MMTAction — Economics for People Economics for People — built on Modern Monetary Theory. Equip yourself with evidence-based arguments to defeat fiscal objections.

Politicians claim they can't afford climate action because of "the debt." Pure fiction. A currency issuer can't run out of money. The real constraint is resources and inflation. Episode 172: Steven Hail demolishes the excuses.

#MMT #Podcast

Fiscal Space (Real Resource Constraints) — MMTAction Fiscal space under MMT is the room a currency-issuing government has to increase spending before hitting real resource constraints that would cause problematic inflation.

Stop obsessing over deficits. The real question: do we have idle workers and unused factories? If yes, the government can spend more without inflation. If no, it can't. Money is never the constraint for a currency issuer.

#MMT #Economics

MMTAction — Economics for People Economics for People — built on Modern Monetary Theory. Equip yourself with evidence-based arguments to defeat fiscal objections.

The MMT Digest for 19 April 2026 is out. MMT101 Workshop 1: Origins and Nature of Money, and more.

Read it, listen to the podcast and subscribe to get it every Sunday: mmtaction.com/newsletter/

#MMT #ModernMonetaryTheory #Economics

Venezuela's Collapse Through a Modern Monetary Theory Lens

Venezuela's Collapse
A Graphic Novella
Hyperinflation for Dummies - Part 1
#MMT

mmtmichael.substack.com/p/venezuelas...

MMTAction — Economics for People Economics for People — built on Modern Monetary Theory. Equip yourself with evidence-based arguments to defeat fiscal objections.

Your opponents' best arguments are actually just rewording mainstream myths. That's why prep works: once you see the pattern, you can dismantle anything they throw at you.

#MMT #MediaLiteracy

Deficits aren't the problem. They're how a currency issuer funds the future. Want full employment? Green transition? Universal healthcare? Stop asking "how do we pay for it." The real question: do we have the real resources and labor? If yes, sovereign currency makes it possible.

#MMT
#Economics

Understood. The two are true at the same time though right? Private sector wealth is private sector wealth regardless of how it is consolidated. If you choose to take it further and apply class analysis that is up to you. Not saying I disagree, just saying as far as I'm saying!

Sectoral Balances Identity Explorer — (S-I) = (G-T) + (X-M) The sectoral balances identity (S-I) = (G-T) + (X-M) shows that the government deficit equals the private surplus plus the current account. Explore it interactively.

Government deficit = private sector surplus. This isn't opinion. It's accounting. Try the Sectoral Balances Explorer and watch the math destroy "balanced budget" mythology in real time.

#MMT #Economics #Interactive

MMTAction — Economics for People Economics for People — built on Modern Monetary Theory. Equip yourself with evidence-based arguments to defeat fiscal objections.

Everyone blamed Liz Truss for the pound collapse. Wrong villain. The real story: currency markets punish governments that forget they're currency issuers, not users. Episode 180 with John T. Harvey explains why.

#MMT #Podcast

Sectoral Balances — MMTAction An accounting identity stating that the sum of financial balances across government, private domestic, and foreign sectors must equal zero, demonstrating that one sector's deficit necessarily creates…

Government deficit = private sector savings. It's an accounting identity, not a moral failing. Stop treating budget math like household budgeting. The numbers literally have to balance this way.

#MMT #Economics

MMTAction — Economics for People The complete MMT resource: 215 episodes, 972 papers, 7,000+ articles, interactive models, and advocacy tools. Defeat fiscal objections with evidence.

MMT isn't a political programme. It describes how monetary systems actually work. Understanding money creation doesn't commit you to capitalism or socialism. But misunderstanding it guarantees bad policy analysis regardless of your politics. #MMT #Economics
mmtaction.com/learn/q/what...

MMTAction — Economics for People The complete MMT resource: 215 episodes, 972 papers, 7,000+ articles, interactive models, and advocacy tools. Defeat fiscal objections with evidence.

"Increase the amount of money and prices rise significantly." This is the quantity theory of money and the £895bn of QE just disproved it. Inflation happens when spending outstrips productive capacity. The constraint is real resources, not the money supply.
mmtaction.com/learn/q/does...

The letter notes the BoE created £895bn via QE yet growth "stagnated and flatlined." MMT agrees! QE is an asset swap (gilts for reserves), not government spending into the real economy. That's precisely why it didn't boost growth or cause inflation.
mmtaction.com/learn/q/what...

This letter in the Morning Star dismisses #MMT as "quack economics and magical disappearing tricks." But it accidentally proves several MMT points while getting the mechanism completely wrong.

MMTAction — Economics for People Economics for People — built on Modern Monetary Theory. Equip yourself with evidence-based arguments to defeat fiscal objections.

The MMT Digest for 06 April 2026 is out. Modern Monetary Theory and International Trade: Developments on the Base Case fo, and more.

Read it, listen to the podcast and subscribe to get it every Sunday: mmtaction.com/newsletter/

#MMT #ModernMonetaryTheory #Economics

MMTAction — Economics for People Economics for People — built on Modern Monetary Theory. Equip yourself with evidence-based arguments to defeat fiscal objections.

Every economic "fact" you see on social media is probably wrong. The government doesn't budget like your household. Deficits aren't debt. Taxes don't fund spending. Time to learn how money actually works.

#MMT #MediaLiteracy

MMT & Democracy in the Age of Neoliberalism: From Theory to Political Reality Eight suggestions to help Modern Monetary Theory (MMT) advocates get past neoliberal gatekeepers and make democracy work for us all

Democracy dies when we pretend governments are broke. MMT reveals the truth: currency sovereigns choose unemployment and austerity. We could have full employment tomorrow if we stopped believing neoliberal fairy tales about fiscal constraints.

#MMT #Economics

Housing — MMTAction How fiscal rules block social housing in the UK and US - and why the funding objection is a political choice, not an economic fact.

The UK has 11 million empty bedrooms and 300,000 homeless people. We know how to build houses. We have the workers and materials. The only thing stopping us is the myth that government "can't afford" to fix it.

#MMT #PublicPolicy

Build an Economy Simulator — MMTAction Run the Godley & Lavoie SIM model interactively. Watch how government spending, tax rates, and saving behaviour drive GDP and steady-state output.

Want to see why "balanced budgets" crash economies? This simulator lets you run fiscal policy in real time. Watch what happens when you try to be "fiscally responsible" like a household. Spoiler: mass unemployment.

#MMT #Economics #Interactive

We LOVE this!!

OK Scott! Let's agree to disagree. 😉

60% of Americans support the #JobGuarantee which is a core policy for #MMT

Americans (Still) Support a Federal Jobs Guarantee In poll after poll, Americans across the political spectrum support a federal jobs guarantee. And yet it’s never mentioned in mainstream political discourse. New survey data makes the case even harder to ignore.

In poll after poll, Americans across the political spectrum support a federal jobs guarantee. And yet it’s never mentioned in mainstream political discourse.

New survey data makes the case even harder to ignore.0

This is the definitive thread by a ex-Bond trader about the "oh so scary" Bond markets. The UK is a sovereign currency issuing government, it has "nothing to fear but fear itself"! #MMT

Patricia Pino on designing a UK Job Guarantee Join us for an online talk with Patricia Pino on designing a counter-inflationary Job Guarantee for the UK: political economy, constraints, and trade-offs

Still time to register for Patricia Pino's Job Guarantee talk, starting in 2 hours! #MMT #JobGuarantee

events.humanitix.com/patricia-pin...

MMTAction — Economics for People Economics for People — built on Modern Monetary Theory. Equip yourself with evidence-based arguments to defeat fiscal objections.

Worth revisiting: #99 Rohan Grey: On The Deficit Myth - Don't Think Of A Household

Lawyer and Modern Money Network President Rohan Grey answers questions posed by readers of Stephanie Kelton's The Deficit Myth at a book club event hosted by Ramona Massachi of Real Progressives.

#MMT

Anti-Austerity Economics | Auckland An afternoon workshop on anti-austerity, MMT as a guide to economic policy analysis, and promoting social justice and a transition to ecological sustainability.

Anti-Austerity Economics New Zealand #MMT Seminars April 2026

Saturday 18th April Auckland 1-5pm/Sunday 19th April Dunedin 2-6pm

If you are thinking of coming, we'd love to see you there - we being NZ economist Morgan Edwards, MML CEO Gabrielle Bond and I.

events.humanitix.com/anti-austeri...

Thanks Scott. Overall this is a good paper. It frames UBI & JG as complements not rivals. But it misses the JG's macroeconomic role. UBI provides a floor but not a price anchor. A JG buffers inflation through employment rather than unemployment. That's the bit that matters for macro stability. #MMT

Universal Basic Income / Negative Income Tax — MMTAction Policy proposals providing unconditional income transfers to citizens, which MMT analysis shows are fiscally feasible but potentially less effective than employment guarantee programs for addressing …

Understanding Universal Basic Income / Negative Income Tax

Universal Basic Income (UBI) provides unconditional cash payments to all citizens regardless of work status. MMT economists often prefer tar

Explore: mmtaction.com/learn/concepts/universal...

#MMT #E

MMTAction — Economics for People Economics for People — built on Modern Monetary Theory. Equip yourself with evidence-based arguments to defeat fiscal objections.

This week's MMT Digest is out. The job guarantee debate, and more.

Read it, listen to the podcast, and subscribe to get it every Sunday: mmtaction.com/newsletter/

#MMT #ModernMonetaryTheory #Economics