Kirjahaku

"Spending is not the depletion of wealth, it is the transfer of ownership of money. And that transfer of ownership of money activates the economic activity that creates and maintains wealth."........... The classic work on Macroeconomics by John Maynard Keynes called "The General Theory of Employment, Interest and Money" is notoriously difficult to read. It was my initial goal to attempt to read and fully understand Keynes' work and then to produce a study guide of sorts, in order to make his concepts more accessible. This attempt turned into a major project that took years to accomplish. I believe the result of that effort, this book, captures the essence of the most important concepts Keynes discovered. However, in the process I discovered that, in order to properly understand those concepts, new definitions for currently used terms and new ways of organizing macroeconomic models are necessary. One might think that attempts to do so would just make everything more complicated and difficult to understand, but the opposite is true. The way of organizing and explaining the concepts shown in this book leads to the development of a comprehensive and fully consistent model of macroeconomics, a model that is actually easier to understand. I hope you will agree. This a second edition of this book. Included in this edition are improvements in wording and presentation to make it more readable as well as an improved and expanded treatment of international trade.

Modern Monetary Theory (MMT) is a model of economics that has gained more attention in recent years, likely because of its message that countries who create their own currency can never run out of money and will always be in a position to pay for any expenses. Such spending, MMT proponents allege, is not impaired by the inability to raise sufficient funds by taxes, and further, borrowing to pay for government spending provides no obstacles due to the ability of the government to create more money and support any required borrowing by the government. Critiques of MMT are often just based on an underlying belief that it "sounds wrong", or is an attempt to get "something for nothing". Many others who have attempted to understand this model have been left confused. As it turns out, the model of economics I presented in the book "Enlighten Capitalism: A Keynes Primer" allows, in my opinion, a thorough and objective analysis of the tenets of MMT. I focus on a few central concepts that I believe will allow the reader to understand what might be right, and what might be wrong in the MMT model, and make their own decisions about the wisdom of adopting their recommendations.