Abstract
In previous sections we have examined in some detail the three balances approach developed largely by Wynne Godley. In some sense all of that is preliminary to examining the nature of modern money. Further, a key distinguishing characteristic of MMT is its view on how government really spends. Beginning with this chapter we will develop our theory of sovereign currency.
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© 2012 L. Randall Wray
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Wray, L.R. (2012). Spending by Issuer of Domestic Currency. In: Modern Money Theory. Palgrave Macmillan, London. https://doi.org/10.1057/9781137265142_2
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DOI: https://doi.org/10.1057/9781137265142_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-230-36889-7
Online ISBN: 978-1-137-26514-2
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