As tax day approached, St. Francis College Economics Professors launched their first Economics Week with three days of guest speakers and student research. Randall Wray explains some basic principles of Modern Monetary Theory.

Modern Monetary Theory (MMT) is a school of monetary and macroeconomic thought that focuses on the analysis of the monetary and credit system, and in particular on the question of credit creation by the state.

The Bank of England s introduction to money in the modern economy is composed by a video and a paper which work hand in hand In them money is presented as a form of debt issued by someone and spent as credit by someone else Furthermore the three main types …