Search Results for: a meme for money

By L. Randall Wray Let us continue to develop an alternative frame for money. As you know, MMT says that “taxes drive money”. Let’s develop that further. According to the orthodox meme, taxes are bad—the far right views them as … Continue reading →

By L. Randall Wray In Part 2 we looked at the mainstream framing of discussion about money and about the economy and society more generally. Following Lakoff, my argument is that framing is important and that so far orthodoxy is … Continue reading →

By L. Randall Wray We all know the usual approach to money, that begins with a fantasized story about barter, the search for an efficient medium of exchange, the role of the goldsmith, and then on to the gold standard, … Continue reading →

By L. Randall Wray This is the first part of a series on framing money. I studied with Hyman Minsky in the early 1980s when he was writing his 1986 book (Stabilizing an Unstable Economy). There are two phrases in … Continue reading →

By L. Randall Wray The monetary system is a wonderful creation. It allows for individual choice while giving government access to resources needed to allow it work for us to achieve a just society. The monetary system spurs entrepreneurial initiative. … Continue reading →

By L. Randall Wray Deficits and Debt are probably the most terrifying topic that MMT addresses. We need to be careful. We are treading on moral (or religious) grounds. We know that one should not be a debtor (or, a … Continue reading →

By L. Randall Wray As we have discussed, sovereign government cannot run out of the keystrokes it uses to mark-up balance sheets as it spends. Does our argument rely on modern technology, that sends electrons or photons (I’m not sure … Continue reading →

By L. Randall Wray We take care of our own We take care of our own Wherever this flag’s flown We take care of our own Let me repeat and clarify my purpose in this series. I am attempting to … Continue reading →