Introduction to Modern Monetary Theory

An Introductory Course in Modern Monetary Theory

When: Monday, January 16 & 23
Time: 6:30pm
Where: 64 Harcourt St, North Melbourne
Cost: Free
Registration: email office@prosper.org.au

Do you understand the monetary system? Want a deeper understanding of unemployment, inflation, fiscal policy and the banking system?

Jesse Hermans will present an introductory course in Modern Monetary Theory at Prosper Australia, January 16 & 23, 2017. This workshop delves into the nature of money in the modern economy. Jesse will provide insight into the real issues facing our economy, focussing on real resources rather than notions of financial affordability. If we understand the currency monopoly, we can ensure this monopoly is used the public interest.

Jesse is a passionate advocate for Georgist economics in a Modern Monetary Theory framework. At the age of 18 he began serving on the board of Fair Money Australia. He is one of the youngest Australian economists interviewed by 3CR Renegade Economists. Jesse contributed Prosper’s Speculative Vacancies Report and has written numerous articles for Prosper Australia and Fair Money Australia, some of which have been published in the Australian Journal of Economic Reform.

He wants greater equity and efficiency in our economic system to advance the development and prosperity of all.

All welcome. No prior knowledge required.

5 Comments

  1. David Chester16-12-2016

    Since you in OZ Land have a good reputation of saying things as they are (without any innuendo), perhaps Jessie can recommend a really clear and good text about MMT. I have not properly understood it although I have tried to, and what I do understand seems to me to be warmed up Keynesian Theory, which I regard as being on many topics some of his theories of which are completely false.

  2. Richard16-12-2016

    Can you please clarify, is this a workshop with two sessions, or a single workshop being held twice?

  3. S.H.17-12-2016

    MMT is not ‘warmed up Keynesian theory’ and has nothing at all in common with the Neo-Keynesian economics I imagine you are referring to when you use that term. A good primer is ‘Modern Money Theory’ by Professor L. Randall Wray.

  4. Jesse Hermans26-01-2017

    Hi David Chester,

    If you would like a text to study MMT in depth, the most comprehensive resource available would be the new MMT textbook: http://bilbo.economicoutlook.net/blog/?page_id=33139
    However given its density, I find it is better used as reference for individual topics.
    Most of my learning was done through YouTube videos and reading blog posts, although the textbook did offer some insight, more depth and covered a few gaps which I had missed.

    At some point I will run the workshop again, and hopefully it will be recorded and put up on YouTube etc. as a learning tool… Although it still took me roughly 3-4 hours total to cover all of the general content over two sessions. I’m not sure if this could be considered an improvement over existing YouTube videos, except maybe in its accessibility.

  5. David Chester14-06-2017

    Your reference contains a chapter on MMT but it is mostly about macroeconomics. As an author on theoretical macroeconomics, which includes some limited amount of money theory, I think I know better. My e-copy of “Consequential Macroeconomics–Rationalizing About How Our Social System Works” is free to those who ask me for it. It is not like anything that others think of an being an explanation because it sees this subject as an engineering one. This makes it logical, sensible, slightly mathematical and very scientific. I would still like to know where MMT is different and specific to theories that I might have missed.

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