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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

  • Will Labour have the sense to go for wealth taxes?
    on 23 June 2024 by Richard Murphy

    As the Guardian has reported: The Labour party has been drawing up options for how it could raise money through extra wealth taxes to help rebuild Britain’s Read the full article...

  • State funding now please for the arts
    on 23 June 2024 by Richard Murphy

    This morning's short video has now been published. In it I argue that Labour has had a long history of funding the arts. Now we Read the full article...

  • Freeports are dangerous
    on 23 June 2024 by Richard Murphy

    I have, as usual, published a new video this morning in which I suggest that Rishi Sunak’s very limited legacy will include the creation of Read the full article...

  • The best of the day
    on 22 June 2024 by Richard Murphy

    The best of the day, in which for reasons I am not sure of, I was playing with with monochrome:  

  • Jeremy?
    on 22 June 2024 by Richard Murphy

    Ely has a newish work of art, which is at least twice life size, that I have rather ignored before today. What I can’t work Read the full article...

Posts from Bill Mitchell – Modern Monetary Theory

  • British Labour Party once again tripping over their nonsensical fiscal rules
    on 20 June 2024 by bill

    Regular readers will know that I am not enamoured with the British Labour Party leadership and its obsession with its so-called fiscal rule, which is really just a continuation of the rule that the Tory’s were supposedly running with. How can a self-styled progressive party (so-called) that is about to take over a nation that…

  • The delusional RBA has everyone convinced that they are the reason inflation is falling
    on 19 June 2024 by bill

    It’s Wednesday and as usual I present commentary on a range of topics that are of interest to me. They don’t have to be connected in any particular way. Today, RBA interest rate decisions, COVID and some great music. Yesterday, the Reserve Bank of Australia (RBA) held their target interest rate constant. In their media…

  • Progressive journalists in Britain so easily become willing mouthpieces for mainstream economic lies
    on 17 June 2024 by bill

    Imagine if you are a UK Guardian reader and wanting to assess the options for an almost certain victory by Labour in the upcoming general election. Your understanding of the challenges facing the next government will be conditioned by what you have been reading in that newspaper. Unfortunately, there have been a stream of articles…

  • Australian labour market – employment grows but overall still marking time
    on 13 June 2024 by bill

    Today (June 13, 2024), the Australian Bureau of Statistics released the latest – Labour Force, Australia – for May 2024, which provides some increased clarity given the last few months have generated data that has been mixed in signal. The data for May 2024 shows employment continuing to increase, unemployment falling, and the participation rate…

  • IMF holds a religious gathering in Tokyo – to keep the troops in line
    on 12 June 2024 by bill

    The IMF joint hosted a conference in Tokyo last week – Fiscal Policy and Sovereign Debt – and the continues its misinformation campaign on the ‘dangers’ of public debt. The conference claimed that it brought together ‘leading scholars and senior policymakers’ and upon examination of the agenda it was clear that there was very little…

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