Warren Mosler: biografia

(i) About Warren:


Mosler’s law… states, “there is no financial crisis so deep that a sufficiently large fiscal adjustment cannot deal with it.”

(ii) Warren Mosler: What I’d Do Differently:


C/D: You’ve said you can fix the economy in 90 days. Can you give us an example of how you’d do that?

WM: One is a full payroll-tax holiday, where the government stops taking the FICA tax1. Right now, the only thing wrong with this economy is that people don’t have money to spend. People can’t make their mortgage payments, so we’re in a financial crisis. People can’t buy anything—we don’t have enough money to buy our own products, so people get laid off. We’re grossly overtaxed because the policymakers and the government don’t understand the function of federal taxes.

C/D: Your plan is to “turn around the U.S. economy in 90 days by simply focusing on people and a bottom-up program versus banks and a trickle-down agenda.”

WM: It can be done. It won’t be easy, but it can be done.“

(iii) Warren Mosler, a Deficit Lover With a Following:


The government does not tax its citizens to pay for federal spending. It taxes them to ensure they use the dollar and to help to regulate demand. Since the government prints the dollar, it can never run out of money and it need never balance its budget, not even to prevent the crowding out of private investment when the economy is humming along.”

(iv) Warren Mosler Explained:


Academic work

Academically, he is known for his writings on Modern Monetary Theory, an economic theory that describes the way fiat money is created and used in modern economies. His unorthodox views have gained a substantial following among the Internet and academia.

In 2010 he published Seven Deadly Innocent Frauds of Economic Policy outlining errors that can be made in the development of policy and explains what he deems “true” as proper alternatives.

In recognition that his “leadership in the field of economics is notable” Mosler was awarded an honorary doctorate from Franklin University Switzerland in 2014, after the Mosler Economic Policy Center (a center founded by him and aimed at encouraging education and research in new concepts and methods of economic policy analysis) had promoted a lecture about functional finance at Franklin the year before.

In 2014 he became visiting professor at the University of Bergamo.

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