Preview Mode Links will not work in preview mode

The MMT Podcast with Patricia Pino & Christian Reilly

Apr 17, 2023

Patricia & Christian talk to Richard Tye, contributor to the recently-published “MMT: Key Insights, Leading thinkers”, about his chapter: “Credit and The Exchequer since the Restoration”.

Please help sustain this podcast!

Patrons get early access to all episodes and patron-only episodes:


Order the Gower Initiative’s “Modern Monetary Theory - Key Insights, Leading Thinkers”:


Free tickets for the launch of “Modern Monetary Theory - Key Insights, Leading Thinkers”, in London on Thursday 20th April:


For an intro to MMT:

Our first three episodes:

Episode 126 - Dirk Ehnts: How Banks Create Money:


All our episodes in chronological order:


Richard Tye on Twitter:


Relevant to this episode:

“A History Lost – The English Tally” by Richard Tye:

Episode 84 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 1):

Episode 86 - Andrew Berkeley, Richard Tye & Neil Wilson: An Accounting Model Of The UK Exchequer (Part 2): 

In this episode, Richard advocates for the MMT Job Guarantee - for more on that, see our Job Guarantee episodes listed below.

Richard also advocates for the abolition of corporation tax. To find out more about why that isn’t the regressive policy it may sound like, listen to episode 110 - L. Randall Wray: Are We Living In An MMT World?:


Quick MMT reads:

Warren’s Mosler’s MMT white paper:

Steven Hail’s quick MMT explainer:

Quick explanation of government debt and deficit: “Some Numbers Are Big. Let Me Help You Get Over It”:

For a short, non-technical, free ebook explaining MMT, download Warren Mosler’s “7 Deadly Innocent Frauds Of Economic Policy” here:


Episodes on monetary operations:

Episode 20 - Warren Mosler: The MMT Money Story (part 1):

Episode 126 - Dirk Ehnts: How Banks Create Money:

Episode 13 - Steven Hail: Everything You Always Wanted To Know About Banking, But Were Afraid To Ask:

Episode 43 - Sam Levey: Understanding Endogenous Money:


Episodes on inflation:

Episode 7: Steven Hail: Inflation, Price Shocks and Other Misunderstandings:

Episode 65 - Phil Armstrong: Understanding Inflation:

Episode 104 - John T Harvey: Inflation, Stagflation & Healing The Nation:

Episode 123 - Warren Mosler: Understanding The Price Level And Inflation:

Episode 128 - L. Randall Wray & Yeva Nersisyan: What’s Causing Accelerating Inflation? Pandemic Or Policy Response?:


More on government bonds (and “vigilantes”):

Episode 30 - Steven Hail: Understanding Government Bonds (Part 1):

Episode 31 - Steven Hail: Understanding Government Bonds (Part 2):

Episode 143 - Paul Sheard: What Is Quantitative Easing?:

Episode 147 - Dirk Ehnts: Do Markets Control Our Politics?:

Episode 144 - Warren Mosler: The Natural Rate Of Interest Is Zero:

Episode 145 - John T Harvey: What Determines Currency Prices?:


More on Silicon Valley Bank and bank runs:

Episode 162 - Warren Mosler: Anatomy Of A Bank Run:

Episode 163 - L. Randall Wray: Breaking Banks - The Fed’s Magical Monetarist Thinking Strikes Again:

Episode 165 - Robert Hockett: Sparking An Industrial Renewal By Building Banks Better:

MMT founder Warren Mosler’s Proposals for the Treasury, the Federal Reserve, the FDIC, and the Banking System:


Our Job Guarantee episodes:

Episode 4 - Fadhel Kaboub: What is the Job Guarantee?:

Episode 47 - Pavlina Tcherneva: Building Resilience - The Case For A Job Guarantee:

Episode 148 - Pavlina Tcherneva: Why The Job Guarantee Is Core To Modern Monetary Theory:

Quick read: Pavlina Tcherneva’s Job Guarantee FAQ page:



MMT Events And Courses In 2023

More information about Professor Bill Mitchell’s MMTed project (free public online courses in MMT) here:

Apply for Dr Dirk Ehnts’ Modern Monetary Theory and European Macroeconomics course at Maastricht University (July 31st - August 4th) here:

Details of Modern Money Lab’s online graduate and postgraduate courses in MMT are here:

Details of the next MMT Summer school in Poznań, Poland (September 5th-7th) will be available on this page when confirmed:

Website of the 3rd International European MMT Conference (September 9th-10th:


MMT Academic Resources compiled by The Gower Initiative for Modern Money Studies:


MMT scholarship compiled by New Economic Perspectives:



A list of MMT-informed campaigns and organisations worldwide:


We are working towards full transcripts, but in the meantime, closed captions for all episodes are available on our YouTube channel:


Show notes: