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

Feb 16, 2021

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”.

Part 2 of this conversation: https://www.patreon.com/posts/47904999 

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


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