Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems

In Recent Years A New Approach To Macroeconomics Has Been Developed That Challenges Conventional Wisdom And Uncovers How Money 'works' In The Modern Economy. This Book Synthesises The Key Principles Of Modern Money Theory, Exploring Macro Accounting, Currency Regimes And Exchange Rates In Both The Usa And Developing Nations. Randall Wray Addresses The Pressing Issues Of How Misunderstandings About The Nature Of Money Have Caused The Current Global Financial Meltdown, And Provides Fresh Ideas About How Policymakers Around The World Should Address The Continued Weaknesses In Their Economies. 1. The Basics Of Macroeconomic Accounting -- 2. Spending By Issuer Of Domestic Currency -- 3. The Domestic Monetary System: Banking And Central Banking -- 4. Fiscal Operations In A Nation That Issues Its Own Currency -- 5. Modern Money Theory And Alternative Exchange Rate Regimes -- 6. Monetary And Fiscal Policy For Sovereign Currencies: What Should Government Do? -- 7. Policy For Full Employment And Price Stability -- 8. What Is Money? Conclusions On The Nature Of Money. L. Randall Wray. Includes Bibliographical References And Index.