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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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government debt

Federal Reserve, U.S. Treasury, government debt, Modern Monetary Theory
Financial Markets, Money & Politics, The Fed & Central Banks

On Empty Purses and MMT Rhetoric

George Selgin/March 5, 2019June 19, 2022

A couple posts ago, I criticized in general terms Modern Monetary Theorist Stephanie Kelton’s suggestion that the expense of the proposed Green New Deal need not make it “a drag on the economy” since the Fed could always foot the bill. That post steered clear of the…

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Green New Deal, Modern Monetary Theory, Stephanie Kelton, Federal Reserve, government debt
Money & Politics, News, The Fed & Central Banks

The Modern New Deal That's Too Good to be True

George Selgin/February 8, 2019June 19, 2022

This morning I responded to leading Modern Monetary Theory (MMT) proponent Stephanie Kelton's Huffington Post op-ed, "How We Can Pay for a Green New Deal," with a tweet observing that "MMT often boils down to nothing more than an especially naïve sort of Keynesianism: assume an unlimited…

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interest on excess reserves, output gap, debt monetization, fiscal policy, federal deficit
Booms & Busts, Financial Markets, Money & Politics

The Output Gap, the Federal Budget Deficit, and the Threat of Debt Monetization

Larry White/May 15, 2018June 19, 2022

In April 2018 Congressional Budget Office issued a report on the state of the federal budget in light of the “Tax Cuts and Jobs Act” enacted in December 2017,  the “Bipartisan Budget Act” enacted in February 2018, and the “Consolidated Appropriations Act” enacted in March. The CBO…

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Monetary Conference, Cato, Shelton, Basel, financial crisis, government debt, QE
Events, Money & Politics, The Fed & Central Banks

34th Cato Monetary Conference: Central Banks and Financial Turmoil

Ari Blask/November 23, 2016June 19, 2022

More than two hundred people came to Cato last Thursday, November 17th, for the 34th Annual Monetary Conference. Four panels and two keynote speakers covered “Central Banks and Financial Turmoil,” the theme of this year’s conference. In his introduction, CMFA’s James Dorn laid out some of the key…

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bankruptcy law, government debt, Puerto Rico, secured bondholders, U.S. Treasury
Financial Markets, News, Recommended Reading

The Administration’s Puerto Rico Jujitsu Threatens the States’ Ability to Borrow

Ike Brannon/March 3, 2016June 19, 2022

The New York Times reported last week on some of the details of the Obama Administration’s recovery plan for Puerto Rico, and it does not bode well for investors — or for states and municipalities that borrow money. The island’s government is $72 billion in debt, with…

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Contributors

  • Hu McCulloch
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  • Larry White
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Recent Posts

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  • The New Deal and Recovery, Part 25: The RFC, Continued
  • The New Deal and Recovery, Part 24: The RFC
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  • The New Deal and Recovery, Part 22: Postwar Monetary Policy
  • Diamond and Dybvig and the Panic of 1907
  • Diamond, Dybvig, and Government Deposit Insurance

About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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