4 of 5 people found the following review helpful
Everything now makes sense,
Verified Purchase(What's this?)
This review is from: Understanding Modern Money:The Key to Full Employment and Price Stability (Paperback)
I have a BS in Economics and 33 years experience trading fixed income securities for a living. I read this book in a weekend after going through everything posted on the MMT Primer. I was hooked. Realizing taxes create demand for fiat money and the money multiplier starts with the loan being made and not the other way around makes so much sense. When S&P downgraded the US I argued with a Bloomberg Economist that S&P was opining on the ultimate value of the US dollar paid back when the bonds mature and not on the likelihood of default and that was not their job. I now have a better way of saying it.