordability crisis and more. Discussed on the show: The Creature from Jekyll Island by G. Edward Griffin What Has Government Done to Our Money? by Murray Rothbard Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider Politically Incorrect Guide to the Great Depression and the New Deal by Robert P. Murphy Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America's Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Human Action Podcast and The Bob Murphy Show. Follow him on X @BobMurphyEcon Audio cleaned up with the Podsworth app: https://podsworth.com Use code HORTON50 for 50% off your first order at Podsworth.com to clean up your voice recordings, sound like a pro, and also support the Scott Horton Show! For more on Scott's work: Check out The Libertarian Institute: https://www.libertarianinstitute.org Check out Scott's other show, Provoked, with Darryl Cooper https://youtube.com/@Provoked_Show Read Scott's books: Provoked: How Washington Started the New Cold War with Russia and the Catastrophe in Ukraine https://amzn.to/47jMtg7 (The audiobook of Provoked is being published in sections at https://scotthortonshow.com) Enough Already: Time to End the War on Terrorism: https://amzn.to/3tgMCdw Fool's Errand: Time to End the War in Afghanistan https://amzn.to/3HRufs0 Follow Scott on X @scotthortonshow And check out Scott's full interview archives: https://scotthorton.org/all-interviews This episode of the Scott Horton Show is sponsored by: Roberts and Roberts Brokerage Incorporated https://rrbi.co Moon Does Artisan Coffee https://scotthorton.org/coffee; Tom Woods' Liberty Classroom https://www.libertyclassroom.com/dap/a/?a=1616 and Dissident Media https://dissidentmedia.com You can also support Scott's work by making a one-time or recurring donation at https://scotthorton.org/donate/https://scotthortonshow.com or https://patreon.com/scotthortonshow

Patricia and Christian talk to Professor Steven Hail about some of the tricky questions progressive leaders and activists are facing. The conversation explores Zack Polanski's bold media messaging, bond market myths, and the historic opportunity for MMT-informed politics in the UK.   Please help sustain this podcast!  Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   LIVE EVENT! THE FAUXBEL PRIZE IN ECONOMICS 2026

Patricia and Christian talk to Professor Steven Hail about some of the tricky questions progressive leaders and activists are facing. The conversation explores Zack Polanski's bold media messaging, bond market myths, and the historic opportunity for MMT-informed politics in the UK.   Please help sustain this podcast!  Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   LIVE EVENT! THE FAUXBEL PRIZE IN ECONOMICS 2026

In today's world, anyone serious about anti-imperialism, global development, and monetary sovereignty needs to break through the well-funded US propaganda machine and develop a fact-based, nuanced understanding of China. To this end, Steve asked Yan Liang to come back to the podcast to look at China through the MMT lens, analyzing its economic management, global role, and response to Western villainization. They discuss China's development ethos and describe China as a state that actively uses its monetary and fiscal sovereignty to guide development towards internal goals (poverty alleviation, technological self-reliance, common prosperity) and external partnership (Win-win cooperation, Belt and Road Initiative). Illustrating the difference between state steering and the so-called “free market,” the conversation goes into China's mobilization of real resources through strategic state guidance, like Five-Year Plans and state-owned enterprises in key sectors. Yan talks about the use of capital controls and a managed exchange rate. She details lessons from 2015 and the application of MMT principles to insulate domestic policy from volatile external forces. Without romanticizing China, Yan also walks through its real challenges. But from an MMT-aware lens, these are seen as problems of policy design and resource use (issues a sovereign, planning-oriented state can address!) rather than proof of an impending collapse. Yan Liang is Peter C and Bonnie S Kremer Chair Professor of Economics at Willamette University. She is also a Research Associate at the Levy Economics Institute, a Non-Resident Senior Fellow at the Global Development Policy Center (Boston University), and a Research Scholar of the Global Institute for Sustainable Prosperity. Yan specializes in the Modern Monetary Theory (MMT), the Political Economy of China, Economic Development, and International Economics. Yan's current research focuses on China's development finance and industrial transformation, and China's role in the global financial architecture. https://www.linkedin.com/in/yan-liang-1355b91a2/ @YanLian31677392 on X

In this episode of DemystifySci, we peer into the very separate roots of banking and blockchain finance to find what's alive beneath the myth. Bitcoin guru and amateur mycologist, Brandon Quittem, joins us to trace the fall of old empires and the rise of a new code-born freedom. The conversation drifts between history and possibility, where gold becomes data and control slips through the fingers of the elite. What remains is a question: can money succeed without those who steer its value?PATREON https://www.patreon.com/c/demystifysciPARADIGM DRIFThttps://demystifysci.com/paradigm-drift-showHOMEBREW MUSIC - Check out our new album!Hard Copies (Vinyl): FREE SHIPPING https://demystifysci-shop.fourthwall.com/products/vinyl-lp-secretary-of-nature-everything-is-so-good-hereStreaming:https://secretaryofnature.bandcamp.com/album/everything-is-so-good-here00:00 Go! 00:04:26 The Genesis of Bitcoin and the Cipherpunks 00:08:54 The Fear of Government Control and Digital Currency 00:10:41 The Failure of Early Digital Currency Attempts 00:17:54 The Collapse of the Gold Standard 00:19:56 The Nature of Trust in Currency 00:20:54 Discussion of Properties of Money 00:25:31 Critique of Modern Monetary Theory (MMT) 00:29:52 The Risks of Unchecked Debt 00:33:31 Introduction of Bitcoin as a Solution 00:39:00 Understanding Bitcoin's Structure and Security 00:41:58 The Origin of Bitcoin Ideas 00:46:49 Understanding Blockchain and Mining 00:53:06 The Mechanics of Block Creation 00:58:04 The Finite Nature of Bitcoin Mining 01:01:57 Miners' Revenue Streams 01:03:05 Genesis of Bitcoin Mining 01:05:00 Competition Among Miners 01:07:08 Future Perspectives on Bitcoin #bitcoinanalysis , #cryptocurrencies , #blockchaineducation ,#bitcoinmining , #cryptoanalysis , #cryptotradingforbegineers , #digitalcurrency , #moneymanagement , #fintech , #investingtips , #economics , #monetarypolicy , #decentralization , #satoshinakamoto , #physicspodcast #philosophypodcast MERCH: Rock some DemystifySci gear : https://demystifysci-shop.fourthwall.com/AMAZON: Do your shopping through this link: https://amzn.to/3YyoT98DONATE: https://bit.ly/3wkPqaDSUBSTACK: https://substack.com/@UCqV4_7i9h1_V7hY48eZZSLw@demystifysci RSS: https://anchor.fm/s/2be66934/podcast/rssMAILING LIST: https://bit.ly/3v3kz2S SOCIAL: - Discord: https://discord.gg/MJzKT8CQub- Facebook: https://www.facebook.com/groups/DemystifySci- Instagram: https://www.instagram.com/DemystifySci/- Twitter: https://twitter.com/DemystifySciMUSIC: -Shilo Delay: https://g.co/kgs/oty671

Billy Saas and Scott Ferguson are joined by Will Beaman to discuss Money on the Left's framework for what we call “Democratic Public Finance” (DPF). According to this paradigm, money is public credit, a capacious tool for mobilizing everyone's capacities to meet our needs and build a desirable future. DPF redefines politics as the process of coordinating our abundant human and material resources within ecological limits, rather than as an austere and exploitative competition for scarce funds. With this, Money on the Left not only opens fresh horizons for left politics, but also directly challenges the fiscal sabotage routinely carried out by liberals, conservatives and the authoritarian right. In conceptualizing DPF, Money on the Left builds on insights from Modern Monetary Theory (MMT); but we also push beyond MMT's delimitation of public money creation to the alleged sovereignty of the nation-state. Contrary to conventional accounts of MMT, we insist that money is a public, contested, and inexhaustible institution that must be politicized and redesigned across all levels of governance. During our discussion, our cohosts outline the approach to DPF presented in our recent long-form publication, “Democratic Public Finance: A Radical Vision for Mamdani's New York City.” Along the way, we tease out key insights from myriad other contemporary works, which variously leverage DPF to challenge the second Trump administration's authoritarian radicalization of neoliberal economics. Such texts include co-authored pieces such as “Blue Bonds: A Fiscal Strategy for Overcoming Trump 2.0,” “How the Zetro Card can Save New York City (Really),” and “It's Time for Complimentary Currencies,” as well as writings by Will Beaman like “How to New York Times Proof Mamdani's Playbook,” “Blue Bonds: Duck or Rabbit?,” and “The Case for Fiscal Insurgency.” The conversation highlights the originality and urgency of Money on the Left's core ideas for Democratic Public Finance. Since the discussion only scratches the surface of our writings, however, we encourage listeners to consult the linked publications above for a comprehensive engagement with DPF.Visit our Patreon page here: https://www.patreon.com/MoLsuperstructureMusic by Nahneen Kula: www.nahneenkula.com

Christian Reilly is a musical comedian and self-proclaimed "MMT lover." Are you familiar with Modern Monetary Theory? Honestly, I don't even know if it's accurate to call it a 'theory' because it's basically just the actual way money works. Christian breaks it down, and shares what got him into MMT in the first place.More MMT Stuff:(5-min read) Explainer: what is Modern Monetary Theory? By Steven Hail: https://theconversation.com/explainer-what-is-modern-monetary-theory-72095Re “What's the solution?” (to most of the suffering caused by austerity policies, and mainstream economic policy in general): everything you need to know about the Job Guarantee in a really accessible format: https://pavlina-tcherneva.net/job-guarantee-faq/Our podcast on economics - The MMT Podcast with Patricia Pino & Christian Reilly: https://pileusmmt.libsyn.com/Or: https://www.patreon.com/MMTpodcastMy website: www.christreilly.comMe on Twitter, but mostly posting about econ: https://x.com/mmtpodcast

Modern Monetary Theory. Magical Money Tree. Whichever name you know it by, everywhere, these days, the intellectual salons hum with people trying to say that they've invented that most terrifying of things: a new paradigm. That they have the economic equivalent of Einsteinian Relativity. These people profess that debt is no issue. That a country that prints its own currency can't go broke. And rather, that by a canny toe-heel on the brakes, countries can juice their economies without slamming into a wall. This week, after talking around the topic on any number of previous episodes, we're tackling MMT head-on, in an hour long special edition. Andy Collingwood is grilling Philip Pilkington, who claims to have been there at the birth of modern monetary theory in 2013 — and asking him whether there is much more here than a placenta, some hair and three teeth. The answer, it transpires, is yes and no. MMT does indeed represent a new vein of insight. But that insight is only partial. Misapplied, it is as catastrophic to a monetary system as liquid Robert Mugabe. So join us, on a journey, to a magical money tree not so far away…You can get special paywalled premium episodes of Multipolarity every month on Patreon: https://patreon.com/multipolarity

** You are invited to attend Macro ‘n Chill, our community building online gathering where we discuss the current episode of the podcast. Tuesday, September 23 at 8pm ET/5pm PT Click here to register. Our friend, MMT economist Yeva Nersisyan, joins Steve to discuss the struggle to communicate MMT's core principles in a media landscape filled with misinformation, including from those who should know better. They call some of them out by name and express disappointment when natural allies on the left reject modern monetary theory. “At this point, you cannot just be MMT curious. You have to make up your mind, do you want the ‘scarce money' framework? Is that the way you're going to view the world? Or do you view it through the MMT framework? Because there is no other option.” Yeva and Steve agree that MMT is not a political ideology but a crucial lens for understanding that a monetarily sovereign government is the creator of currency, which means scarcity is serving another purpose – eg, supporting this economic system. They talk about government spending during Covid as a missed opportunity to educate. They criticize so-called progressive politicians (hello Bernie!) who, despite likely understanding MMT, refuse to publicly champion its principles. This leads to self-sabotage (perhaps intentionally?) when they claim to argue for progressive policies within a conservative tax-and-spend agenda. Result? Austerity. As we regularly try to stress, a correct understanding of MMT is no solution, but rather a tool in building a revolutionary class analysis. Dr. Yeva Nersisyan is an associate professor of Economics and Department Chair at Franklin and Marshall College and a research scholar at Levy Economics Institute of Bard College. Professor Nersisyan has published more than 25 journal articles, book chapters, policy notes and policy briefs on the topics of Modern Monetary Theory, fiscal policy, the Green New Deal, and financial instability. She is the editor of the Elgar Companion to Modern Monetary Theory with L. Randall Wray, and her work has appeared in publications such as The Guardian and The Hill. Find her work at levyinstitute.org/publications/yeva-nersisyan

Our western (Trauma Culture) economies run on two falsehoods - we might go so far as to call them lies. The first is that economies have to grow to be 'successful'.  The second is that government spending is limited by the tax take.  That is, they need to take money in as taxes in order to spend it out into the economy.  Both of these are untrue, and understanding that they are untrue, and the political forces of ignorance and mendacity that keep them in place, is essential to our moving forward into a future that works. We cannot continue to maintain the death cult of predatory capitalism. We cannot continue with a Zombie economy that extracts, consumes, destroys and pollutes as if there were no consequences.  So what do we do? Both ecological economics and Modern Monetary Theory have been around for a while.  Degrowth theory is more recent, but it's being taken more seriously. What I haven't seen up till now is a fusion of these: a set of policy ideas worked out in which we acknowledge how money actually works, and look at how a national -or global - economy could be structured to lead us forward into a world where people and planet flourish together. I don't think this is the final destination, but it's definitely a step on the way. Our guest this week is someone particularly well positioned to answer these questions.  Colleen Schneider is a Doctoral student in Social-Ecological Economics & Policy in Vienna. Her key research areas: Ecological Economics, Environmental Justice, Monetary and Financial Systems in a Post-Growth Economy, Climate Policy.  She says, "I take a sociological and anthropological approach to understanding money as fundamentally a social relation. Money, and the monetary system (as with our economic system) are things we've created, and can create otherwise. I draw on historical examples to help understand how the institutional structure of the monetary system and our ideas about money came to be what they are, and to challenge those. [I seek to] de-naturalize money and point to ways to structure the monetary system as democratized, and (at least somewhat) localized -to realize money as a public good. I focus more specifically on how monetary and fiscal policy can be directed toward meeting human needs within environmental limits, while maintaining macroeconomic stability."So this is the focus of today's conversation.  This is a field about which I am passionate - I absolutely believe that if everyone understood how money actually works in our current world, a lot of the power inequities that we currently experience would end.  We have endeavoured to minimise the use of jargon, though we did talk about monetary and fiscal policy and I wanted to make it clear that Monetary Policy is about keeping prices stable - about using interest rates to influence inflation, that kind of thing . Fiscal policy is about the spending decisions - do we have austerity or don't we, do we fund social goods or don't we, do we decide to pour money into the military, or don't we… and the nature of taxation - what rates do we levy, what are the bands and what loopholes do we leave wide open so our friends can escape paying taxes altogether - while everyone continues to pretend that government spending is limited by the tax take. Which is nonsense. Taxation is about levelling the playing field. It's not about paying for the NHS. So there we go. Colleen spends her entire life working in this field, producing fascinating papers and a chapter in a forthcoming book that completely blew me away. So she speaks to these things far more eloquently and intelligently than I can.  Enjoy! Colleen on LinkedInColleen's papers: How to Pay for Saving the World - https://www.sciencedirect.com/science/article/pii/S0921800923002318Democratizing the Monetary Provisioning System - https://www.tandfonline.com/doi/full/10.1080/15487733.2024.2344305On universal public services to end the cost of living crisis - https://www.newstatesman.com/spotlight/economic-growth/cost-of-living-crisis/2023/01/state-end-cost-of-living-crisis-climate-changePapers by others:The political response to Inflation: https://www.foreignaffairs.com/mexico/governments-survived-inflationWorkshops:Public Money for Public Good: Why MMT Matters | ViennaSeptember 27th and 28th Gleis 21, Bloch-Bauer-Promenade 22, 1100 Wien, Austriahttps://events.humanitix.com/public-money-mmt-vienna Public Money for Public Good: Why MMT Matters | Sheffield(Colleen is not a part of this one, but says that wonderful people are running it!)September 20th and 21st https://events.humanitix.com/public-money-mmt-sheffieldRegenerative Economy Lab - Money and Finance WorkshopVienna, October 23rd and 24thhttps://www.regenecon.eu/Online masters program on which Colleen teaches - grounded jointly in ecological economics and modern monetary theory: https://www.torrens.edu.au/studying-with-us/employability/industry-led-learning/co-delivery-partners/modern-money-labDocumentary 'Finding the Money'. https://findingmoneyfilm.com/MMT group based in the UK : https://modernmoneylab.org.uk/What we offer: Accidental Gods, Dreaming Awake and the Thrutopia Writing Masterclass If you'd like to join our next Open Gathering offered by our Accidental Gods Programme it's  'Dreaming Your Death Awake' (you don't have to be a member) it's on 2nd November - details are here.If you'd like to join us at Accidental Gods, this is the membership where we endeavour to help you to connect fully with the living web of life. If you'd like to train more deeply in the contemporary shamanic work at Dreaming Awake, you'll find us here. If you'd like to explore the recordings from our last Thrutopia Writing Masterclass, the details are here

Vertreter der Modern Monetary Theory plädierten in der Vergangenheit immer wieder für eine Politisierung und Demokratisierung der Zentralbanken. Mitte-Links-Regierungen aber trauten sich nie, dies zu realisieren. Die Technokraten wollte man nicht entmachten. Jetzt kommt Donald Trump, der massiv Einfluss auf die Fed nehmen will. Gewiss, dahinter steckt nicht die Absicht einer Demokratisierung, aber vielleicht ist es wenig zielführend, von links bloß den technokratischen Status quo zu verteidigen.Zunächst ist es wichtig, genau zu verstehen, wie das Fed-System aufgebaut ist und welche Strategie die Trump und die Republikaner gerade verfolgen. Es gibt in den USA nicht nur eine Zentralbank mit einem Chef namens Jerome Powell, die Struktur ist komplizierter und der Machtapparat gestaltet sich wesentlich komplexer, als es momentan viele wahrhaben wollen.In der neuen Folge von „Wohlstand für Alle“ sprechen Ole Nymoen und Wolfgang M. Schmitt über die Fed und Trumps Pläne!Literatur/Quellen:Adam Tooze: "Chartbook 406 Trump v. the Fed: or how history is forcing the question of a democratic politics of central banking", online verfügbar unter: https://adamtooze.substack.com/p/chartbook-406-trump-v-the-fed-or.Zur Struktur des Fed-Systems: https://www.atlantafed.org/about/publications/fed-structure-and-functions/structure. Zur Geschichte des Fed-Systems: https://www.federalreservehistory.org/essays/federal-reserve-historyVeranstaltungen:Am 14.9. ist Wolfgang in Krefeld: https://pax-christi-krefeld.de/veranstaltung/Kann-Kunst-anachronistisch-werden-2025.09.14/Am 18.9. ist Wolfgang in Lübeck: https://buddenbrookhaus.de/programmAm 20.9. ist Wolfgang in Frankfurt: https://www.fr.de/ueber-uns/fr80-sti1525791/Unsere Zusatzinhalte könnt ihr bei Apple Podcasts, Steady und Patreon hören. Vielen Dank!Apple Podcasts: https://podcasts.apple.com/de/podcast/wohlstand-f%C3%BCr-alle/id1476402723Patreon: https://www.patreon.com/oleundwolfgangSteady: https://steadyhq.com/de/oleundwolfgang/about

** Tuesday evening, Bob will join our weekly online gathering where we'll listen to the podcast together and discuss. Bring your questions for him. September 9 at 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/1HA3nd_5QFSFzBe_cGiHpw This is Bob Hockett's 12th visit to Macro N Cheese. Back in 2022, in an episode discussing the collapse of the major crypto exchange platform FTX, Bob gave us a useful rule of thumb: “The irony is that in every one of these cases there is a clue in the name of the product in question that ought to warn you. If it's called a junk bond, there's a reason for that word “junk” being used. And if it's called a subprime mortgage loan... there's a reason for that “subprime” term. Similarly with cryptocurrency or crypto assets, one of the most ironical names ever conceived for this kind of product. If the word “crypto” comes into it, then that's a pretty good tip-off that there's something non-transparent about it, that there's something opaque and occluded and difficult to understand.” Hmmm... today's topic is the GENIUS Act. What meaning should we take from that name? In this episode, Bob and Steve talk about the newly-passed GENIUS Act whose stated purpose is regulation of the stablecoin industry, bringing the shadow banking industry into the light and out of the, um, shadows. The discussion looks at the flawed premise of private stablecoins and the real motives behind the push. Far from preventing instability and fraud, promotion of stablecoin aligns with a libertarian ideology (a la Hayek) that seeks to denationalize currency and privatize money. From a Modern Monetary Theory perspective, the implications are alarming. It merits a discussion of the role of the state. The GENIUS Act is a dangerous distraction. A Trojan Horse. Robert C. Hockett is the Edward Cornell Professor of Law at Cornell Law School. His principal teaching, research, and writing interests lie in the fields of organizational, financial, and monetary law and economics His forthcoming and recent books are: World Money (Yale 2026); A Republic of Producers (Yale 2025); Making Capital Democratic (Polity 2025); Spread the Fed (Palgrave 2025); The Citizens' Ledger (Palgrave 2022); Democratizing Finance (Verso 2022); Money from Nothing (Melville House 2020); Financing the Green New Deal (Palgrave 2020). @rch371 on X

Economic Update returns next week to its regular schedule! This week's episode was recorded in June this year and covers topics our viewers have written to us and requested. Professor Wolff explains what deficits are and why the capitalist system enables and invites employers to cause them. He then proceeds to explain how deficits both solve specific problems of capitalism while also causing others. Over time, problems accumulate to undermine the credit of the US and bring economic crisis. Modern Monetary Theory (MMT) is shown to offer one way out of the crisis by changing how money is created.    The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so.  You can support our work by joining our Patreon community:  https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate     Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else.  We want to thank our devoted community of supporters who help make this show and others we produce possible each week. We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

Join our Membership or Support our Channel to get access to perks:https://www.youtube.com/channel/UC1yEY95beOqcUz5TUqxqVgQ/join

Is everything you know about government spending upside down? Zachary and Emma welcome trailblazing economist and author Stephanie Kelton, champion of Modern Monetary Theory (MMT), to challenge the way we think about deficits, inflation, and what really matters for America's financial future. Stephanie warns about the real dangers behind rising wealth inequality, explores the impact of Trump's One Big Beautiful Bill, and highlights countries that have rewritten their economic playbooks. What Could Go Right? is produced by The Progress Network and The Podglomerate.For transcripts, to join the newsletter, and for more information, visit: theprogressnetwork.orgWatch the podcast on YouTube: ⁠⁠⁠https://www.youtube.com/theprogressnetwork⁠⁠⁠And follow us on X, Instagram, Facebook, TikTok: @progressntwrk Learn more about your ad choices. Visit megaphone.fm/adchoices

Money, debt, and finance shape the lives of everyone globally, including through the policies and actions of national central banks – yet even those who are well-versed in these subjects often miss the full scope of these intricate relationships. For the average person, headlines about mounting government debt and surging interest rates often feel like a confusing and concerning trend. What can we learn from historical cycles, global energy dynamics, and the differing fiscal strategies of nations about the trajectory of the world economy? In today's episode, Nate is joined once more by Lyn Alden for a deeper exploration of the intricate relationships between fiscal dominance, rising levels of debt, and the role of energy in shaping our current financial realities. Lyn explains how a historical analysis shines light on the gaps in economic theories like Keynesianism and Modern Monetary Theory, and what the implications are for our present situation. Using this perspective, they discuss recent trends in Bitcoin, Stablecoins, and Artificial Intelligence – and what further developments in these areas might mean for average people in developed and developing countries alike.  How can a deeper understanding of these dynamics prepare us for the economic challenges ahead? What lessons can we draw from past instances when public debt reached unsustainable levels? And as governments attempt to navigate familiar problems with new approaches, how might individuals prepare for the acceleration of this unstoppable train as we head into an increasingly uncertain future? (Conversation recorded on May 28th, 2025)   About Lyn Alden: Lyn Alden is an independent analyst and founder of Lyn Alden Investment Strategy with a background in engineering management. Her work provides institutional-level research in plain English, so that both institutional investors and retail investors can benefit from it. Lyn also serves as an independent director on the board of Swan.com and as a general partner at the venture capital firm Ego Death Capital. She is the author of the 2023 best-selling book Broken Money about the past, present, and future of money through the lens of technology. Lyn has a bachelor's degree in electrical engineering and a master's degree in engineering management, with a focus on engineering economics, systems engineering, and financial modeling. She worked for over a decade as an electrical engineer at the Federal Aviation Administration's William J. Hughes Technical Center.   Show Notes and More Watch this video episode on YouTube   Want to learn the broad overview of The Great Simplification in 30 minutes? Watch our Animated Movie.   ---   Support The Institute for the Study of Energy and Our Future Join our Substack newsletter Join our Discord channel and connect with other listeners  

Bob Murphy and Jonathan Newman take on the rising popularity of Modern Monetary Theory and explain why it stands in direct opposition to Austrian economics. Using clips from the documentary Finding the Money, they critique MMT's core assumptions, from government spending and deficit myths to the origins of money itself. They offer historical evidence, economic logic, and biting rebuttals to MMT's claims, exposing its flaws and clarifying what's really at stake in today's monetary debates.Recorded at the Mises Institute in Auburn, Alabama, on July 24, 2025.Mises University is the world's leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.

**You're invited to join us Tuesday evening for Macro ‘n Chill, an online gathering where we can listen to and talk about this episode. Tuesday July 15, 8pm ET/5 pm PT Click here to registerThis week we're releasing an interview Steve did as a guest of Jim Byrne, host of MMT101 podcast. Steve and Jim have much in common, so it's interesting to hear how their approaches differ. In part, this is related to the conditions of their nationalities. Jim, in Scotland, isn't faced with the myth of political democracy. They have a devolved government, under the thumb of Westminster, with no control over the economic levers. The demands are straightforward: more money... and independence. Jim says he prefers to see MMT “purely as a technical – almost a technical description – with a bit of theory thrown in there, because of course T stands for theory.” Steve describes his 15-year journey with MMT. Originally, he focused on the “wonky stuff,” the mechanics of the monetary system. He came to understand that people aren't interested until they can see how it relates to their own lives. Today he maintains that MMT should be connected to real-world issues such as class struggle, poverty, student debt, and geopolitical conflicts like the horrific situation in Gaza. The episode is a great conversation between two MMT activists. Despite their differences, they find they have much in common. Jim Byrne is currently developing an MMT foundation course aimed at beginners and intermediate learners, as well as people who already know about economics but are curious about Modern Monetary Theory. Follow his work and the MMT101 podcast at mmt101.substack.com @MMT101DotORG

In the latest episode of Minor Issues, Mark Thornton unpacks a deceptively simple question and follows its answer deep into the heart of economic history and theory. Drawing on insights from Hayek, Cantillon, Menger, and even WWII prisoner-of-war camps, Mark explores how money actually emerged—not from the decrees of kings or bureaucrats, but from the spontaneous actions of everyday people solving real problems in a barter economy. Mark challenges the fable of state-created money and confronts the dangerous logic of Modern Monetary Theory. This is not just a history lesson—it's a blueprint for understanding inflation, fiat failure, and the path to sound money.Additional Resources"Who Really Invented Bitcoin?" (Minor Issues, episode 128): https://mises.org/MI_128An Essay on Economic Theory by Richard Cantillon (see Part 1, Chapter 17, "Metals and Money, and especially of Gold and Silver"): https://mises.org/MI_128_ARegister for the 2025 Mises Institute Supporters Summit in Delray Beach, Florida, October 16–18: https://mises.org/ss25Be sure to follow Minor Issues at https://Mises.org/MinorIssues

Sumo used to be a handyman and worked on crazy houses built into cliffs.It should be a law that businesses have to accept cash.Money is debt and has no value outside of taxation. Taxes are redemptive, when you pay taxes the money disappears.Your taxes don't actually pay for anything.You have to earn money before you spend it. The government spends it first, then gets it back.The original purpose of writing was for accounting.A coincidence of wants, debt precedes money.Fuzzy credit, mans laughter, and blood feuds. Money begins as blood debt.Sovereign Citizen stuff.Taxes force you to use the government's money.Money is a bloody disaster.Debt comes first, debt is money and the deficit doesn't matter. The government has infinite power to control the value of money.People hate the truth and want to hear lies.But what about inflation in Weimar Germany and local taxes?How Jesus pays for our sins. Ransom Theory, The Economy of Salvation, Treasures of Merit and Penal Substitutionary Atonement.Defining yourself against degeneracy.Everything is everything and everything is your fault.The role of the City of Refuge and the Avenger of Blood in the Old Testament.More Linkswww.MAPSOC.orgFollow Sumo on TwitterAlternate Current RadioSupport the Show!Subscribe to the Podcast on GumroadSubscribe to the Podcast on PatreonBuy Us a Tibetan Herbal TeaSumo's SubstacksHoly is He Who WrestlesModern Pulp

In this intensely eye-opening episode of "Impact Theory with Tom Bilyeu," Tom launches a deep dive into the alarming patterns of national economic failure, using the infamous collapse of Argentina in 2001 as his starting point. With the precision of an investigative storyteller, Tom brings you face-to-face with the stark reality behind global financial crises—not as distant tragedies but as urgent, mathematical inevitabilities now encroaching on the United States. Drawing on the research and insights of Ray Dalio, the legendary hedge fund manager, Tom unpacks "The Big Debt Cycle," explaining in clear terms the six phases every collapsing nation inevitably traverses. For those searching for solutions, Tom presents Ray Dalio's concept of "beautiful deleveraging" as a rare, hopeful path. He walks through the gritty details of what it takes to bring a runaway debt-strangled nation back from the brink—explaining the painful, necessary balance between austerity, debt restructuring, redistribution, and well-calibrated money creation. Using historical case studies, modern economic policy debates, and concrete steps, Tom explores how America can navigate this perilous moment—and why collective literacy and moral discipline are the keys to building a sustainable future. If you want to be part of the vital 2% who choose awareness, action, and resilience, this episode is your manual. SHOWNOTES 08:58 Debt-Fueled Economic Bubbles 11:04 Debt, Deficits, and Government Games 20:26 Modern Monetary Theory basics 30:53 Global Unrest and Authoritarian Trends 40:31 "Impending U.S. Collapse and Solutions" 55:13 Ray Dalio's Deleveraging Strategy CHECK OUT OUR SPONSORS Vital Proteins: Get 20% off by going to https://www.vitalproteins.com and entering promo code IMPACT at check out Allio Capital: Macro investing for people who want to understand the big picture. Download their app in the App Store or at Google Play, or text my name “TOM” to 511511. iTrust Capital: Use code IMPACTGO when you sign up and fund your account to get a $100 bonus at https://www.itrustcapital.com/tombilyeu  Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact SKIMS: Shop SKIMS Mens at https://www.skims.com/impact #skimspartner Learn more about your ad choices. Visit megaphone.fm/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this intensely eye-opening episode of "Impact Theory with Tom Bilyeu," Tom launches a deep dive into the alarming patterns of national economic failure, using the infamous collapse of Argentina in 2001 as his starting point. With the precision of an investigative storyteller, Tom brings you face-to-face with the stark reality behind global financial crises—not as distant tragedies but as urgent, mathematical inevitabilities now encroaching on the United States. Drawing on the research and insights of Ray Dalio, the legendary hedge fund manager, Tom unpacks "The Big Debt Cycle," explaining in clear terms the six phases every collapsing nation inevitably traverses. For those searching for solutions, Tom presents Ray Dalio's concept of "beautiful deleveraging" as a rare, hopeful path. He walks through the gritty details of what it takes to bring a runaway debt-strangled nation back from the brink—explaining the painful, necessary balance between austerity, debt restructuring, redistribution, and well-calibrated money creation. Using historical case studies, modern economic policy debates, and concrete steps, Tom explores how America can navigate this perilous moment—and why collective literacy and moral discipline are the keys to building a sustainable future. If you want to be part of the vital 2% who choose awareness, action, and resilience, this episode is your manual. SHOWNOTES 08:58 Debt-Fueled Economic Bubbles 11:04 Debt, Deficits, and Government Games 20:26 Modern Monetary Theory basics 30:53 Global Unrest and Authoritarian Trends 40:31 "Impending U.S. Collapse and Solutions" 55:13 Ray Dalio's Deleveraging Strategy CHECK OUT OUR SPONSORS Vital Proteins: Get 20% off by going to https://www.vitalproteins.com and entering promo code IMPACT at check out Allio Capital: Macro investing for people who want to understand the big picture. Download their app in the App Store or at Google Play, or text my name “TOM” to 511511. iTrust Capital: Use code IMPACTGO when you sign up and fund your account to get a $100 bonus at https://www.itrustcapital.com/tombilyeu  Shopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impact SKIMS: Shop SKIMS Mens at https://www.skims.com/impact #skimspartner Learn more about your ad choices. Visit megaphone.fm/adchoices

The national deficit usually feels like an abstract talking point: America's permanent credit card bill that just keeps getting bigger, without ever coming due.But suddenly, our national debt has a real cost. As President Donald Trump's proposed tax cuts threaten to add trillions to the deficit, every major credit rating agency has now downgraded the United States' credit rating, suggesting that the U.S. is no longer a reliable borrower — a move with potentially disastrous, far-reaching consequences for the global economy.To unpack what's at stake, David Sirota sits down with Stephanie Kelton, a world-renowned economist and pioneer in Modern Monetary Theory, to ask her big questions: What does a credit downgrade mean? Should we really be thinking about America's spending and debt like it's a household budget? And how exactly could too much national debt bankrupt the country? The answers, argues Kelton, necessitate transforming our perception of money itself.

Joshua Mawhorter joins us to talk about how the fiat-money theories of Modern Monetary Theory and chartalism aren't supported by the historical facts. Articles and resources mentioned: Is It Money Because It Is Redeemed in Tax Payments? A Response to Kelton and Wray by Per Bylund. MMT and US History: Redefining Chartalism by Joshua Mawhorter.MMT, Chartalism, and the Colonial Experience by Joshua Mawhorter.How the Classical Gold Standard Fueled the Rise of the State by Ryan McMaken.Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbardRadio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off

We’re experimenting with something. As we work toward a complete breakdown of the federal budget in a comprehensive essay and companion episode, we’re bringing our audience into the content creation process. We have a feeling this is going to be one of our behemoth entries into the canon (and potentially a two-parter.) So rather than overwhelm everyone with information in one shot, we thought it would be useful to break it apart as we go. The first two entries made it to YouTube already but I’m packaging them up in a single episode today. The first is how the GOP budget disproportionately impacts red states. And not in a good way. The second brings us back to our Modern Monetary Theory (MMT) discussions and reframes the way we think about the national debt. Both are crucial building blocks in our understanding of the federal budget. Access the episode resources. Chapters Intro: 00:00:36 Red State: Fucked. 00:01:30 We Solved the Debt Crisis: 00:06:39 Post Show Musings: 00:21:49 Outro: 00:25:05 Resources Congress: H.R.1 - 119th Congress (2025-2026): One Big Beautiful Bill Act Bipartisan Policy Center: Federal Balancing Act White House: Fiscal Year 2026 Discretionary Budget Request Jacobin: Trump’s Budget: Starving Everything Except the Military Bloomberg Television: Millstein on US Downgrade, Tariffs, Trump Tax Bill PBS News: What’s inside the House GOP’s budget bill? Here’s a look Congress: H.Con.Res.14 PGPF: Chart Pack: The U.S. Budget PGPF: What Is Budget Reconciliation? The Conference Board: Reforming the Broken Federal Budget Process NACO: U.S. House passes reconciliation bill: What it means for counties Bipartisan Policy Center: What’s in the FY2025 Senate Budget Resolution Georgetown CCF: Medicaid and CHIP Cuts in the House-Passed Reconciliation Bill Explained Reuters: US Treasuries: Who owns US debt? UNFTR Resources Modern Monetary Theory. Stock Buybacks Surge. Updated Tax Evasion Figures. Video: GOP Spending Bill is a Red State Bloodbath Video: Big Bullsh*t Bill adds $2.4 trillion to National Debt 5NN -- If you like #UNFTR, please leave us a rating and review on Apple Podcasts and Spotify: unftr.com/rate and follow us on Facebook, Bluesky, TikTok and Instagram at @UNFTRpod. Visit us online at unftr.com. Join our Discord at unftr.com/discord. Become a member at unftr.com/memberships. Buy yourself some Unf*cking Coffee at shop.unftr.com. Visit our bookshop.org page at bookshop.org/shop/UNFTRpod to find the full UNFTR book list, and find book recommendations from our Unf*ckers at bookshop.org/lists/unf-cker-book-recommendations. Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility. Unf*cking the Republic is produced by 99 and engineered by Manny Faces Media (mannyfacesmedia.com). Original music is by Tom McGovern (tommcgovern.com). The show is hosted by Max and distributed by 99.Support the show: https://www.buymeacoffee.com/unftrSee omnystudio.com/listener for privacy information.

**This Tuesday evening, C. Derick Varn will join us for Macro ‘n Chill, our weekly community gathering. While listening to this episode, folks will have the opportunity to ask questions and engage in discussion. June 10th, 8 pm ET/5 pm PT Click HERE to register This episode is the first of a two-part discussion delving into historical splits within socialism. C. Derick Varn, the host of Varn Vlog, has an extensive background in philosophy, anthropology, and history. He takes us from the First and Second Internationals to the ideological divergences of Trotskyism and Stalinism. He also discusses the factions within Leninism, the impact of World War I on socialist strategies, and the emergence of Trotskyist and Marxist-Leninist thought. The episode navigates through key historical figures, including Lenin, Trotsky, and Stalin. Of course it wouldn't be Macro N Cheese without a look at Modern Monetary Theory and its place in a discussion of socialist theory. C. Derick Varn is a poet, teacher, and political theorist. He is the host of Varn Vlog. He was a reader at Zer0 books from 2015 to 2021. He spent most of the 2010s outside the U.S. in the Republic of Korea, Mexico, and Egypt. He is the author of the poetry collections, Apocalyptics and Liberation and All the Bright Etcetera. https://varnblog.substack.comFind all his links at https://allmylinks.com/dionysuseatsyou .

In this week's Politics Block we take a call from a listener asking about the Save Act and what, if any, restrictions should be placed on potential voters' rights. We then discuss Trump's “Big Beautiful Tax Bill,” seeking to determine just how progressive or regressive it actually is. We close with a brief teaser about the effect Modern Monetary Theory might have on the tax issue.

China, Cultural Revolution, Mao, Hua Guofeng, Gang of Four, China's shift to capitalism, China's economy, the Sino-Soviet split and how it effected China in the long run, China and the World Trade Organization, China's global infrastructure, Belt and Road Initiative, Trump 2.0's love/hate relationship with the Chinese economy, the purpose of deindustrialization in the US, how US corporations cannibalize one another, Trump's position on US Treasuries, how tariffs relate to Treasury yields, Modern Monetary Theory (MMT), how Trump 2.0 is employing MMT, how Trump's NATO policy factors in, private military companies, the prospect of the US further outsourcing military services, Trump's relationship with the Fed & Jerome Powell, DEI and how it plays into Trump's strategy, why the Democrats are doing so little to uphold DEI, how the situation in Palestine effects Trump's economic agenda, will the US go to war with China?River misspoke on Guofeng's role in the Gang of Four trial: "re: Hua Guofeng and the Gang of Four. He helped to arrest the gang of four only one month after Mao's death in 1976. Trial was in 1981. When I said he didn't persecute the gang of four I was wrong, he did. I conflated his unwillingness to further the revolution (and unwillingness to stop it- same pattern of not taking the initiative we talked about) with his actions towards the gang of four."Music by: Keith Allen Dennishttps://keithallendennis.bandcamp.com/Additional Music: Chay and the Hostageshttps://chaythehostages.bandcamp.com/album/trigger-warning Hosted on Acast. See acast.com/privacy for more information.

Dan finally bends to audience pressure and covers Modern Monetary Theory, tune to find out if he is a fan of this total BS.

The Modern Monetary Theory (MMT) crowd prides itself on fidelity to actual history. But Murphy shows how leading MMT guru Randall Wray completely distorts his discussion of two historical episodes in his college lecture.Wray, "Modern Money Theory for Beginners": Mises.org/HAP496aThe NBER Paper on Colonial Virginia's Money Regime: Mises.org/HAP496bNPR Planet Money, "A Giant Stone Coin At The Bottom Of The Sea": Mises.org/HAP496cMilton Friedman, "The Island Of Stone Money": Mises.org/HAP496dBob's Article, "MMT and Treasury Debt Payoff": Mises.org/HAP496eThe Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFreeJoin the Mises Institute on April 26 in Phoenix, Arizona, as we expose the danger and waste of bureaucracy: Mises.org/Phoenix25

Fresh from Empowered Investor Live in Irvine, CA, Jason welcomes Mike Maloney, author and monetary policy expert from goldsilver.com, as they discuss the current "scary craziness" in the stock market, drawing parallels to the 1987 crash while noting increased public exposure to stocks. He critiques the fiat currency system, explaining how bank lending creates money and causes inflation, advocating for real assets like gold and real estate. Maloney also labels Modern Monetary Theory (MMT) a "fraud" and wealth transfer, favoring free-market principles for prosperity. If you'd like to invest with Mike, go to https://goldsilver.com/ Get free chapters of Mike's new book at https://ggsr21.com/ Today's sponsor https://JasonHartman.com/Connected offers real estate investors access to Connected Investors' PiN (Property Intelligence Network) software. This tool provides nationwide property data, including features like unlimited individual property skip tracing, comprehensive property reports, and a Contract Genie for generating legal documents. Subscription options are available on a monthly or annual basis, with the annual plan offering additional benefits such as a dedicated product specialist. The platform emphasizes its commitment to providing accurate, up-to-date information to assist investors in making informed decisions. Visit http://jasonhartman.com/connected today!   Key Takeaways: 1:38 Introducing Mike Maloney  3:03 The scary, current stock market, gold and real estate and inflation 12:53  Sponsor: https://jasonhartman.com/connected 14:17 Inflation Induced Debt Destruction 15:58 Modern Monetary Theory 19:15 Blog Post: Analyzing the Nitty-Gritty Differences Selling Land vs. Selling a Home   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

You may have seen the viral clip of Jared Bernstein (former Chair of the Council of Economic Advisors for Biden during the Obama Administration), fumble through answering the questions: if the United States just makes its own currency… why would it ever borrow money or go into debt? Why doesn't the government just… create more money? Nicole taps in to answer this question today and along the way, explains the new economic school of thought— Modern Monetary Theory— that is turning this question on its head. As promised, here is the cringe-y clip: https://x.com/FindingMoneyDoc/status/1786050601236779078