#88 Warren Mosler & Phil Armstrong: Weimar Republic Hyperinflation Through An MMT Lens (part 1)

Part 1: Patricia and Christian talk to MMT founder Warren Mosler and MMT scholar Dr Phil Armstrong about their recent paper: "Weimar Republic Hyperinflation through a Modern Monetary Theory Lens".   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 of our episodes with Warren Mosler: https://www.patreon.com/posts/42918786   All of our episodes with Phil Armstrong: https://www.patreon.com/posts/42072846   Some of our other episodes with Warren Mosler which deal with inflation, interest rates and central bank policy: Episode 59: What Do Central Banks Do?: https://www.patreon.com/posts/39070023 Episode 80: MMT Holiday Special (part 1): https://www.patreon.com/posts/45281376 Episode 81: MMT Holiday Special (part 2): https://www.patreon.com/posts/episode-81-mmt-2-45555840   Our episode 65 with Phil Armstrong on inflation (more on Paul Volcker's policy decisions as Fed chair in the intro): https://www.patreon.com/posts/40672678   Our episode 55 with Dr Dirk Ehnts on MMT in the context of the Eurozone: https://www.patreon.com/posts/38252014   Our episodes with Sam Levey that touch on the forward pricing channel: Episode 43: https://www.patreon.com/posts/35073683 Episode 76: https://www.patreon.com/posts/43697752 Episode 77: https://www.patreon.com/posts/43886189   Weimar Republic Hyperinflation through a Modern Monetary Theory Lens by Phil Armstrong and Warren Mosler: http://moslereconomics.com/wp-content/uploads/2020/11/Weimar-Republic-Hyperinflation-through-a-Modern-Monetary-Theory-Lens.pdf   A Discussion of Central Bank Operations and Interest Rate Policy by Warren Mosler and Phil Armstrong: https://gimms.org.uk/wp-content/uploads/2019/02/Central-Bank-Interest-Rate-Policy-Mosler-Armstrong.pdf   Monopoly Money: The State as a Price Setter by Pavlina R. Tcherneva: http://moslereconomics.com/wp-content/uploads/2018/04/Tcherneva_MonopolyMoney_2002.pdf   Bill Mitchell - Zimbabwe for hyperventilators 101: http://bilbo.economicoutlook.net/blog/?p=3773   Warren Mosler on Paul Volcker (from 13:25): https://youtu.be/6WSQ20I1Jv4?t=809   Tickets for "An Introduction To Modern Monetary Theory: Reconceptualising The Nature Of Banking" (presentation by Phil Armstrong) on 26th March 2021, organised by Women in Banking and Finance: https://www.wibf.org.uk/events/details/modern-monetary-theory   A list of other upcoming MMT events and courses: https://www.patreon.com/posts/47531455   Phil Armstrong's book, Can Heterodox Economics Make a Difference?: https://www.e-elgar.com/shop/gbp/can-heterodox-economics-make-a-difference-9781800370883.html   Warren Mosler's (free) e-book, Seven Deadly Innocent Frauds Of Economic Policy: http://moslereconomics.com/wp-content/powerpoints/7DIF.pdf   Transcript for opening monologue: https://www.patreon.com/posts/47638641   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/47638591