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
The Myth of Debt
Chris Cook June 4, 2023 * New Economic Perspectives
From the latest cuts to the economic forecasts to the Italian elections to the gathering debate about how George Osborne should play this year’s Budget, all discussions about the financial system now lead swiftly back to the world’s sovereign debt problem.
MMT, Models, Multidisciplinarity
Pavlina Tcherneva May 31, 2023 * New Economic Perspectives
The attacks on MMT are taking a comical turn. Don’t miss this rebuttal complete with an AMAZING list of reference links.
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.
Democrats Need to Give Up Being Deficit Hawks Even When it Feels Good Politically
William K. Black May 30, 2023 * New Economic Perspectives
A nation like the U.S. with a sovereign currency that borrows in that currency and allows that currency to “float” is nothing like a household when it comes to budget.
The Perfect Fiscal Storm: Causes, Consequences, Solutions
L. Randall Wray May 30, 2023 * New Economic Perspectives
Understanding how federal finance works makes for better predictions and sensible policy.
What Are Taxes For? The MMT Approach
L. Randall Wray May 29, 2023 * New Economic Perspectives
Sovereign government does not really need revenue in its own currency in order to spend.
Do We Need Taxes? The MMT Perspective
L. Randall Wray May 29, 2023 * New Economic Perspectives
It’s elementary, my dear Holmes. Taxes drive the currency.
MMT: Report From The Front (Part 3)
L. Randall Wray May 29, 2023 * New Economic Perspectives
The colorful commentary and spicy rebuttal of critics continues in part 3 of Randy Wray’s review of the 3rd annual MMT conference.
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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