Macroeconomics William Mitchell Pdf New Repack -

Traditionally, macroeconomics textbooks start with a household-level microeconomic perspective and attempt to scale it up to the national level. Mitchell and his colleagues argue this is fundamentally flawed for a sovereign, currency-issuing nation. Their textbook represents a "Copernican Turn," reframing the government not as a household that must "find" money through taxes or borrowing, but as the monopoly issuer of the currency. Key Departures from Orthodox Theory

This wasn't the economics he’d been taught. In his lectures, the government was a household. It had to balance its checkbook. Taxes funded spending. Debt was a burden on grandchildren.