001 Introduction (46.55 MB)
001 What is economics (34.06 MB)
002 What is microeconomics (20.35 MB)
003 What is macroeconomics (22.92 MB)
004 Schools of macroeconomic thought (26.25 MB)
005 The classical school (18.04 MB)
006 The Keynesian view (43.5 MB)
007 Keynesian macroeconomic policies (16.58 MB)
008 Classical Vs Keynesian views (27.43 MB)
009 The rise and fall of Keynesian economics (37.36 MB)
010 The return of the classical view (30.11 MB)
011 From stabilization to growth & development (48.25 MB)
012 The neoliberal paradigm (51.5 MB)
013 Essentials of modern money – 1 (60.18 MB)
014 Essentials of modern money – 2 (36.93 MB)
015 Essentials of modern money – 3 (84.08 MB)
016 Essentials of modern money – 4 (24.72 MB)
017 Essentials of modern money – 5 (26.54 MB)
018 Essentials of modern money – 6 (30.7 MB)
019 The hierarchy of money (96.45 MB)
020 Hierarchy of monetary institutions (65.73 MB)
021 A case illustrating monetary hierarchies (33.91 MB)
022 Reading a balance sheet (31.31 MB)
023 Liquidity issues (35.83 MB)
024 T-accounts (24.05 MB)
025 T-accounts example (22.3 MB)
026 Comments on balance sheets & T-accounts (43.77 MB)
027 Modern money in a 4-sector economy (91.56 MB)
001 The mainstream discourse on fiscal policy (57.92 MB)
002 The Keynesian view of fiscal policy (81.6 MB)
003 The MMT view of fiscal policy (57.07 MB)
004 Media framing of fiscal policy (36.39 MB)
005 Facts about fiscal deficits (13.24 MB)
006 Framing of public debt (67.71 MB)
007 Facts about public debt (37.11 MB)
008 Self-imposed constraints on fiscal deficits (124.39 MB)
009 Fiscal policy operations (82.61 MB)
010 Fiscal policy operations – Case (1) (118.74 MB)
011 Fiscal policy operations – Case (2) (83.38 MB)
012 Fiscal policy operations – Case (2) – T-accounts (66.5 MB)
013 Fiscal policy operations – Case (2) – Helicopter Money (48.49 MB)
014 Fiscal policy operations – Case (3) (59.22 MB)
015 Fiscal policy operations – Case (3) – Illustrated (96.94 MB)
016 Fiscal policy operations – Case (3) – Flow chart (26.3 MB)
017 Fiscal policy operations – Case (3) – T-accounts (69.75 MB)
018 Fiscal policy operations – Case (3) – Summary (99.34 MB)
019 The Primary Dealer (PD) system (75.05 MB)
020 Repayment of public debt (45.09 MB)
021 A summary of public debt from an MMT perspective (51.16 MB)
001 Orthodox view of banking (74.11 MB)
002 The defunct money multiplier model (116.09 MB)
003 Policy failure of the money multiplier model (21.95 MB)
004 Endogenous money theory (136.42 MB)
005 The elasticity of money creation by banks (67.53 MB)
006 Vertical and horizontal money (35.14 MB)
007 Bank operations (55.98 MB)
008 Interbank money market (43.15 MB)
009 Repo and reverse repo (72.75 MB)
010 Repo and reverse repo – T-accounts (22.89 MB)
011 Cash creation by central banks (32.9 MB)
012 Orthodox vs heterodox views of banking (98.08 MB)
013 Banking and credit crises (56.52 MB)
014 Bank bail-outs (61.77 MB)
015 Capital adequacy issues (67.32 MB)
016 Restoring capital adequacy – Option (1) (31.26 MB)
017 Restoring capital adequacy – Option (2) (37.32 MB)
018 Restoring capital adequacy – Option (3) (51.86 MB)
019 Secular stagnation hypothesis (74.81 MB)
020 Banks and other financial institutions (43.07 MB)
021 "The use and abuse of MMT" (71.67 MB)
001 What is monetary policy (49.39 MB)
002 Monetary policy in theory and practice (67.32 MB)
003 The MMT view on monetary policy (52.05 MB)
004 Interest rate corridor (83.48 MB)
005 Fiscal-monetary policy coordination (42.89 MB)
006 Fiscal-monetary policy coordination (spending) (80.54 MB)
007 Fiscal-monetary policy coordination (taxes) (32.62 MB)
008 Unconventional monetary policy – QE (32.32 MB)
009 QE in practice (98.43 MB)
010 Unconventional monetary policy – NIRP – Theory (88.24 MB)
011 Unconventional monetary policy – NIRP – Practice (56.78 MB)
012 Central Bank independence – orthodox rationale (107.98 MB)
013 Central Bank independence – rise and fall (50.95 MB)
014 The Phillips curve – laid to rest (110.57 MB)
015 Growing opposition to inflation rate targeting and central bank independence (81.04 MB)
016 Central bank profits (90.27 MB)
017 Central bank operations – demonetization (127.56 MB)
018 Foreign exchange markets (54.03 MB)
019 Exchange rate volatility (44.01 MB)
020 Forex operation of central banks – appreciation (36.21 MB)
021 Forex operation of central banks – depreciation (35.1 MB)
022 Holding dollar reserves in US bonds (24.21 MB)
023 The impossible trilemma (59.46 MB)
024 Deconstructing articles in the media – Case (1) (48.62 MB)
025 Deconstructing articles in the media – Case (2) (82.29 MB)
001 Some general remarks on inflation (104.9 MB)
002 Hyperinflation (99.48 MB)
003 MMT and inflation – 1 (73.69 MB)
004 MMT and inflation – 2 (154.87 MB)
005 The profits view (52.65 MB)
006 Kalecki-Levy profits equation (45.93 MB)
007 Kalecki-Levy profits equation – illustrated (16.94 MB)
008 The extended Kalecki-Levy profits equation (27.97 MB)
009 Interpreting the profits equation (107.54 MB)
010 Profits and the price level (42.62 MB)
011 Universal job guarantee (UJG) (117.67 MB)
012 The UJG program and the Phillips curve (93.29 MB)
013 Universal basic income (62.72 MB)
001 Sectoral financial balances – closed economy (83.87 MB)
002 Sectoral financial balances – open economy (50.23 MB)
003 Sectoral financial Balances – illustrated (79.83 MB)
004 Sectoral financial balances – template (116.13 MB)
005 Sectoral financial balances – country studies (61.62 MB)
006 Sectoral financial balances – Iran (42.18 MB)
007 The Eurozone (59.85 MB)
008 The Eurozone – SFB template (98.66 MB)
009 The Eurozone – Germany and France (69.28 MB)
010 The Eurozone – Ireland, Italy and Spain (91.46 MB)
011 The Eurozone – Greek crisis (33.83 MB)
012 The Eurozone – Greek crisis – SFB analysis (83.27 MB)
013 A pure MMT view of the external sector (85.83 MB)
014 A pure MMT view of the external sector – example (75.19 MB)
015 A spectrum of monetary sovereignty (92.1 MB)
016 Balance of payments constraints (85.06 MB)
017 External sovereign debt and monetary sovereignty (45.94 MB)
001 Summary and conclusion (108.78 MB)