How the IMF sows the seeds of Global Neoliberalism

...And how it nearly killed universal healthcare in Thailand.

Steven Grumbine Interviews Steven Hail, Australian Economist

Steve welcomes Steven Hail to discuss the results of the IPPC report. The report findings are very discouraging, showing significant changes in the climate with warming at 2 degrees Celsius above pre-Industrial carbon levels. We are currently 1 degree Celsius above pre-industrial carbon levels.

Professor Bill Mitchell & the 'T' in Theory

Steven Grumbine interviews Professor Bill Mitchell about the “Theory” in Modern Monetary Theory, once again demonstrating that the two of them can make even complicated economic concepts accessible to the layperson. In this video, they take on several of the predominant criticisms of MMT.

Geoff Ginter Interviews Pavlina Tcherneva at the 2nd Annual MMT Conference

At the Second Modern Monetary Conference, Real Progressive’s Geoff Ginter has a brief chat with “Goddess of the Job Guarantee” Dr. Pavlina Tcherneva. Dr. Tcherneva describes her experience with and observations of a jobs guarantee program in Argentina. She talks about the impact of this program on various types of communities, the kinds of jobs created, who benefitted, and how one community shed its image as the ''Hidden City'.

The Winter of our Discontent in America

Should we have followed through and adopted policy that recognized in a nation such as the US, having a sovereign fiat currency allows government, the currency issuer, to create more obligations on itself to provide for the general welfare, instead of threatening to take them away or diminish them in some way.  After over 25 years of Winter it is time to jump start Spring by adopting policies that recognizes our economic potential. 

The 2nd Annual MMT Conference in NYC is Underway!

Join us at Real Progressives for live coverage of the event!

Federal Taxation: A Physician's Prescription For Reform

Accelerating disseminated economic inequality is a disease of the monetary system gripping the American economy. This paper examines the mechanism of that disease in terms familiar to the physician. First an examination of the normal physiology, how energy and information flow through the properly-functioning system, then the malfunctions in the system are studied, the pathophysiology illucidated and that directs treatment. The normal physiology of the US monetary system is thoroughly described in Modern Monetary Theory (MMT). When the problem is studied through the combined lenses of physiology and MMT, it becomes clear that the structure of the federal taxation system itself is most responsible for todays exploding growth in economic inequality. Following the discussion, four "prescriptions" are offered that would produce radical and fundamental changes in the way federal taxes are structured and imposed.      

An MMT Tutorial That Covers The Basics

This MMT tutorial provides short answers to several questions, such as: What is money? Where does it come from? Can the government go broke? What is the national debt? What are taxes for? Why not have a balanced budget? What happened to Greece and Zimbabwe? And, why should I learn MMT?

Monuments of Full Employment

Implementing a Federal Jobs Guarantee, along with a Green New Deal, and increased spending on our infrastructure, we can start to rebuild a middle class that has been languishing for

The “petrodollar” has no bearing on any country’s ability to fully employ its people.

"As far as what specifically would happen if the world stopped using the United States dollar for oil? The answer is, “Very little.””

MMT and The Deficit Debate

People often dismiss economic conversations assuming they understand the basics. The government collects taxes, spends that money and then some, causing deficits.  Then, the Government borrows money to cover the deficit...

The Explicable Mystery of the National Debt

America's current "national debt" is tallied to be $21.5 trillion. When politicians and economic pundits talk (worry, fret, wring their hands, gnash their teeth) about this "debt" they implicitly assume—along with their listeners, readers, and potential voters—that this fantastic sum will eventually have to be paid back. That's what happens with debts, right? Someone calls them due!

Stop Using The Term 'Printing Money'

It's just a way to give the establishment the tool it needs to stop progress.

MMT Cures Cult addiction

MMT will not make racism and xenophobia go away and there will still be a need to understand that Black Lives Matter.  But still, it will be as big of step in the right direction that the gains made in the 1960’s were. 

Each One Teach (at least) One

... my message was not getting through.  Telling people point blank that taxes do not fund spending always leads to a change in subject.  It always leads away from what is so very important about MMT. Which is that MMT describes how macroeconomics operates in the modern world. 

How the Elite Stole MMT

When we talk about MMT, we almost invariably hear at least one person who argues that their tax money does in fact fund federal spending, and that we're crazy for peddling this nonsense. The conversation then turns to the 2018 national defense budget. That's a good place for it to go.

The Five Stages of Money (and why we're stuck at stage 4)

Given the pressing needs America and the world now face, which profit-making enterprise has no interest in addressing, the time for Stage 5 money is at hand. We have it in our grasp. The question is: when we will see what it is and how to use it?

Hanging From a Cliff

An analogy explaining the folly of not understanding there is plenty of policy space federally

Last Exit to the Road Less Traveled

"We are no longer at a fork. The fork is half-a-century behind us. The goal is not to get the superhighway to somehow re-route itself and follow the path less traveled."

Why America is Not a Country Club

and why we should look to our board of directors to straighten it out.

Framing a Job Guarantee

Perhaps a point-by-point response to Ms. McArdle’s arguments is a way to begin.  

We Need Strategies for Integrating MMT Knowledge Into Progressive Politics

My purpose here is to spur the development and refinement of the conversation already going on about how to better disseminate knowledge and acceptance of MMT.

Flint, Michigan and Modern Money

While Flint’s problems surely run deeper than its lack of local tax revenue, it’s difficult to overstate what a substantial injection of capital could do for the city. The question: where does Flint “find” the money? Enter Modern Monetary Theory.

Marrying the Social and Economic Revolutions

One of the biggest divides I've seen on the Left is not knowing whether to focus on social issues or economic issues, or believing one is vastly more important and the other is irrelevant.

The Federal Reserve is Not a Private Bank – A Response to Counterpunch

Calling out the omission of facts from a recent Counterpunch article concerning the U.S. Federal Reserve. 

Framing the Progressive Platform

Progressives seem to genuinely wonder why mainstream Americans would object to these proposals. Why would American voters be put off by proposals they’d obviously gain so much real—and in many cases personal—benefit from?

Doing What the Market Can't

While the Market Economy system causes truly wondrous and useful things to be made available to American consumers, there are certain things it fails to provide.

Are You Ready to Consider that Capitalism is NOT the Real Problem?

Capitalism is many things, to many people. "The problem" is not one of them.