Warren Mosler MMT Youtube Channel

[Joe Leote]

Warren Mosler recently put up videos on core MMT principles:

Understanding MMT - YouTube

The Academic Agent puts up some interesting analysis of philosophy and economic ideas; but when he describes the money supply as M1, M2, M3, and M4, I get the impression that he does not understand the mechanics of Fed Credit and Bank Credit expansion. One cannot debunk MMT by assertions concerning the money supply because money supply (in the United States, for example) is just the liability side of Fed Asset and Bank Sector Asset acquisition. Also money supply can include non-bank liabilities such as money market mutual funds which are caused by non-bank credit expansion. Warren Mosler often argues that interest rates should be set to zero and governments should strictly regulate the formation of credit via the financial system. Based on a small sample of videos I think Academic Agent tends to agree with the Austrian school on economic principles and he does not think the government can correct market defects via regulations. MMT and Keynesians think only the government can improve the real economy and macroeconomic stability via proper public policies.

Joe