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
The Fake Social Security Solvency Crisis is Congress’ Fault!
Joe Firestone May 30, 2023 * New Economic Perspectives
Predictions of doom are really based on provisions in law that Congress can change at any time.
The Explicable Mystery of the National Debt
J.D. ALT August 4, 2018 * New Economic Perspectives
The mystery is, while all this perpetual haggling and hand-wringing is happening, no one seems to be knocking on America’s door asking to be repaid.
The Emperor’s New Commodities
Jonathan Kadmon July 14, 2022 Economic Justice Health and Well-being
Frauds and hucksters have always relied on false dichotomies and thought-terminating cliches to misdirect the attention of their audience from more appealing alternatives.
The Changing Face of MMT
Loren Hall August 19, 2019 Economic Justice Policy Essay
Look under all the filters for the real picture.
The Capital Commons, Part 2
Real Progressives October 7, 2020 Economic Justice Policy Advocacy
How to best manage public capital.
The Capital Commons, Part 1
Real Progressives October 7, 2020 Economic Justice Policy Advocacy
Why we must separate public and private capital management
The Aerodynamics of Chartalism
J.D. ALT February 17, 2021 Economic Justice
Critics of MMT often say, “but it’s only ‘chartalism’”—as if chartalism, itself, were a discredited explanation of reality that inherently discredits Modern Money Theory.
That Thing You’re So Afraid of is Already Here
Loren Hall April 22, 2019 Economic Justice Policy Essay
…And it could save your life.
Taxes for Revenue are Obsolete
Real Progressives October 3, 2020 Economic Justice Reference Material
“All federal taxes must meet the test of public policy and practical effect. The public purpose which is served should never be obscured in a tax program under the mask of raising revenue.”
Taxes Don’t Fund Federal Spending
Steven D. Grumbine February 26, 2023 Democracy Economic Justice
Our federal government doesn’t need revenue. So why the chatter about how will the government get money to fund its operations?
Taxes Are Paid
Brad Sandler June 26, 2021 Economic Justice Equality with Justice
The federal government does not collect taxes to pay for anything. It collects taxes to fulfill its Constitutional obligation.
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.
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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