The debt ceiling debate is genuinely absurd: Congress authorized the spending of new dollars, so the Treasury has to create them. For Congress to turn around and force the Treasury not to create the dollars it ordered the Treasury to create is an obvious political gimmick. Hence the trillion dollar coin… Now … Continue reading The true, Terry Pratchett-esque origins of the trillion-dollar coin – Cory Doctorow
Instead of issuing new debt and running afoul of the debt ceiling, the Treasury secretary could simply fund the government by minting platinum coins. In 2013, even former US Mint Director Philip … Continue reading The guy behind “Mint the Coin” to end the debt ceiling: The trillion-dollar scheme, explained by its inventor – Vox
Until full employment is reached, governments need not cut back on public spending, says William Mitchell, co-founder of modern monetary theory We’ve just been through the worst pandemic in modern history so there are a few supply issues, but we are not experiencing inflation caused by Biden giving out some stimulus checks. … Continue reading Price rises should be short-lived – so let’s not resurrect inflation as a bogeyman | William Mitchell
The U.S. national debt is now bigger than its economy. That might sound scary, but we’ll explain how the United States can never go broke and can actually pay all of its … Continue reading Why The U.S. Can’t Go Broke – Stephanie Kelton
Re-thinking the conservative approach to government spending. Once conservatives understand how money works they can start to see the benefits of government fiscal spending as well! In fact, one wonders if many conservatives already understand how it all works when they didn’t appear to care about government deficits as of recent. There … Continue reading Modern Monetary Theory for Conservatives | The American Conservative
John Oliver finally does MMT! Source: The National Debt: Last Week Tonight with John Oliver (HBO) – YouTube Continue reading The National Debt: Last Week Tonight with John Oliver (HBO)
“We are never so certain of our knowledge as when we’re dead wrong.” —Guy Davenport in the essay “Pergolesi’s Dog from Every Force Evolves a Form” Well written article about money. Source: Politicians are never so sure as when they’re wrong | Lexington Herald Leader Continue reading Politicians are never so sure as when they’re wrong | Lexington Herald Leader
The economic ideas that once fueled deficit mythbusters and provided hope for a pandemic recovery have spawned a vibrant political subculture. Once people understand where money comes from then they’ll realize that we can start addressing things like climate change and student loans without causing any further hardship. Source: This Year’s Underground … Continue reading This Year’s Underground Sensation: Modern Monetary Theory | The New Republic
The one taboo of economics that the government is hiding from the public is the fact that if the government balances its books, it becomes impossible for the private sector to do … Continue reading David Graeber: what the government doesn’t want you to know about debt – video | Opinion | The Guardian
Our country’s myth about federal debt, explained. The idea that our country’s national debt creates a burden on future generations is a complete fabrication. Source: Opinion | M.M.T. Shows the Trillion-Dollar U.S. Deficits Are OK – The New York Times Continue reading Opinion | M.M.T. Shows the Trillion-Dollar U.S. Deficits Are OK – The New York Times
Don’t think of that number as “big” or “bold.” Just think of it as the appropriate dosage for a once-in-a-century economic affliction. We’ve done it before, we can do it again. Source: … Continue reading Preventing a Great Depression Will Cost $10 Trillion – The Atlantic
We’re finally, finally, doing an episode on MMT. Just in time for the deficit to triple. Source: Maybe Modern Monetary Theory is an answer to the COVID-19 economic crisis – Marketplace Continue reading Maybe Modern Monetary Theory is an answer to the COVID-19 economic crisis – Marketplace
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