Modern Money Theory (MMT) Works

Recent Posts on Modern Money Theory

MMT: how to funds the NHS (and other public services)

22 March 2023 by mmt.works

The NHS crisis The NHS has worked well over the decades, supposedly the envy of the world. So what has changed over the last 70-odd years? Simply: funding. What you need to know: Modern Money Theory (MMT) recognises that taxes

MMT: Full employment and the Job Guarantee (JG)

17 March 2023 by mmt.works

What is the Job Guarantee? Modern Money Theory's (MMT) description of the economy leads to one of its core policies, that the government can guarantee full employment with decent pay (and benefits and annual leave). In other words: Under the

MMT: No black hole, no National debt

10 March 2023 by mmt.works

National Debt key points The National Debt is not a debt, it is not "owed" back The National Debt is money in the economy that has not yet been taxed back The National Debt represents our saving, the money in

MMT: The alternative to austerity

5 March 2023 by mmt.works

Austerity is deliberate and manufactured by government. Austerity also kills. But economists have been aware of alternatives to austerity for nearly 50 years, that focus on people, and not financial markets. “There IS An Alternative To European Austerity: Modern Money

MMT: Taxes do not fund spending

1 March 2023 by mmt.works

Spend, invest and tax "There is no such thing as public money; there is only taxpayers' money." -- Margaret Thatcher (Speech to Conservative Party Conference, 14 Oct 1983) Thatcher's statement is nonsense! Taxes can not fund government spending: Tax due:

Modern Money Theory: Main points

23 February 2023 by mmt.works

Modern Money Theory can be quite complicated, for which it is recommended that you refer to additional articles. But the main points of MMT are as follows: Modern Money Theory (MMT) is descriptive MMT describes how the economy works, Although

Posts from Richard Murphy at Tax Research UK

Tax havens are still a threat to our well-being
on 16 May 2024 by Richard Murphy
I posted this video to YouTube this morning. In it, I argue that Tax havens are still a massive threat to the well-being of the Read the full article...
Starmer’s plan is for a government offering platitudes, minor admin reforms and a few more teachers in England alone. Ambition has rarely been as small as this.
on 16 May 2024 by Richard Murphy
We finally know what Labour is going to do. These pledges are being launched today: The first is statement any government could make. The second Read the full article...
If you’re worried about the de-skilling of the NHS, please sign this
on 15 May 2024 by Richard Murphy
Amongst the many ways in which public services in the UK are being undermined is by deskilling them. I have already mentioned this in the Read the full article...
The sectoral balances show that the government has very little control over the national debt
on 15 May 2024 by Richard Murphy
I have posted a video this morning in which I argue that when the government discusses what it calls national debt, it forgets something really Read the full article...
Labour has predicated all its plans on economic growth, but there is none in the UK and it has said nothing about how it will change this
on 15 May 2024 by Richard Murphy
The OECD has issued a new report on the state of the global economy, as it sees it. It includes this chart: You will note Read the full article...

Posts from Bill Mitchell – Modern Monetary Theory

Australian labour market – mixed signals but probably still in a weakening phase
on 16 May 2024 by bill
Last month’s Labour Force data release for April 2024, revealed that the Australian labour market was starting to weaken in the face of the fiscal squeeze (the government announced a second successive annual fiscal surplus on Tuesday) and the 11 interest rate hikes since May 2022. Today (May 16, 2024), the Australian Bureau of Statistics…
Real wage cuts continue in Australia as profit share rises
on 15 May 2024 by bill
The Annual Fiscal Statement for Australia (aka ‘The Budget’) came out last night and ordinarily I would analyse it today. But I am travelling a lot today and also the wage data came out today, so I plan to leave the fiscal policy commentary until next week when I have more time to think about…
Degrowth will require humans shovel less energy … into our bodies
on 13 May 2024 by bill
I haven’t much time free today and with the federal government’s fiscal statement coming out tomorrow night and wage data and the labour force data coming out Wednesday and Thursday, respectively, it is going to be a full week. Given I am using all my time to finish the manuscript for my next book which…
The fiscal lunancy reaches peak levels this time of year
on 9 May 2024 by bill
In the last week, as the Federal government comes towards next Tuesday’s annual fiscal statement (aka ‘The Budget’ although we don’t use that terminology around here, do we?) and the State Government’s are progressively delivering their own Budget Statements (they being financially constrained) we have witnessed the absurdity of the system of public finances that…
COVID-19 myopia – it actually costs more to have no acute care protocols in place and more people die as a result
on 6 May 2024 by bill
I regularly scan research output from disciplines other than economics that I think impacts on economic matters. On April 17, 2024, a new study from medical researchers at the Burnett Institute in Melbourne, working with staff at the Department of Health and Human Services, in Victoria published a pre-print in The Lancet – Admission Screening…

More Bill Mitchell @ billmitchell.org

Other Modern Money Theory Proponents

Other MMT Discussion

MMT For the British People (Facebook group)
Modern Money Theory (MMT) Australia (Facebook group)
Modern Money Theory Dank Meme Stash (Facebook group)
Intro to MMT – Modern Monetary Theory (Facebook group)
MMT Podcast (Christian Reilly) (Twitter)
Activist #MMT, the podcast (Twitter)
Money on the Left (Twitter)