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Recent Posts on Modern Money Theory

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
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

Government Debt = Nation's wealth
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

Austerity kills
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

No taxpayers money
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:

One Pound Coins
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

Posts from Bill Mitchell – Modern Monetary Theory

  • The IMF has outlived its usefulness – by about 50 years
    on 15 April 2024 by bill

    The IMF and the World Bank are in Washington this week for their 6 monthly meetings and the IMF are already bullying policy makers around the world with their rhetoric that continues the scaremongering about inflation. The IMF boss has told central bankers to resist pressure to drop interest rates, even though it is clear…

  • Book review: Fiat Socialism by Carlos García Hernández
    on 11 April 2024 by bill

    When I was in London recently, I caught up with my good friend Carlos García Hernández, who is a Spanish radical and has a book publishing business – Lola Books – in Berlin, which publishes in English, German, Spanish and Italian. He gave me a copy of his own recently published book (2023) – Fiat…

  • Latest European Union rules provide no serious reform or increased capacity to meet the actual challenges ahead
    on 10 April 2024 by bill

    It’s Wednesday and we have discussion on a few topics today. The first relates to the new agreement between the European Parliament and the European Council that was announced on February 10, 2024, which purports to reform the fiscal rules structure that has crippled the Member States of the EMU since inception. The reality is…

  • From the archives – my early statements on the need for degrowth and the resistance they received from progressives
    on 8 April 2024 by bill

    As part of a another current project, which I will have more to say about soon, I was trawling through early Internet archives of the Post Keynesian Thought (PKT) listserv archives and was reminded that I began my degrowth journey many years ago. Going back in time and coming across things that one has written…

  • What is responsible government spending?
    on 4 April 2024 by bill

    Today, I am fully engaged in work commitments and so we have a guest blogger in the guise of Professor Scott Baum from Griffith University, who has been one of my regular research colleagues over a long period of time. He indicated that he would like to contribute occasionally and that provides some diversity of…

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