Modern Monetary Theory - MMT
What is MMT and how could it completely change your perception of life in a nation with a sovereign fiat currency? Looking for MMT resources in other languages? Try our INTERNATIONAL MMT RESOURCES page.
"If we just keep printing money, we'll devalue the dollar!"
"Printing money will cause inflation!"
"OhEmGee the National Debt!!"
We've all heard loads of rumors...now it's time to get the truth!
Use the arrows or swipe through the slides to learn more.
It's not something to implement someday, it is exactly how our money works TODAY!!
The currency issuer is not constrained to balanced budgeting in the same way as a currency user.
No matter what politicians or talking heads on TV say, when a country issues its own sovereign currency, it can never run out.
That would be like the scorekeeper in baseball running out of points! Crazy, right?
As a matter of fact, in order for us to pay taxes in the first place, the government, the CURRENCY ISSUER, has to create (or spend into existence) the money. Then, we CURRENCY USERS have to find a way to get some money to pay our taxes.
Most governments, most of the time, will run fiscal deficits. This is not a matter of concern, and is indeed a good thing, as it means most private sectors will be able to run the financial surpluses they wish to add to their net savings.
The government’s deficit is our surplus – we should be glad all that money hasn’t been taxed out of the economy!
Browse our MMT focused articles and filter them using the tabs at the top to find a specific topic.
Browse our MMT focused articles and filter them using the dropdown tab at the top to find a specific topic.
- All Articles
- Federal Reserve
- Inflation
- MMT 101
- MMT Academics
- MMT Rebuttal
- National Debt
- Taxation
- All Articles
- Federal Reserve
- Inflation
- MMT 101
- MMT Academics
- MMT Rebuttal
- National Debt
- Taxation
Towards a Libertarian/Austrian Modern Money Theory
L. Randall Wray August 16, 2023 * New Economic Perspectives
Any time there is an MMT post, the comments are dominated by conspiracy theorists, haters of government, goldbugs, and victims of alien probings who are certain that MMT-ers are united in their effort to ramp up government until it consumes the entire economy.
Tax Bads, Not Goods
L. Randall Wray June 28, 2023 * New Economic Perspectives
Once we understand what taxes are “for”, we can start to think about what kinds of taxes make sense.
An Alternative Meme For Money, Part 7: Framing Deficits
L. Randall Wray June 21, 2023 * New Economic Perspectives
A government deficit will result if the nongovernment sector has a surplus—a perfectly sustainable balance.
An Alternative Meme for Money, Part 6: Alternative Framing on Inflation
L. Randall Wray June 5, 2023 * New Economic Perspectives
If there’s no inflation danger, there is no point in taxing the rich before keystroking the poor.
An Alternative Meme for Money, Part 5: A Spending Meme
L. Randall Wray June 5, 2023 * New Economic Perspectives
Wherever this flag’s flown, We take care of our own. 🎵 Progressives need a new meme for money. This series is addressed to them.
A Meme For Money, Part 4: The Alternative Tax Meme
L. Randall Wray June 5, 2023 * New Economic Perspectives
Let us continue to develop an alternative frame for money. As you know, MMT says that “taxes drive money”. Let’s develop that further.
Social Security: Financial, Real and Political Constraints
Tracy Marvin June 4, 2023 * New Economic Perspectives
A great explainer video from students of Eric Tymoigne at Lewis & Clark College.
Neoliberalism Kills (Part 2)
Joe Firestone June 4, 2023 * New Economic Perspectives
Its influence is felt even in liberal or progressive organizations, and among progressive commentators and writers, who all share ideas like fiscal policy discipline and tax reform.
Why we need to debunk the 'deficit myth' - BBC REEL
Government spending is increasing at an unprecedented rate to deal with the effects of the coronavirus pandemic. Many people worry this could burden future generations.
However, economist Stephanie Kelton, author of The Deficit Myth, argues that we need to rethink our attitudes towards government spending.
Could Modern Monetary Theory help us navigate our way out of this crisis – and even help build a fairer economy?
Producer: Dan John
Animation: Jacqueline Nixon
(Republished with permission from the BBC)
Weaponizing knowledge, one mind at a time.
Visit our seven focused Knowledge Areas.