A Kindergarten Guide to Modern Monetary Theory by Frank Ashe

When reading about modern monetary theory I suggest the following procedure:

  • Forget who you are.
  • Forget what you think of government – good or bad – unless you are going to be able to get rid of government (that is, establish pure communism) you are stuck with it.
  • Forget what you think of social policy – you may hate the unemployed or you may feel compassion – forget all emotions.
  • Forget what nation you live in – it doesn’t matter.
  • Forget all prior economic concepts and training (if any).
  • Then just try to understand what you read.

Bill Mitchell