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William F. Mitchell Biography

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“Nations do not exist in isolation. Peoples have always roamed the globe in search of different opportunities. Nations principally trade to expand their consumption possibilities. In a world where we produce to consume, receiving goods and services is better in material terms than sending them elsewhere.”

EconomicsTradeImportsMacroeconomicsExportsExternal Economy
Book:Modern Monetary Theory: Key Insights, Leading Thinkers
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“The multilateral institutions that were introduced in the Post World War II period to coordinate international aid – the IMF and the World Bank – have failed in their respective missions. They became agents for the ‘free market’ ideology and through their structural adjustment packages and related policies have made it harder for a nation to develop.”

EconomicsDeveloping CountriesMacroeconomicsImfWorld BankDeveloping Nations
Book:Modern Monetary Theory: Key Insights, Leading Thinkers
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“An MMT understanding allows us to appreciate that there would be no financial impediment for a government building national industries, funding research and development, providing first-class universities and apprenticeship training and the rest. If a nation with its own currency slides into oblivion by closing its manufacturing sector, cutting career public sector jobs and relying on low-paid and precarious service sector jobs for employment creation, then that has little to do with running external deficits, and everything to do with political choices.”

EconomicsManufacturingEmployment Macroeconomics
Book:Modern Monetary Theory: Key Insights, Leading Thinkers
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