Study of the Modern Economy. Vol 1

Most people would agree that recessions are terrible things, they cause widespread fear amongst people that will be anxious about their savings, their livelihood or even their next meal. On a nationwide level, economic downturns are events akin to natural disasters, they do massive damage and for the most part are widely accepted by society as an "inevitability", rather than a "rarity" ... But do we really need recessions? To boot, is there such thing as "good debt"? And how could something good cause so many issues? On top of this is there any way that we could just run an economy without debt and would we be better off for doing so. Well, it turns out we probably can, and in fact, there are many economies around the world today that are developing rapidly while going without this system that we just assume is a given. If we can critically explore these questions it will offer insight into how our modern financial system works, and why it means that despite our best efforts we are almost destined to go into a recession once every 10 years or so. Furthermore, Modern Monetary Theory is something so simple yet so complex all at the same time, it does really involve divorcing your mind from how you personally interact with money to ultimately grasp how cash works at an economy-wide level.