I came across this video earlier today and thought it was worth sharing. It’s an audio extract from a longer talk given in Italy by Warren Mosler, who is one of the founders of Modern Monetary Theory (in the same way some bands are big in Japan, Mosler is big in Italy!). Mosler describes in one minute what a good economy should look like, and in light of George Osborne’s announcement today of his ‘commitment’ to full employment, it seemed apt. Does his description sound remotely like what we have today? I think not! The full video and transcript are here.