01:28:47

EssentialMike Green in Conversation

"Monopoly" Is Not Just a Board Game

Featuring Warren Mosler and Michael Green

Mar 11, 2022 • 88 minutes

Essential

Mike Green in Conversation

"Monopoly" Is Not Just a Board Game

The state has all the power it needs to influence prices of every kind, including energy commodities.

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Featuring Warren Mosler and Michael Green

Mar 11, 2022 • 88 minutes

Inflation has been the defining theme of both the domestic and the global economy since mid-2021. War in Eastern Europe has overshadowed it. At the same time, the Russia-Ukraine conflict will only exacerbate upward pressure on producer and consumer prices. So the story goes. In part two of his conversation with Mike Green, chief strategist at Simplify Asset Management, Warren Mosler, perhaps the first articulator of Modern Monetary Theory, offers an alternative explanation for what drives and is driving inflation. Mosler notes that the Consumer Price Index is a politically constructed measure and that sustained inflation is primarily a function of government exercising its fiscal and monetary power. Efforts by the Federal Reserve to combat it therefore amount to an intramural struggle, distorting the market and boosting volatility. Amid geopolitically driven commodity-price spikes, Mosler also addresses the monopoly-like pricing power of oil producers. That power is light, however, compared to the state’s currency monopoly. So, the question becomes, how high will the state allow energy prices to soar before we hit a hard stop? Read Mosler’s “Framework for the Analysis of the Price Level and Inflation” here: https://rvtv.io/363Qjwm. To explore more of his work visit www.moslereconomics.com. Recorded on March 9, 2022.

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A Real Vision original, Mike Green engages in exciting conversations about the big macro topics that matter. Exploring personal passions -- including the US-China relationship that defines modern geopolitics as well as market structure and the question of how short-volume strategies and passive indexation have warped the way markets function -- Mike creates immeasurable value for investors. Never stuck on any one or two themes, he also explores breaking issues sure to shape our understanding of ever-changing financial markets.

More Episodes

A Real Vision original, Mike Green engages in exciting conversations about the big macro topics that matter. Exploring personal passions -- including the US-China relationship that defines modern geopolitics as well as market structure and the question of how short-volume strategies and passive indexation have warped the way markets function -- Mike creates immeasurable value for investors. Never stuck on any one or two themes, he also explores breaking issues sure to shape our understanding of ever-changing financial markets.

More Episodes

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