Money From Nothing

Or, Why We Should Stop Worrying About Debt and Learn to Love the Federal Reserve

By: Robert Hockett, Aaron James

Narrated by: Tristan Morris

A major work of financial theory and practice with immediate relevance to the rebuilding of the economy, and restoring the promise of equality

When the government decides to spend money, it simply creates the necessary funds for itself--as if out of thin air. That's how we pay for interstate highways, post offices, wars, social services, and economic stimulus packages. If it's that easy to make money...can't we all get more of it? Absolutely. And we should.

So argue financial regulation expert Robert Hockett and bestselling philosopher Aaron James in this eye-opening, irreverent, and inspiring exploration of what the dollar really is. And better still, they show how we can build an economy that works for everybody without unwanted taxes and added regulations.

In the process, we learn how disingenuous the political rhetoric surrounding inflation can be, how the demonized concept of the deficit is really just another way of tallying our collective national wealth, and how a strong central bank could free us from the abuses of private banking.

With broad historical background and ambitious yet practical institutional proposals, Hockett and James offer a new vision of public finance--people's banking for a people's economy. Armed with this new outlook, we can even stop worrying debt and learn to love a strong, accountable, and transparent Federal Reserve as a cornerstone of our democracy.

Absolutely worth knowing

Not everyone will agree with what is contained here but ignorance is dangerous. We have clearly been slowly evolving in the direction this book advocates and COVID forced the country to implement aspects of these recommendations. We will be debating this book for the foreseeable future, probably not fully understanding the opportunities and the risks. If you are interested in being informed, this is the place to start. A truly transformational book.

Deep thinking on the true meaning of money

Having just listened to Stephanie Kelton's "Deficit Myth". I was ready for a book like this and greatly enjoyed it.

At first, I wondered about this particular combination of authors: A financial guy paired up with a philosopher? Quickly, however, I realized the numerous benefits of getting both to probe the true meaning and mechanics of currency.

On the downside, I was puzzled by their choice of the narrator, whose delivery style did not seem particularly well-suited for a topic of this sort. But that's just my take on the performance. De gustibus non est disputandum.

In any event, if you're a fan of MMT and are looking for your next read, "Money From Nothing" will give you plenty to chew on.

Perspective

Growing up as hard core republican I have learned to hate debt and never live in it. I like the perspective but at times I felt like I was at a college party getting drunk trying to fix the worlds problems. But I did enjoy the non political bias for each side. We need to stop dividing our country and breaking families up because of political views.

Fantastic book. Unexpected Captain Kirk narration

Book is great. I ended up listening closer to 2.0x because Captain Kirk was nearly unbearable. Way over the top and one of the later chapters when he tried to change voices for quotes was especially horrible

"ICE CREAM!!!!!!!"

You'll know it when you get there.