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
Taking a Bite Out of That Pie in the Sky
Steven D. Grumbine September 1, 2020 Economic Justice Editorial
People will not fight for what they do not believe is possible. People self-select themselves out of the picture and create self-fulfilling prophecies that allow defeat to overwhelm them to the point …
SVB: It’s a Wonderful Lie
Greg Roest May 14, 2023 Current Events Economic Justice
So, who is responsible for this fiasco? Or for the last one? Or the next? Any reasonable person can see that the present system is untenable.
Sound Money
Cory Doctorow September 14, 2022 Economic Justice
The inflation hawks have a point: inflation is genuinely destabilizing. But where the inflation hawks go wrong is in blaming “money printing” for inflation.
Social Security: Financial, Real and Political Constraints
Tracy Marvin June 4, 2023 * New Economic Perspectives
A great explainer video from students of Eric Tymoigne at Lewis & Clark College.
Social Security Cannot Go Broke!
Sam Levey March 23, 2017 Economic Justice Mixed Media
It is impossible for Social Security to go broke. All it takes to see that is a ride on the subway.
Shooting Down Deficit Hawks
J.D. ALT January 31, 2021 Economic Justice Education
Deficit hawks, like dive-bombing kamikazes, are out now again, circling the battleship of our collective efforts to save ourselves. What can we do?
Rethinking Fiat Money
J.D. ALT January 12, 2021 Economic Justice Real Progressives
This may sound like the plot for a Dickensian novel but, in fact, it is a precise description of what I think of as rethinking the reality of modern fiat money—a rethinking that enables collective society to achieve the full potential of its profit-making and not-profit making endeavors.
Resources NOT Dollars
Jabari Morris February 19, 2020 Economic Justice Mixed Media
Money has no power without labor, raw materials, ideas, and other resources.
Republicans Against MMT Need To Take a Seat
Rebecca Rice June 7, 2019 Economic Justice Policy Essay
A treatise, in answer to Katia Dmitrieva’s Bloomberg article on why the five Republicans against MMT need to take a seat, and why (AGAIN) we the People need to know how our economy really works.
Replacing the Budget Constraint with an Inflation Constraint
Scott Fullwiler May 27, 2023 * New Economic Perspectives
Let’s stop pretending that replacing a budget constraint with an inflation constraint is so hard.
Redesigning Money for a Donut World
Jay Chimo April 24, 2022 Economic Justice MMT Beginner
Government spending is nothing like a household. The government’s job is to keep the economy in balance.
Playing Monopolis Monopoly: An inquiry into why we are making ourselves so miserable
J.D. ALT May 27, 2023 * New Economic Perspectives
Why does it seem like there isn’t enough money to pay for the things we really need? Is it really true? Are we really too poor to put America back to work making and building the things we need to maintain a prosperous nation?
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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