As people who know me understand, I read articles and listen to podcasts on a variety of topics ranging from technology, social science, society, economics, etc. Economics is one of my favourites, as it is very relatable to our day to day lives, besides involving mathematical modelling (which, for the same reasons as Deep Learning techniques of today, can only be close to a very good approximation but never accurate). While listening to BBC’s Business Daily podcasts, I stumbled upon this episode on Modern Monetary Theory. The title of the podcast - “Magic Money Tree” caught my attention and it turned out to be an interesting take on a proposal by one of the former Hedge Fund manager about central banks being able to print more money when needed. I did have this idea when I was a kid before I realized inflation and value of goods and how they are tied to abundance of ciculation of money, interest rates and consumer spending. I am not an economist but I am worried how this could lead to powerful economies manipulating their inflation thereby leading to disastrous consequences in parts of the world whose currencies are not global trade currencies.

For those interested in listening to the episode, you can do it here:

Are there wonderful teachers among expert economists who can help me understand?