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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

  • Inflation falling sharply in Australia while the RBA still is out there threatening rate rises
    on 29 November 2023 by bill

    Yesterday (November 29, 2023), the Australian Bureau of Statistics (ABS) released the latest – Monthly Consumer Price Index Indicator – for October 2023, which showed a sharp drop in inflation. This release resolves some of the uncertainty that arose when the September-quarter data came out last month, which showed a slight uptick. I analysed that…

  • Changes to RBA Act will further entrench the depoliticisation of economic policy and reduce democratic accountability
    on 29 November 2023 by bill

    Today, I consider the latest development in the entrenchment of neoliberalism in the Australian policy sector, specifically, the latest decision by the Treasurer to excise his powers under Section 11 of the Reserve Bank Act 1959, which allowed the Treasurer to overrule RBA policy decisions if they considered them not to be in the national…

  • UK Autumn Statement is appalling and ties the hands of Labour – the voters face a Hobson’s choice
    on 27 November 2023 by bill

    Last Wednesday (November 22, 2023), the Tory government in Britain released their fiscal update known as the – Autumn Statement 2023 – which basically sets the course of fiscal policy in the UK for the period ahead. The Tories continue their appalling record. But they have also locked Labor into an austerity mindset. Meanwhile, neither…

  • Letter from The Cape Podcast – Episode 19
    on 24 November 2023 by bill

    Episode 19 of my – Podcast – Letter from The Cape – is now available. Coming today from The Cape, Victoria, Australia. In this episode, I discuss the mess that privatisation and public-private partnerships have created. I note that these arrangements were all justified by the claim that the governments had run out of money…

  • The Smith Family manga continues – Episode 6 is now available
    on 24 November 2023 by bill

    Episode 6 in our new Manga series – The Smith Family and their Adventures with Money – is now available. Have a bit of fun with it and circulate it to those who you think will benefit … The Smith Family are a middle-class family living in a city somewhere in the world. The second-generation…

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