MMT 101: A Reply to Critics Part 1
This is Part 1 of a six part series in which we deal with critics of MMT. As readers of this blog know, our critics continually raise the same old tired critiques of MMT.
This is Part 1 of a six part series in which we deal with critics of MMT. As readers of this blog know, our critics continually raise the same old tired critiques of MMT.
Modern fiat money, once it becomes a “visible reality” for more and more people, can’t help but become a force for positive change in our political discourse and collective future.
“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.”
We have a big problem with the way the media reports on the national debt. It’s unclear if they don’t understand how federal debt works, if they intentionally write about it in the scariest way possible, or some combination of the two. Let’s start with a passage recently published by NPR: “The pandemic is taking …
Taxation does not need to be the bitter salve taken with every spoonful of sugar—it is and always has been a way to provide for the general welfare.
The opening photo montage [on the Real Progressives home page] seems to be outlining an over-arching story about why American progressivism needs to make a special effort, now, to re-kindle the vision of Franklin Roosevelt. The activist, direct government spending of Roosevelt’s New Deal pulled America from the depths of the Great Depression, mobilized the …
Steven Hail explains the basics of Modern Monetary Theory using the Australian government as an example.
The purpose of this white paper is to publicly present the fundamentals of MMT.
It’s time to catch up to where we were 80 years ago and recognize reality. Bernie’s ideas aren’t just possible – they’re a brilliant move economically and a moral imperative.