Book notes: A full-value ruble, by Kristy Ironside

Soviet experience shows MMT worked, only with far more challenges and downsides than promoters envisioned

A full-value ruble, by Kristy Ironside

Kristy Ironside, A full-value ruble: the promise of prosperity in the postwar Soviet Union, Harvard University Press, 2021, 320 pages

A full-value ruble describes efforts in the Soviet Union from the mid-1940s to the mid-1980s to provide the benefits of fiscally managed money without high inflation, endemic shortages or corrosion of labour effort. By fiscally managed, I mean that state spending, taxes and price controls drove aggregate money flows and inflation, with the Soviet central bank

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