What is Modern Monetary Theory (MMT)?

 

The essential insight of Modern Monetary Theory is that sovereign, currency-issuing countries are only constrained by real limits. They are not constrained, and cannot be constrained, by purely financial limits because, as issuers of their respective fiat-currencies, they can never “run out of money.” This doesn’t mean that governments can spend without limit, or overspend without causing inflation, or that government should spend any sum unwisely. What it emphatically does mean is that no such sovereign government can be forced to tolerate mass unemployment because of the state of its finances – no matter what that state happens to be.

 

Virtually all economic commentary and punditry today, whether in America, Europe or most other places, is based on ideas about the monetary system which are not merely confused – they are starkly and comprehensively counter-factual.

 

 

MMT Summary in Plain Language

 

Modern Money Theory: The Basics

 

How Fiat Money Works

 

Understanding The Modern Monetary System

 

Talking Points for the 99% (Part 1)

Talking Points for the 99% (Part 2)

 

Debt, Deficits, and Modern Monetary Theory: an interview of Bill Mitchell by Winston Gee of the Harvard International Review

 

Modern Monetary Theory – An Introduction: Part 1

 

Modern Monetary Theory – An Introduction: Part 2

 

Modern Monetary Theory – An Introduction: Part 3

 

What Do You Want For America

Rudiments of MMT

 

MMT versus Mainstream Economics

 

Modern Monetary Theory (Wikipedia)

 

Monetarily, We Are Already In The Next System…

 

 

DIAGRAMS & DOLLARS: modern money illustrated (Part 1)

DIAGRAMS & DOLLARS: modern money illustrated (Part 2) -