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Macroeconomics: A Modern Approach with William Mitchell

: If the government spends more than it taxes, that extra money remains in the hands of citizens, allowing them to save. The Conclusion macroeconomics william mitchell pdf new

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Unlike mainstream textbooks that rely on neoclassical microfoundations, this text adopts a heterodox approach, drawing from the theories of Keynes, Kalecki, Marx, and Minsky. It explicitly rejects the idea that a sovereign, currency-issuing government is constrained like a household, arguing instead that such governments have no inherent financial "budget constraint".  Macroeconomics: A Modern Approach with William Mitchell :