Daily Archives: May 7, 2019

ZEN and the Art of Modern Money (Part 2)

MMT for People in a Hurry


POST #2  (See POST #1 here)

FIRST: Prime the fuel-pumps

As it stands, our diagram-machine has no fuel (“money”) in it, so it can’t operate. We could go through an exercise to imagine how it could prime itself in order to begin operations. But this would lead to other topics and considerations which would only distract us from our present goal—which is to simply understand HOW the diagram-machine operates—and how, and when, in the course of its operations, it creates money. To move things along, we’ll simply (and arbitrarily) populate the machine with some money to get it started.

Continue reading