According to Michael Hudson, it means today almost the polar opposite of what it mean when Adam Smith used the phrase in The Wealth of Nations. In an interview during an episode of the podcast Guns and Butter, Michael Hudson spoke of a book he wrote titled J is for Junk Economics: A Guide to … Continue reading What Does “The Free Market” Mean?
The first published book describing how our modern economy works was published in 1993. The title is Soft Currency Economics: What Everyone Thinks That They Know About Monetary Policy is Wrong. The author is Warren Mosler. Who is Warren Mosler? Warren Mosler is identified as an Economist, when it seems that's true now in retrospect. … Continue reading Who Figured Out MMT? When? How?