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 "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:

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

Economists are neither thinkers or problem solvers. Most are just mathematicians, and not very good ones at that
on 4 May 2024 by Richard Murphy
I posted this video on YouTube this morning: This is the transcript: I've been reading a quite interesting book. This is it - The Trading Read the full article...
Just don’t ask an economist how the government funds itself
on 4 May 2024 by Richard Murphy
This Tweet, on which I commented yesterday, is doing the rounds right now in connection with Stephanie Kelton’s new book. The level of very basic Read the full article...
Kelton: the movie
on 4 May 2024 by Richard Murphy
This is the trailer for Stephanie Kelton’s new film. I wish I knew when we were getting it in the UK, but don’t as yet. Read the full article...
Labour is not as out of touch with reality as the Tories, but it has only a vague relationship with it
on 4 May 2024 by Richard Murphy
There is much to reflect on in the local election results so far, and although the mayoralties might still swing some opinions, if not much Read the full article...
A good night for Labour – but also the Greens
on 3 May 2024 by Richard Murphy
There is little point in providing any extensive commentary on what was happening in yesterday's elections as yet. There are far too many polls still Read the full article...

Posts from Bill Mitchell – Modern Monetary Theory

The green growth paradigm has a long tradition – which has never been supportable
on 2 May 2024 by bill
In October 1987, the United Nations published a report – Our Common Future – (aka Brundland Report) which was the work of the then World Commission on Environment and Development (WCED) – that was chaird by the then Norwegian Prime Minister Gro Harlem Brundtland. It laid out a multilateral approach to dealing with climate change…
The yen, podcast, and book announcement – all on International Workers’ Day
on 1 May 2024 by bill
It’s Wednesday and today I consider the current yen situation which is causing some hysteria in the financial media even though there is not much to worry about. I also provide access to my latest podcast with the Washington-based Bad Faith, which traverses issues of class, the demise of the Left, Modern Monetary Theory (MMT)…
Japan’s municipalities disappearing as population shrinks
on 29 April 2024 by bill
I have just finished reading a report from the Population Strategy Council (PSC) of Japan – 令和6年・地方自治体「持続可能性」分析レポート (2024 Local government “sustainability” analysis report) – that was released last week April 24, 2024). The study found that around 40 per cent of the towns (municipalities) in Japan will likely disappear because their populations are in rapid…
Australia’s inflation rate continues to fall yet some bank economists think further interest rate rises are possible
on 25 April 2024 by bill
Yesterday (April 24, 2024), the Australian Bureau of Statistics (ABS) released the latest – Consumer Price Index, Australia – for the March-quarter 2024. The data showed that the inflation rate continues to fall – down to 3.6 per cent from 4 per cent in line with global supply trends. There is nothing in this quarterly…
IMF now claiming that Japan has to inflict austerity when the government’s current policy settings a maintaining stability
on 24 April 2024 by bill
It was only a matter of time I suppose but the IMF is now focusing its nonsensical ‘growth friendly austerity’ mantra on Japan. In a recent interview, the former Portuguese Finance Minister now in charge of the IMF’s so-called ‘Fiscal Affairs Department’, Vitor Gaspar claimed that Japan is now in a precarious position and must…

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)