Supplemental Material on role of Money in Economy
Final Exam Questions:
When examining money creation, it is of vital importance to know: Who creates money, and Who benefits from it?
In light of these, explain why bitcoins would be unstable in value, and also create inequality and unfairness in wealth distribution around the world. Document your answers with empirical evidence.
This page provides links to supplementary materials on money and banking -- some of this material will be assigned as part of current course, to add to the MMT Textbook we are using. The main page on money, with links to large numbers of papers and videos, is Modern Money. A webpage which lists URDU materials -- papers and videos, on money is: Money & Monetary Economics (URDU) . For 8 + 3 + 3 video lectures on many different topics in Macroeconomics, Selected materials of immediate and direct relevance to this MMT course will be listed below.
Not of Direct Relevance -- but of common interest is BITCOINS:
My very short audio clip: Bitcoins - by Dr Asad Zaman. Addtional article: Bitcoins: Creating Instability and Unfairness. Students COULD write up, for popular press, an article on: Bitcoins -- creating inequity, injustice and instability in the financial system. It would be easy to prove. In addition, there is a strong link between energy cost and creating (mining) of bitcoins -- so use of bitcoins will direct add to carbon load on atmosphere, furthering environmental damage.
THE two papers which are of KEY IMPORTANCE for the MMT theory we are studying are:
1: The Battle for the Control of Money
2. An Islamic Version of the Iceland Plan
These are covered in the following Video-Lectures
Adv Micro: L24: The Battle for the Control of Money
Adv Micro: L25: Creation of Money and Islamic Banks