#123 Warren Mosler: Understanding The Price Level And Inflation

Patricia and Christian talk to MMT founder Warren Mosler about his recent paper on inflation, his proposals for overhauling banking, and simplifying the tax system.   Please help sustain this podcast! Patrons get early access to all episodes and patron-only episodes: https://www.patreon.com/MMTpodcast   For an intro to MMT: Listen to our first three episodes: https://www.patreon.com/posts/41742417   All our episodes in chronological order: https://www.patreon.com/posts/43111643   All our episodes with Warren Mosler: https://www.patreon.com/posts/42918786   A Framework for the Analysis of the Price Level and Inflation by Warren Mosler: https://docs.google.com/document/d/1sySbx6EHOAYpAjE4FGnYApdZNyY6rh79KzajZxSU884/edit   Warren Mosler's banking reform proposals: https://neweconomicperspectives.org/2010/02/warren-moslers-proposals-for-treasury.html   Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask: https://www.patreon.com/posts/41790887 Episode 30 - Steven Hail: Understanding Government Bonds (Part 1): https://www.patreon.com/posts/29621245 Episode 31 - Steven Hail: Understanding Government Bonds (Part 2): https://www.patreon.com/posts/29829500 Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1): https://www.patreon.com/posts/46352183 Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): https://www.patreon.com/posts/46865929  Episode 43 - Sam Levey: Understanding Endogenous Money: https://www.patreon.com/posts/35073683 Episode 65 - Phil Armstrong: Understanding Inflation: https://www.patreon.com/posts/40672678 Episode 88 - Warren Mosler & Phil Armstrong: Weimar Republic Hyperinflation Through An MMT Lens (part 1): https://www.patreon.com/posts/47638591 Episode 89 - Warren Mosler & Phil Armstrong: Weimar Republic Hyperinflation Through An MMT Lens (part 2): https://www.patreon.com/posts/episode-89-phil-47904999 Taxes For Revenue Are Obsolete by Beardsley Ruml: https://www.nakedcapitalism.com/2019/07/taxes-for-revenue-are-obsolete.html   For information on their forthcoming MMT book, sign up to the Gower Initiative For Modern Money Studies mailing list: https://gimms.org.uk/   A list of MMT-informed campaigns and organisations worldwide: https://www.patreon.com/posts/47900757   Transcript for opening monologue: https://www.patreon.com/posts/59826215   We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel: https://www.youtube.com/channel/UCEp_nGVTuMfBun2wiG-c0Ew/videos   Show notes: https://www.patreon.com/posts/59856379