{"product_id":"a-brief-history-of-modern-monetary-theory-a-brief-history-of-economics-edition","title":"A Brief History of Modern Monetary Theory (A Brief History of Economics Edition)","description":"\u003cdiv\u003e \u003cdiv\u003e \u003cdiv\u003e \u003cp\u003e\u003cspan\u003eFor decades, conventional economics warned that governments must tax or borrow before they can spend—that deficits are dangerous, and that printing money inevitably leads to inflation. Then came the iconoclasts. A Brief History of Modern Monetary Theory traces the emergence of one of the most provocative and misunderstood economic ideas of the 21st century, from its obscure origins in the \"chartalist\" insights of Georg Friedrich Knapp and A. Mitchell Innes, through the patient development work of Warren Mosler, Randall Wray, Stephanie Kelton, and others, to its explosive arrival in mainstream political debate during the 2020 pandemic and the Bernie Sanders campaigns. This sharp, accessible narrative unpacks the core MMT claims that have turned economics on its head: that a country issuing its own currency (like the US, Japan, or the UK) can never involuntarily run out of money; that federal deficits are not a burden on future generations but a source of private sector savings; and that the only real constraints on government spending are inflation, real resources, and political will—not some fixed debt limit.\u003c\/span\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eBut is MMT a revolutionary breakthrough that reveals how monetary sovereignty actually works, or a dangerous fantasy that will unleash hyperinflation and destroy faith in the dollar? This book navigates the fierce debates between MMT proponents and their critics—from Paul Krugman's warnings to Larry Summers's dismissals—while also exploring the theory's nuanced answers to the hardest questions: When does spending cause inflation, and how should it be controlled? What role do taxes play if not to fund spending? And how does MMT apply to countries without monetary sovereignty, like eurozone members facing a foreign currency? From \"job guarantees\" to the Green New Deal, from deficit myths to the modern realities of quantitative easing, A Brief History of Modern Monetary Theory is an essential, balanced guide to the idea that challenges almost everything you thought you knew about government money—and forces us to ask what we truly want our economy to do.\u003c\/span\u003e\u003c\/p\u003e \u003c\/div\u003e \u003c\/div\u003e \u003c\/div\u003e","brand":"Books Prime","offers":[{"title":"Default Title","offer_id":45914574618815,"sku":"b2f1c618-704a-4dc3-89ad-a7e3cc99ec13","price":21.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0761\/7550\/7647\/files\/a4b38d742c1bbc26e09c153e7270f3ef.jpg?v=1785059824","url":"https:\/\/books-prime.com\/products\/a-brief-history-of-modern-monetary-theory-a-brief-history-of-economics-edition","provider":"Books Prime","version":"1.0","type":"link"}