What is money? What is *modern* money? In what ways is state-issued fiat money different from a commodity-based money? What is the relationship between money and the state? To what extent can a state have "sovereign" control over its currency? What is the relationship between money and taxes? We will explore these and other questions as they relate to the Modern Monetary Theory (MMT) framework.
BBI has explored MMT before. But this time, we have MMT proponents James Keenan and Adam Rice—hosts of the NYC Deficit Owls Meetup group—joining us to discuss.
This week's reading is a 2009 paper by Randall Wray entitled "Understanding Modern Money: How a sovereign currency works."
You can find Randall Wray's other publications at the Levy Institute website.
For more information, see the Modern MMT Google Group.
Previous related Boston Basic Income topics have included:
BBI #29: CMT vs MMT
BBI #117: Sovereign Money
BBI #123: Money From Nothing
Original YouTube Recording
Image by epSos.de on Wikimedia Commons
