Mosler on “Where Does Money Come From?”

Very useful discussion in the comments.

Origin of Specious

I was recently at a dinner event with Warren Mosler, organised generously by Ralph Musgrave of the Ralphanomics blog.

The event included both MMTers and Sovereign Money proponents. It was a great event, and I think everyone got a lot out of it, even the Sovereign Money people.

Here is a photo of us, with Warren (somewhat ironically) holding up a Positive Money shirt. Notice smiling non-Brits on one side, unsmiling Brits on the other (hee hee hee):

Mosler.2 Left to right: Me, Warren, Ralph, Andy Blatchford, Mike Harley, William Richardson

One of the pleasures of the evening (for me at least) was hearing Warren making a careful, line-by-line criticism of the book Where Does Money Come From?, published by the New Economics foundation. I’ve heard little but praise for that book, which I believe to contain a number of misleading statements. So it was reassuring to hear Warren taking issue…

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