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
Government Debt and Deficits Are Not the Problem. Private Debt Is.
Michael Hudson May 31, 2023 * New Economic Perspectives
The “fiscally responsible” solution is probably not what you think it is.
Get Your Government Hands Off My Social Security!
David glotzer March 27, 2017 Economic Justice Policy Essay
It was back in 2009 that the Tea Party first appeared to spring alive from out of nowhere. We know now that it didn’t, but at …
Functional Fiscalism
J.D. ALT November 12, 2020 Economic Justice Environmental and Ecological Justice
What I am going to imagine here is an argument that a progressive politician (for example, someone associated with a new Biden administration) could make …
Framing the Progressive Platform
J.D. ALT April 13, 2018 Economic Justice Policy Essay
Progressives seem to genuinely wonder why mainstream Americans would object to these proposals. Why would American voters be put off by proposals they’d obviously gain so much real””and in many cases personal””benefit from?
Framing a Job Guarantee
J.D. ALT May 1, 2018 Economic Justice Policy Essay
Ms. McArdle is being disingenuous in planting the idea that everyone who is paid with federal dollars is a federal employee; it’s an idea that immediately discredits the JG program, and it should be proactively discredited itself.
Four “Tells” That Show Krugman Knows He Cannot Win an Honest Debate
William K. Black May 27, 2023 * New Economic Perspectives
Calvinball is a mythical game without rules. Academic debates shouldn’t be a game of Calvinball.
Four Purposes of Federal Taxes
Steven Hail February 14, 2021 Economic Justice Equality with Justice
Beardsley Ruml wrote in 1946 that taxes for revenue are obsolete. So what ARE they for?
Five (5) Things to read to Understand Modern Money (MMT)
Darren Quinn November 17, 2019 Economic Justice Published
These simple references are to allay any source of confusion, with what media commentators are calling Modern Monetary Theory compared to actual Modern Monetary Theory.
Federal Taxpayers Do Not Fund the Federal Government; The Federal Government Funds Federal Taxpayers
Ellis Winningham September 4, 2017 Economic Justice Published
Well that title is blunt, isn’t it? I like blunt. That’s why I chose it. As I always say, blunt cuts through bullshit. It’s my bet that it is sure to cause irritation for those persons who play immature games of semantics with the word ‘fund’. Good.
Federal Taxation: A Physician’s Prescription For Reform
Ed Siegel September 18, 2018 Economic Justice Policy Advocacy
This analysis of the pathophysiology of the taxation system informs the four taxation proposals presented here, which are crafted on the observed mechanics of the US monetary system as described in MMT.
Federal Job Guarantee: Necessary Pandemic Auto-Stabilizer
Steven D. Grumbine December 22, 2020 Economic Justice Equality with Justice
It allows us to prevent shocks to our economy that cause suffering for the 99%.
Fed Chairman Powell Wants Higher Unemployment to Stop Inflation
Tom Ramirez July 13, 2022 Current Events Economic Justice
Twitter Thread: Consumer Price Index is 9.1%. year over year. The Fed’s solution is to raise interest rates, killing the economy to bring down. A thread …
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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