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
- Hyperinflation
- Inflation
- Job Guarantee
- MMT 101
- MMT Academics
- MMT Rebuttal
- National Debt
- Social Security
- Taxation
- All Articles
- Federal Reserve
- Hyperinflation
- Inflation
- Job Guarantee
- MMT 101
- MMT Academics
- MMT Rebuttal
- National Debt
- Social Security
- Taxation
MMP Blog #46 Responses
L. Randall Wray December 28, 2023 * New Economic Perspectives MMT Primer
Comments and responses on the Modern Money Primer Part 46.
MMP Blog #45: The JG and Affordability Issues with Special Considerations for Developing Nations
L. Randall Wray December 28, 2023 * New Economic Perspectives MMT Primer
A sovereign nation operating with its own currency in a floating exchange rate regime can always financially afford an JG/ELR program. So long as there are workers who are ready and willing to work.
MMP Blog #45 Responses
L. Randall Wray December 28, 2023 * New Economic Perspectives MMT Primer
Comments and responses on the Modern Money Primer Part 45.
MMP Blog #44: The Job Guarantee and Macro Stability
L. Randall Wray December 28, 2023 * New Economic Perspectives MMT Primer
Our claim is that the economy with a Job Guarantee will be more stable than one without the Job Guarantee.
MMP Blog #44 Responses
L. Randall Wray December 28, 2023 * New Economic Perspectives MMT Primer
Comments and responses on the Modern Money Primer Part 44.
MMP Blog #43: Job Guarantee Basics: Design and Advantages
L. Randall Wray December 28, 2023 * New Economic Perspectives MMT Primer
A JG or ELR program is one in which government promises to make a job available to any qualifying individual who is ready and willing to work.
MMP Blog #43 Responses
L. Randall Wray December 28, 2023 * New Economic Perspectives MMT Primer
Comments and responses on the Modern Money Primer Part 43.
MMP Blog #42: Introduction to the Job Guarantee or Employer of Last Resort
L. Randall Wray December 27, 2023 * New Economic Perspectives MMT Primer
Some have called it slavery; others accuse supporters of fascism or communism. Some claim we want to destroy the safety net. Others say we want to destroy capitalism.
MMP Blog #42 Responses
L. Randall Wray December 27, 2023 * New Economic Perspectives MMT Primer
Comments and responses on the Modern Money Primer Part 42.
MMP Blog #41: MMT for Austrians Part 4: Is Description Without Theory, Ideology or Policy Desirable? Is it Even Possible?
L. Randall Wray December 27, 2023 * New Economic Perspectives MMT Primer
The answer to both questions posed in the title is, I think, a big fat no.
MMP Blog #41 Responses
L. Randall Wray December 27, 2023 * New Economic Perspectives MMT Primer
Comments and responses on the Modern Money Primer Part 41.
MMP Blog #40: MMT for Austrians 3: How Do YOU Propose We Deal with the Elderly, Disabled and their Debts?
L. Randall Wray December 27, 2023 * New Economic Perspectives MMT Primer
As Carney and others lay their proposals out on the table so that we can see what kind of government they want, the reaction by most people is sheer horror.
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)
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