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Modern Money Theory

A Simple Guide to the Monetary System

  • Book
  • © 2024

Overview

Authors:
  1. Dirk Ehnts

    1. Berlin, Germany

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  • Offers a comprehensive introduction to modern monetary theory
  • Explains how central banks, banks and governments create money
  • Written in an accessible style, without requiring any prior knowledge of economics

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-viii
    Download chapter PDF

  2. Introduction

    • Dirk Ehnts
    Pages 1-2

  3. The Biden Administration and the Copernican Turn

    • Dirk Ehnts
    Pages 3-28

  4. The Paper Currency of Virginia (1760s) and Its Lessons

    • Dirk Ehnts
    Pages 29-47

  5. Modern Money Theory as Part of Economics

    • Dirk Ehnts
    Pages 49-72

  6. What is Economic Policy?

    • Dirk Ehnts
    Pages 73-96

  7. Economic Policies Based on MMT

    • Dirk Ehnts
    Pages 97-122

  8. Outlook

    • Dirk Ehnts
    Pages 123-126

  9. Back Matter

    Pages 127-130
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Keywords

About this book

This book explains how central banks, banks and governments create money. Written in an accessible style, this book provides an introduction to modern monetary theory without requiring any prior knowledge of economics. It covers the most important aspects of monetary theory, including inflation targeting, government spending, and international trade, as well as economic policy to achieve macroeconomic goals, such as price stability, full employment and sustainable use of resources. Accordingly, it offers a valuable asset for students of economics, central bankers, banking professionals, and academics alike.

Reviews

“I very much enjoyed working with Dirk on a variety of segments of his latest book. It's one of the very few that is fundamentally grounded in an understanding of monetary operations as practiced by all central banks, which gives the reader a sound basis for the analysis of today's monetary economies.”
–Warren Mosler, inventor of Modern Monetary Theory

"Ehnts’ no-nonsense introduction to MMT gets into the most up-to-date consequences of the Covid 19 crisis and government responses."
–Maren Poitras, director “Finding the Money”

“This compact introduction to all aspects of modern monetary theory is an exemplary work of popular science. The author, Dirk Ehnts, is a brilliant communicator, Europe's answer to Stephanie Kelton, and the book is an accessible and comprehensive guide to the first major challenge to mainstream macroeconomics in 70 years.”
–Steven Hail, Torrens University Australia

"Offering a rigorous analysis of the monetary system, this book should be on the desk of every public and government employee."
–Stephanie Kelton, author of “The Deficit Myth”



Authors and Affiliations

  • Berlin, Germany

    Dirk Ehnts

About the author

Dirk Ehnts works in Berlin as an economist. After his studies at the Universities of Göttingen and Valencia, he received his PhD on a topic of New Economic Geography at the University of Oldenburg, Germany.

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