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Travelling all day today

I am travelling for most of today on my way to Spain to help launch the Spanish language edition of my current book – Eurozone Dystopia: Groupthink and Denial on a Grand Scale (see details below). I will also be meeting various people at a very interesting period for Spain, the build-up to the June national election that will attempt to resolve the impasse that arose from the election. I will report when I can on what is going on while I am away

This is what I am listening to today while I am travelling. One of my favourite artists.

The song Autumn Music 1 is by pianist and composer Max Richter from his 2006 album – Songs from Before.

It is his third album after his second effort in 2004 – The Blue Notebooks – established him as a major player in his field. That album became a classic in this field of post-minimalist, neo-classical ambience (that is a mouthful eh!).

The normal blog will resume on Tuesday, when I surface again in Granada, Spain.

Upcoming Spanish Speaking Tour and Book Presentations – May 5-13, 2016

Here are the details of my upcoming Spanish speaking tour which will coincide with the release of the Spanish translation of my my current book – Eurozone Dystopia: Groupthink and Denial on a Grand Scale (published in English May 2015).

You can purchase the Spanish version of the book – La Distopía del Euro – for 27.54 euros from Amazon.

You can save the flyer below to keep the details handy if you are interested. All events are open to the public who are encouraged to attend.


FINALLY – Introductory Modern Monetary Theory (MMT) Textbook

The KINDLE edition is now out – Details – or through the relevant Kindle store for your currency (you can search for the relevant link).

We have now published the first version of our MMT textbook – Modern Monetary Theory and Practice: an Introductory Text (March 10, 2016).

The long-awaited book is authored by myself, Randy Wray and Martin Watts.

It is available for purchase at:

1. (60 US dollars)

2. (£42.00)

3. Amazon Europe Portal (€58.85)

4. Create Space Portal (60 US dollars)

By way of explanation, this edition contains 15 Chapters and is designed as an introductory textbook for university-level macroeconomics students.

It is based on the principles of Modern Monetary Theory (MMT) and includes the following detailed chapters:

Chapter 1: Introduction
Chapter 2: How to Think and Do Macroeconomics
Chapter 3: A Brief Overview of the Economic History and the Rise of Capitalism
Chapter 4: The System of National Income and Product Accounts
Chapter 5: Sectoral Accounting and the Flow of Funds
Chapter 6: Introduction to Sovereign Currency: The Government and its Money
Chapter 7: The Real Expenditure Model
Chapter 8: Introduction to Aggregate Supply
Chapter 9: Labour Market Concepts and Measurement
Chapter 10: Money and Banking
Chapter 11: Unemployment and Inflation
Chapter 12: Full Employment Policy
Chapter 13: Introduction to Monetary and Fiscal Policy Operations
Chapter 14: Fiscal Policy in Sovereign nations
Chapter 15: Monetary Policy in Sovereign Nations

It is intended as an introductory course in macroeconomics and the narrative is accessible to students of all backgrounds. All mathematical and advanced material appears in separate Appendices.

A Kindle version will be available soon (stay tuned for the announcement).

Note 1: There is a typographical mistake in the book which although not repeated might throw your understanding. This has been corrected in a revised edition which is now being sold.

In editions sold before April 19, 2016, the following errors occur:

On Page 138, Equation 7.15a is written as

(7.15) Y = E = A + [c(1-t) – m]Y

and solving for Y is then stated to give

(7.16) Y[1 – c(1-t) – m] = A

however this should instead read Y[1 – c(1-t) + m] = A.

Thanks to Brian S. for picking this up.

Note 2: We are soon to finalise a sister edition, which will cover both the introductory and intermediate years of university-level macroeconomics (first and second years of study).

The sister edition will contain an additional 10 Chapters and include a lot more advanced material as well as the same material presented in this Introductory text.

We expect the expanded version to be available around June or July 2016.

So when considering whether you want to purchase this book you might want to consider how much knowledge you desire. The current book, released today, covers a very detailed introductory macroeconomics course based on MMT.

It will provide a very thorough grounding for anyone who desires a comprehensive introduction to the field of study.

The next expanded edition will introduce advanced topics and more detailed analysis of the topics already presented in the introductory book.

That is enough for today!

(c) Copyright 2016 William Mitchell. All Rights Reserved.

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    This Post Has 3 Comments
    1. Music is one area where you don’t mind a ‘neoclassical ambience!’ Didn’t know about Richter, sounds like a slightly more sophisticated Ludovico Einaudi- nice in its own way but having grown up listening to Stockhausen/Boulez/Xenakis et al, I got a bit more used to grittiness and dissonance.

      There is a sort of ethereal sadness about this music – good for long haul flights.

    2. Billy
      You need to use the latest catch phrase and start calling it ‘Disruptive economics’ – that might grab a few ears.

      Sounds like you will have another big audience in a place that appreciates and understands what we in Anglo-sphere totally miss. Have a safe trip

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