This book explains why the “standard money theory” we insist on applying to the world is incapable of confronting the needs of modern society—most notably, the challenges of the global climate crisis. It then explores how a simple change in perspective transforms the standard theory into “modern money theory” (MMT)—a new perspective enabling us, as a collective society, to pay ourselves whatever it takes to proactively confront the challenges we face. The layman’s explanation of MMT is given twice: first, in an easy to follow narrative format and, second, using 26 new diagrams which bring the explanation to a visualized focus.
This is the story of how one man’s quest for a utopian architecture became his son’s quest for the love of a young woman haunted by an ecological disaster. It is a coming-of-age story, a love story, a treatise on the role of architecture in human affairs and, in the end, a dramatic confrontation with the forces of greed and corruption that undermine our prospects for a just and ecologically enlightened society. The theory of Enabling Structures, which the story dramatizes, has now become a central theme of my essays on macroeconomics and Modern Money Theory.
This ebook is a sequel to “An Architect’s Concerto,” exploring (and illustrating) the architectural concepts further —but now focusing squarely on the Modern Money Theory underpinnings that make the concepts actually feasible. Set in the year 2028, the love story of Maggie and Charlie is far, far in the background, while Charlie steps out as the narrator of the extraordinary story of what happened after Donald Trump was elected president of the U.S.
This book is currently out-of-print. The explanations of MMT have been revised and updated in my most recent book Paying Ourselves to Save the Planet–A Layman’s Explanation of Modern Money Theory. The video and slide show associated with The Millennials’ Money, however, are still useful–and are being used–as educating tools around the world, with some caveats. Here is the preface for a privately issued version in Switzerland:
This book is in progress. It is planned to be an exploration of the application of modern fiat money to the field of architecture and human settlements. Specifically, it will develop in detail the concept of Matrix Architecture.