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.

Democrats Need A Strategic View

Democrats have a fractured base and credibility problems. They need to do more than just refine their “message” and vote-gathering tactics. In addition to thinking about how they can win, they must think about why they deserve to win. They need an honest explanation of what they think America needs, how they intend to govern, and what they want to accomplish.

Soddy, Fuller and Modern Monetary Theory

By aligning our man-made economic thinking with physical reality, we can lay the path to ongoing human success. This is the promise of Modern Monetary Theory.

The Big Three

So long as progressive leaders are allowed to back-pedal on this topic—to try, somehow, to go forward based on the old economics of “commodity” money—little progress can ever be made to address the Big Three challenges that are growing more formidable every day.

A Comfortable Betrayal

The mainstream voices—the economists and journalists and political leaders—thrive on this question of how to divvy up the pot of “money” that America, by some inexplicable process, has been allocated to have. Staking out positions in this allocation argument is their career and sustenance. To take their argument away (by suggesting the pot of “money” is, in fact, expandable—as needed—by the direct sovereign spending of fiat-currency) threatens to leave them marginalized and irrelevant; even worse: possibly unemployed?

As the Debt Ceiling Approaches, a Fiscal Myth Echoes Across the Landscape of Politics

So, Congress is apparently going to both refuse to officially raise the debt limit, and also repeal the debt limit law, but instead will suspend the debt ceiling until next March, well after the 2018 Congressional elections, where a new Congress will decide whether one of the methods for permanently curing debt ceiling crises will be used to end additional episodes of debt ceiling brinksmanship after March 2019.

End the FEDish: Redirecting Our Anger and Efforts to Save the World

Modern Monetary Theory (MMT) represents a lens from which to view the various operational levers within the macroeconomy. It is simply the observable facts about how the monetary system works. Not "believing in" MMT is, in essence, denying reality.

Another Modest Proposal: The Future of Austerity Politics

The similarities of colonial Britain and the politics in American society today are brought to light by examining a centuries-old satirical essay, A Modest Proposal.