Tag Archives: MMT

It is Wednesday, so just a (relatively) short blog post today. I am using the time today to further scope out the material and logic for my next book with Thomas Fazi, which we hope to publish sometime in 2019. I will provide more details on that project soon but it is intended to be the followup to our current book – Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World (Pluto Books, 2017). So, today, a bit of that sort of flavour. In 1977, the Young...

The Centre for European Reform, which must have little to do given the snail pace of so-called ‘reform’ that goes on in Europe, released a report over the weekend (June 23, 2018) – What’s the cost of Brexit so far? – which all the Europhile Remainers found filled their Tweet and other social media void for the day. I would of thought that they would have been happy, given England’s demolition of Panama in the soccer and 5-zip thrashing of Australia in the ODI cricket tournament. But no,...

Stephanie Kelton brings MMT to Great Britain.UCL Institute for Innovation and Public Purpose | Rethinking how public value is created, nurtured and evaluated | Director @MazzucatoMPublic budgeting for public purpose Josh Ryan-Collins

There is an interesting dilemma currently emerging in Australia, which provides an excellent case study on how governments can use fiscal policy effectively and the problems that are likely to arise in that application. At present, the Australian states are engaging in an infrastructure building boom with several large (mostly public sector) projects underway involving improvements to road, ports, water supply, railways, airports and more. I travel a lot and in each of the major cities you...

By J.D. ALT Like everything else, money has evolved. It began in a primitive form and morphed into something more sophisticated, more successful. Then, probing and testing for an even better form, it morphed again. A simplified history of money’s evolution can be outlined in five stages: STAGE 1: Money is a tangible thing of value—e.g. a gold coin. At some point in the pre-history of humankind, the “invention” of money solved a time-gap problem in cooperative trade: I’ll give you my...

More myth debunking.Ellis Winningham — MMT and Modern MacroeconomicsThe Bond Market Doesn’t Control Anything; the Currency-Issuing National Government DoesEllis Winningham

David Howdle posted a commenton this blog in which he said: Professor Murphy, thank you for your thoughts which I find most interesting. I share a lot of your blogs on pro Scottish independence Facebook group. I find that MMT resonates with many supporters. However, not with all by any means.In response to sharing this blog someone has said “Check his blog. Murphy is peddling a new-ish economic fad called Modern Monetary Theory. This controversial and untested approach is evangelised by...

We live in a dangerous time when the FT promotes a form of hardline, and deeply undemocratic monetarism. It's dangerous that some on the left have bought into Positive Money's ideas. The battle for money has begun. It is essential that it is won.  Tax Research UKThe battle for money has begun Richard Murphy

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[unable to retrieve full-text content]One of the highlights of the NY academic calendar is the Left Forum. On this panel I was joined by Stephanie Kelton, alongside Gar Alperovitz and Raul Carillo.