The text is structured into several key sections to guide students through MMT:
This textbook is structured to support learning with several key features.
: A sovereign government that issues its own fiat currency (like the US, UK, or Australia) cannot run out of money. It is a currency issuer, unlike households or businesses, which are currency users.
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Instead of starting with abstract models, the text builds theory from the ground up, explaining how the economy actually operates.
By analyzing the actual institutional operations of central banks and treasuries, the book provides a functional roadmap for addressing 21st-century crises, including systemic unemployment, financial instability, and the funding of the green transition.
: Explains why governments are not financially constrained in the same way as households. The text is structured into several key sections
Each chapter explains key issues in depth, with advanced mathematical material relegated to chapter appendices to ensure flexibility in teaching.
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, this 604-page text serves as a pluralistic alternative to standard neoclassical textbooks. Bloomsbury Publishing Core Philosophy and Approach
: University lecturers can request digital inspection copies directly through the Macmillan instructor portal. Author Blogs and Supplementary Material
The Deficit of Time