Setting the boundaries between fiscal and monetary policy.

Not long ago, the CMFA staff and I were preparing to officially launch The Menace of Fiscal QE, my book aimed at countering efforts to have the Fed undertake or otherwise fund off-budget government spending programs. Then came the crisis. Of course our plans were dashed. But…

mmt, banking regulation, bank run, bank failure, regulation, free banking

Yesterday morning, a Modern Monetary Theorist tweeted part of a 2017 interview he did with Warren Mosler, one of that school's leading proponents and benefactors. As the clip was titled "Against Free Banking: The Liability Side Isn't The Place For Market Discipline," yours truly couldn't resist a…