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 Taxes can not fund government spending: Tax due: −$1,000 Tax paid: +$1,000 Balance (Tax available for government spending) $0.00 When you pay your income tax, your tax obligation is extinguished, and the money paid is deleted

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

The National Trust is not mincing its words on Sunak
on 21 September 2023 by Richard Murphy
I liked this Tweet from the National Trust: First the RSPB spoke out. Now the National Trust has. Middle Britain is not happy. Sunak really Read the full article...
The economic insanity of the Bank of England goes on
on 21 September 2023 by Richard Murphy
I shared this thread on Twitter a few minutes ago: There appears to be a collective sigh of relief around the economy because the Bank Read the full article...
The FT is not amused
on 21 September 2023 by Richard Murphy
These were the morning business headlines in the FT today: Even the most fervent Tory is going to have problems taking comfort from them.
Sunak heads for the the gutter as Packham takes the lead: a tale of two climate interventions
on 21 September 2023 by Richard Murphy
I watched two people talk about climate change on television yesterday. One was Rishi Sunak. The other was Chris Packham. One of them told the Read the full article...
Sunak talked total nonsense about climate change today, all of which is down to his seeking short term political gain by doing so contrary to everything he said
on 20 September 2023 by Richard Murphy
I tweeted throughout Sunak's speech this afternoon. This is what I had to say but you will have to read from the bottom up, I Read the full article...

Posts from Bill Mitchell – Modern Monetary Theory

It will end badly if we rely on the speculators and gamblers for a climate change solution
on 21 September 2023 by bill
I am now in a very hot and humid Kyoto having left Australia yesterday in weather that was in some places 20 or more degrees Celsius above the norm for early Spring. The heat here and back home at this time of year is rather scary given what it portends. I also do not have…
Off to Japan I go – again
on 20 September 2023 by bill
Today, I am heading to the airport for travel to Japan. For the next several months I will once again be working as a professor at Kyoto University as part of the research team concerned with integrating the macroeconomic principles in Modern Monetary Theory (MMT) principles into a broader framework to build national resilience in…
Claiming the European Union is close to full employment defies the meaning of language
on 18 September 2023 by bill
Last week (September 13, 2023) in Brussels, the President of the European Union delivered her annual – 2023 State of the Union Address. We all know that these events are spin-oriented and the leader of the 27-nation bloc is hardly going to come out and talk the arrangement down. But this was an election speech…
Australian labour market – stronger employment growth in August demonstrates how ineffective monetary policy is
on 14 September 2023 by bill
Today, the Australian Bureau of Statistics released the latest – Labour Force, Australia – for August 2023 today (September 14, 2023). Employment growth was strong in August and kept pace with the underlying population growth and the participation rise so that unemployment remained steady. The weaker result in July was probably mostly reflecting the rotation…
Capitalist wants government to drive up unemployment by 40-50 per cent and inflict more ‘pain in the economy’ on workers
on 13 September 2023 by bill
Two items this Wednesday before the music segment. First, we saw the stark ideology of the elites on full display in Sydney yesterday with a property developer demanding the government increase unemployment by 40-50 per cent to show the workers that the employer is boss and redistribute more national income back to profits. For anyone…

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)