# Modern monetary theory and its critics

3 October 2019

Introduction: Whither MMT?The editors |
2 |

Alternative paths to modern money theoryL. Randall Wray |
5 |

Initiating a parallel electronic currency in a eurocrisis country – why it would workTrond Andresen |
23 |

An MMT perspective on macroeconomic policy spacePhil Armstrong |
32 |

Monetary sovereignty is a spectrum: modern monetary theory and developing countriesBruno Bonizzi, Annina Kaltenbrunner and Jo Michell |
46 |

Are modern monetary theory’s lies “plausible lies”?David Colander |
62 |

What is modern about MMT? A concise notePaul Davidson |
72 |

Modern monetary theory: a European perspectiveDirk H. Ehnts and Maurice Höfgen |
75 |

MMT: the wrong answer to the wrong questionJan Kregel |
85 |

Modern monetary theory and post-Keynesian economicsMarc Lavoie |
97 |

Money’s relation to debt: some problems with MMT’s conception of moneyTony Lawson |
109 |

The sleights of hand of MMTAnne Mayhew |
129 |

Tax and modern monetary theoryRichard Murphy |
138 |

Macroeconomics vs. modern money theory: some unpleasant Keynesian arithmetic and monetary dynamicsThomas I. Palley |
148 |

MMT and TINALouis-Philippe Rochon |
156 |

Modern monetary theory: is there any added value?Malcolm Sawyer |
167 |

The significance of MMT in linking money, markets, sector balances and aggregate demandAlan Shipman |
180 |

The political economy of modern money theory, from Brecht to GaitskellJan Toporowski |
194 |

Board of Editors, past contributors, submissions, etc. | 203 |