Welcome to MMT works

Recent Posts on Modern Money Theory

MMT full employment
21 November 2022 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

What does the National Debt Look Like
16 November 2022 by mmt.works
Politicians have been quick to describe the "National Debt" as a gaping "black hole" that requires significant "funding" and "tax rises" to pay for public services. It is all nonsense. Firstly, the "National Debt" is not a debt, it is

Diagram: Austerity
14 November 2022 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

Diagram MMT sink spending taxation
12 November 2022 by mmt.works
Spend, invest and tax Government spending and taxation works like your kitchen sink. Government spending fills our pockets with money!(Randall, see references below) Government spending in excess of taxes increases our savings. Governments collect taxes. When you make a tax

One Pound Coins
16 October 2022 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

Trickle down economics explained
25 September 2022 by mmt.works
A number of commentators are suggesting that Liz Truss and Kwasi Kwarteng's budget (the biggest tax cut since 1972) have embarked on a form of Modern Money Theory (MMT). I'm not going to provide references as they are easy to

Posts from Richard Murphy at Tax Research UK

Posts from Bill Mitchell – Modern Monetary Theory

  • Kyoto Report No 8
    on 29 November 2022 by bill

    This Tuesday report will provide some insights into life in Kyoto for a westerner in the age of Covid. I know I said last week’s Report would be the last but I have a couple of more observations in the…

  • IMF continue to demonstrate their neoliberal biases
    on 28 November 2022 by bill

    The IMF published a new blog the other day (November 21, 2022) – How Fiscal Restraint Can Help Fight Inflation – which demonstrates that the organisation is still stuck in a New Keynesian world and despite all the empirical dissonance…

  • The Weekend Quiz – November 26-27, 2022 – answers and discussion
    on 26 November 2022 by bill

    Here are the answers with discussion for this Weekend’s Quiz. The information provided should help you work out why you missed a question or three! If you haven’t already done the Quiz from yesterday then have a go at it…

  • The Weekend Quiz – November 26-27, 2022
    on 25 November 2022 by bill

    Welcome to The Weekend Quiz. The quiz tests whether you have been paying attention or not to the blog posts that I post. See how you go with the following questions. Your results are only known to you and no…

  • The RBA governor jumps the shark
    on 24 November 2022 by bill

    Today we consider how asinine Australian’s monetary policy makers are now sounding. Yesterday, I reported the massive income redistribution that is going on at present as a consequence of central banks now hiking interest rates. This not only favours those…

Gower Initiative Tweets

"Surely it must be time to drop the “free NHS for all” mantra, as it is now totally unsustainable. It is also totally untrue – the NHS is paid for by taxation. It is time to introduce some form of additional insurance policy for additional service."
Let's debunk the myths...../

Yes, raising interest rates shifts income from net borrowers (most of us) to creditors - an increase in basic income paid to people who already have money, for having money, in direct proportion to the amount of money they have. The most regressive basic income scheme imaginable.

Load More

Other Modern Money Theory Proponents

Other MMT Discussion

Skip to content