Modern Monetary Theory Explained: Government Spends First | Warren Mosler

Donate: 🙏 https://www.buymeacoffee.com/slobodnipoI In this highlight, Warren Mosler explains the core idea behind Modern Monetary Theory: in a sovereign monetary system, the government does not first “collect money” in order to spend it — it must spend first so that the private sector has the money needed to pay taxes and buy government bonds. Mosler argues that most politicians and even many senior policy figures still think in terms of the old gold-standard world, where money was limited by convertibility into gold. But today, he says, central banks operate through accounting entries: they credit and debit bank accounts. His key point is simple but radical: the real distinction is between the issuer of money and the users of money. In the eurozone, national governments are users of the euro — while the European Central Bank is the issuer. Full episode: https://www.youtube.com/watch?v=nG4mxrWQ7T0&list=PLJTy3oXCzHShsVuJ-zfiGnx96nuR-BNWB&index=1 WEB: slobodnipodcast.hr