Modern Money Theory (MMT) Works

Recent Posts on Modern Money Theory

MMT: Full employment and the Job Guarantee (JG)

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

MMT: No black hole, debt, funding or tax rises

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

MMT: The alternative to 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

MMT: Taxes do not fund spending

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

Modern Money Theory: Main points

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

The "Trussonomics is a form of MMT" myth

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

The Tories and Labour are united in seeking to promote boring politics
on 29 November 2022 by Richard Murphy
I took a week off from looking for things to write about here and during that time it seems that the strangest thing happened: politics Read the full article...
Ed Balls seems to think balancing the books is more important than tackling climate change
on 28 November 2022 by Richard Murphy
This tweet was put by Channel 4 yesterday: What does @EdBalls think about Labour’s ‘Green New Deal’ policy? ‘If it looks like climate change is Read the full article...
If we want a decent society ministers have to take their duties to regulate, to tax and to stamp out criminal abuse seriously. Ours treat all three as unnecessary.
on 28 November 2022 by Richard Murphy
There was an article in the Sunday Times yesterday on the creation of what are being called ‘burner companies’. The links are in this Tweet Read the full article...
What’s a better term for rentier?
on 26 November 2022 by Richard Murphy
I thought this thread fascinating and wondered if people here had any better suggestions to make since addressing what is technically described as rentierism is Read the full article...
Sometime the whole corrupt edifice of the two-party political hierarchy in Westminster is going to collapse
on 25 November 2022 by Richard Murphy
I posted this comment on Twitter this morning: How did we get to the point where there is no legal way for a refugee to Read the full article...

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…

More Bill Mitchell @ economicoutlook.net

Gower Initiative Tweets

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Independent, promoting an understanding of economics & the policy space afforded by our monetary system for social & environmental justice. #MMT #JobGuarantee

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Prue Plumridge @prueplum ·

28 Nov

"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...../

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MMT Podcast (Christian Reilly) @mmtpodcast ·

17h

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.