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 #14 Responses
L. Randall Wray December 21, 2023 * New Economic Perspectives MMT Primer
Comments and responses on the Modern Money Primer Part 14.
MMP Blog #13: Commodity Money Coins? Metalism vs. Nominalism, Part 2
L. Randall Wray December 21, 2023 * New Economic Perspectives MMT Primer
This week, we examine coinage from Roman times to the present in Western society.
MMP Blog #10 Responses
L. Randall Wray December 20, 2023 * New Economic Perspectives MMT Primer
Comments and responses on the Modern Money Primer Part 10.
Macroeconomic System for Climate Change
J.D. ALT January 10, 2021 Economic Justice Environmental and Ecological Justice
Enables a sovereign government to spend whatever fiat currency is necessary to enable and assist its collective society to mitigate and adapt to climate change.
Let’s Get Down to Business and Understand Some Practical Economics
Steven D. Grumbine September 17, 2016 Economic Justice Policy Advocacy
It’s time for you to stop allowing yourself to get sidetracked with old thinking.
Keeping Score
Stephanie Kelton October 27, 2020 Economic Justice Twitter Thread
I promise to stop when the battle is won. Until then, here’s another attempt to improve understanding and shift our broken thinking about government “deficits.”
Is Bernie short $17 trillion on his healthcare plan?
Steven D. Grumbine August 12, 2016 Economic Justice Policy Essay
Bbbbbut Bernie is $17 trillion short on his healthcare plan… relax Francis…
Funding The Revolution: Trying to make econ fun to learn
Invoke 1881a Now Biden
David Soll August 13, 2021 Editorial Health and Well-being
“The fact we are still under a national public health emergency … should make everyone stand up and demand President Biden invoke Section 1881A immediately.”
If You Really Care About Social Security, Stop Capitulating To The Left
Stephanie Kelton July 17, 2021 Economic Justice Health and Well-being
Let’s start telling the truth about Social Security. We are educators. So let’s educate people on the basic facts.
How would Job Guarantee wages be set?
Bill Mitchell September 16, 2020 Economic Justice
It is Wednesday so some snippets and some music – sad music this week because it signals the death of one of the great pioneers …
How Banks Create Money When They Lend
Charlie Silva September 22, 2022 Economic Justice Education
It is up to academics and informed lay-people alike to alter the understanding of banking in the public consciousness.
Hands off Social Security and Medicare
Oliver Banks September 25, 2018 Economic Justice Health and Well-being
Sixty-one million people receive social security benefits, forty-four million people use Medicare, with seventy million people enrolled in Medicaid and CHIP.
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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