The Modern Money Network (“MMN”) aims to bring accurate and accessible knowledge of monetary and financial systems to the broader public.

Our symposia bring together students, scholars, professionals and members of the public to discuss, debate and refine ideas about money. Our work combines insights from a range of fields, including law, political economy, finance, history, sociology, anthropology, technology and systems theory.

Our first two seminars, The Historical Evolution of Money and Debt and Governments Are Not Households, are a good introduction to the economic concepts our network promotes.



Conversations & debates between experts from a range of disciplines.

Topic Directory

Monetary & financial concepts explained, with annotated reading lists & other media.


Bibliography of works relevant to the Modern Money Network’s research interests.


Mission & Values

Why we exist, and what we care about.

Upcoming Events

Calendar of chapter meetings & symposia.


How the MMN is structured & governed.


Frequently Asked Questions



Help keep us going.

What is money?

How does money work?

We approach macroeconomic issues as legal realists, asking two critical questions: What is money? and How does money work? Our symposia and learning materials promote the insight that the US Government, along with other governments with fiat currencies and floating exchange rates, cannot “go broke.” That is, such governments face price stability constraints, but not solvency constraints per se. Thus there is no macroeconomic reason for current austerity measures.

Modern Money for Public Purpose

We are committed to the creation and improvement of monetary and financial institutions governed by the public and directed in support of public purpose. We believe in the universal, enforceable and inalienable right of every person to participate in economic life in a manner consistent with basic principles of justice, fairness, equality and dignity.

Who We Are

Student-run and student-conceived, the Modern Money Network welcomes all who are curious about how money works, and how our monetary and financial systems can be improved. Our network includes students, scholars, lawyers, artists, & technologists.


Regulation and Stability in Brazil: New Perspectives

Monday April 11, 12:15pm - Room 103, Jerome Greene Hall, Columbia Law School
Apr 11, 2016

This seminar will explore the legal, political, and architectural challenges of building institutions that promote capital development without spurring instability or crisis. Presentations will focus on the case study of Brazil. Questions to be addressed include:

  • What are the current macroprudential and regulatory challenges facing emerging market economies, particularly Brazil?

  • How do development and financial stability goals intersect, and what policies have been advanced in the Brazilian context to address these dual concerns?


Central Bank Machines

Instability, Independence, and Interest Rates
Dec 1, 2015

Paul McCulley, Warren Mosler, & Frank Newman discuss central banking in the post-2008 era.


Electoral Machines

Politics, Corruption, and Campaign Finance
Oct 29, 2015

This seminar explores the role of money in the political process, focusing on how different campaign finance mechanisms facilitate and/or hinder democracy.


Payments Machines

Digitalization, Disruption and Reform
Nov 16, 2015

Scott Fullwiler, Angela Walch, Will Ruddick & Brian King discuss payments systems.


Reimagining Money

Joining Legal and Economic Perspectives
Oct 26, 2015

This event will explore the nature and social function of money, and identify present and future opportunities for interdisciplinary legal-economic research on related topics. Questions to be addressed include:


How Does Monetary Policy Actually Work?

Oct 22, 2015

Bearish investors have long predicted that the Fed’s bond buying would spur inflation and devalue the dollar. But since the 2008 financial crisis, neither prediction has come true. What gives?

This seminar explores the nuts and bolts of monetary operations, and the extent to which how the Federal Reserve’s policies do (and do not) impact inflation, the economy, and the U.S. fiscal deficit. Questions to be addressed include:


Responding to the Unemployment Crisis in Greece

An 'Employment of Last Resort' Proposal for Greece
Nov 25, 2013

Rania Antonopoulos, Senior Scholar at the Levy Economics Institute, describes her proposal for an “Employer of Last Resort” program in Greece. Part of the MMx seminar “The Disparate Impact of Unemployment: Macroeconomic Policy as a Tool for Race, Gender, and Age Discrimination” hosted by the Modern Money Network.


Rethinking Economics NYC

A Three-Day, Student-Run Conference on Economic Pluralism
Sep 12, 2014

A three-day, student-driven conference on economic pluralism, organized in partnership with Rethinking Economics, and hosted by New York University Law School, the New School for Social Research, and Columbia Law School.


An Economic Bill of Rights for the 21st Century

A Conference Celebrating the 25th Anniversary of the Columbia University Seminar on Full Employment, Social Welfare & Equity
Oct 18, 2014

This conference will consider Franklin D. Roosevelt’s proposal for an Economic Bill of Rights, guaranteeing included employment at living wages, housing, medical care, education and old age security.


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