Modern Money Theory: A Simple Guide to the Monetary System

This book explains how central banks, banks and governments create money. Written in an accessible style, this book provides an introduction to modern monetary theory without requiring any prior knowledge of economics. It covers the most important aspects of monetary theory, including inflation targeting, government spending, and international trade, as well as economic policy to achieve macroeconomic goals, such as price stability, full employment and sustainable use of resources. Accordingly, it offers a valuable asset for students of economics, central bankers, banking professionals, and academics alike.

Dirk Ehnts works in Berlin as an economist. After his studies at the Universities of Göttingen and Valencia, he received his PhD on a topic of New Economic Geography at the University of Oldenburg, Germany.