Tag Archives: MMT

According to its main authors, MMT is not “ultimately” about money. Money is just a prerequisite for addressing the more important issue of mobilizing domestic resources for the full employment of the labour force and other public endeavours.... Good introductory article.Brave New WorldNdongo Samba Sylla – What does MMT have to Offer Developing Nations? Ndongo Samba Sylla | Research and Programme Manager for the Rosa Luxemburg Foundation

Abstract The power to coin money is a fundamental constitutional power and central element of fiscal policymaking, along with spending, taxing, and borrowing. However, it remains neglected in constitutional and administrative law, despite the fact that money creation has been central to the United States’ fiscal capacities and constraints since at least1973, when it abandoned convertibility of the dollar into gold. This neglect is particularly prevalent in the context of debt...

As part of my recent European speaking engagements, I went to Rome on February 5, 2020 to speak at the Italian Senate on Modern Monetary Theory (MMT) and the dysfunctional state of the European Union. The next day I had long discussions with one of my co-authors, Thomas Fazi, who I wrote – Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World (Pluto Books, September 2017) with. We have been working on the sequel to that book for some time, and, in the...

Last Saturday, I held an MMT Masterclass or Teach-In in London. It was an experimental session because I wanted to see what level of difficulty people would find useful as we work on developing the pedagogy and materials for MMTed, which is intending to provide free teaching resources for those interested to learning Modern Monetary Theory (MMT) from first principles. Given the time constraints, I didn’t quite finish Module 1. So I thought I would provide the slides here with a written...

Stephanie Kelton, among others.Project SyndicateWho's Afraid of Fiscal Policy?

Stony Brook University economist Stephanie Kelton is a proponent of something called modern monetary theory (MMT), a new school of economics that argues that as long as a country is in charge of issuing its own sovereign currency, it can't "run out of money." According to MMT, if Greece were still using its own currency, the drachma, instead of the euro, then it could have printed more money to pay off its debts, especially if inflation was low to begin with. Instead, as part of the...

Book review.American Affairs REVIEW ESSAY–The Reformation in Economics: A Deconstruction and Reconstruction of Economic Theory by Philip Pilkington Marc Morgan | research economist at the World Inequality Lab of the Paris School of Economics.

Quite a good piece that pushes the MMT view without naming it.Progressive Economy ForumThe Monetarist fantasy is overRobert Skidelsky | Crossbench peer and Emeritus Professor of Political Economy at Warwick University

Spoiler: MMT-informed fiscal policy. The WeekThe 1 economic experiment Shinzo Abe won't try Jeff Spross

Richard Murphy comments on Peter Bofinger's article, linked to here at MNE yesterday. Progressives and others on the so-called left need to read and understand this. The right won't pay any attention to it since it is Keynesian.Tax Research UKWhy the fantasy world of neoclassical economics is undermining our wellbeingRichard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge...