From the Author
I m in Zurich on March 25 at the Park Hyatt Grand Ballroom at 4 p.m. making a presentation at the CrossRoads Workshops on Emerging markets and the Decadence of the European Model. If you want to meet, pop on by.
This book provides a good explanation of monetary operations (central and commercial banks). It explains an economic/monetary system that I learnt from trading and making money versus getting a doctorate in economics. It is probably the reason why I could see it from "outside of the box". Another book of mine, The Deadly Seven Innocent Frauds of Economic Policy is written for the general public and explains, using many of the economic/monetary concepts in this book, the divergence between "approved belief" and "what was reality" in economics. The "approved belief" system for monetary policy is in many cases "college approved" and is a long way from reality. For example, the notion that deficits are bad for the economy and the population, when in fact close examination reveals that government deficits are private sector savings to the penny. Review the Introduction of the book. It may very well shock many economists because the Innocent Frauds are primarily based on what has been learnt. Any professors or TV hosts that read any of my books, I am available to debate the issues raised in my books. Contact information is in the books.FYI - Professor Stephanie Kelton did a great job explaining Modern Monetary Theory on Lauren Lyster's show on December 12, 2012. Find the video.
From the Back Cover
"In this model of clarity, Warren Mosler debunks (in his own words) so many of the 'innocent frauds' that have contributed to our current economic and social malaise. More importantly, Mosler is no Ivory Tower academic. He has been a highly successful money manager, and his characterization of our modern monetary system is spot on: Mosler far more accurately depicts market realities than any of the self-styled "mainstream" economics textbooks, which dominate in the halls of academe, and in the corridors of power in Washington, Brussels, and Asia. This book should not only become mandatory reading for students of economics, but any policy maker who truly wants to deal with the grave disasters engendered from years of "reading from the wrong playbook." Marshall Auerback, Director Institute for New Economic Thinking, Pinetree Capital portfolio strategist, Fellow for the Economists for Peace and Security, Research Associate, Levy Institute.
About the Author
Warren Mosler is a world renowned financier, economist and entrepreneur. For Mosler, life has always been about the intellectual challenge of reducing seemingly complex phenomena to their simplest terms in the chase for the "elegant solution".
As a financier, Mosler is the co-founder of Illinois Income Investors (III), a family of leveraged fixed income investment funds. He developed numerous successful strategies that utilized US Government securities, mortgage backed securities, LIBOR swaps and LIBOR caps, and financial markets in a market neutral, zero duration strategy. Mosler originated the 'mortgage swap' in 1986 and orchestrated the largest futures delivery to date (over $20 billion notional) in Japan in 1996. He is also the inventor of a swap futures contract currently in operation (in a muted form) by a major exchange. III was rated number by MAR in risk adjusted returns for the prior 10 years in 1997 when he returned control over to his partners.
Warren Mosler is currently the Present of Valance Co, Inc. located in St. Croix in the US Virgin Islands, where he resides. Mosler is also Chairman and majority shareholder of Consulier Engineering (CSLR), President and founder of Mosler Automotive, which manufactures the MT900 sports car in Riviera Beach, Florida; Co-Founder and Distinguished Research Associate of The Center for Full Employment And Price Stability at the University of Missouri in Kansas City; Senior Associate Fellow, Cambridge Center for Economic and Public Policy, Downing College, Cambridge, UK; and Associate Fellow, University of Newcastle, Australia.
