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The MMT Digest — 23 March 2026
- MMT and the job guarantee
- New glossary entry: the job guarantee
- The Iron Law of the Surplus Trap
#MMT #ModernMonetaryTheory
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Murphy misunderstands the Job Guarantee as either/or with broader fiscal policy when #MMT sees them as complementary. JG provides automatic stabilisation, expanding in recessions, contracting in booms, while other spending target mmtaction.com/s/5sr792/
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@richardjmurphy.bsky.social critiques the Job Guarantee, but fundamentally misunderstands its role in #MMT. He presents JG as either/or with other fiscal policy, when they're actually complementary tools working together. 🧵
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Ready to build a strategy that actually works?
Join us every Tuesday at Macro N Chill.
Visit RealProgressives.org get involved, & help build community beyond the ballot box.
•No more cosplay. No more kayfabe.
Let’s build #FiatSocialism #SolidarityEconomy #classanalysis #MMT
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NEW PODCAST EP! 🔥
If we can already afford full employment, housing, and public goods, why does capitalism still call the shots? Carlos García Hernández on whether MMT can pave a path to socialism, given the realities of class power & entrenched institutions.
#MMT #Capitalism
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@rbreich.bsky.social
From me: I'm no means expert in economy but I know basics - sector balances. There's three component so #MMT was perfect canditate to test SSMP in other are than physics. github.com/SauliKalkaja... 🧵
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Sauli & I mapped #MMT to a Symplectic Phase-Space Manifold. We prove systemic debt crises (like 2008) are geometric ejections forced by metric shear, not behavioral errors. 📄 Paper & Code: github.com/SauliKalkaja... 🧵
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A central theme of many of our sessions will be a modern understanding of money. A few sessions address #MMT (Modern Monetary Theory) directly, and we also offer drop-in, free MMT sessions. www.scoteconfest.org/ 19th to 21st March 2026.
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Is there a modern monetary theory #mmt book for kids?
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First, have a clear economic program. Second, get the majority behind it. Lenin understood. Carlos García Hernández elaborates through an MMT lens. Full ep. drops Sat. 3/28 @ 8am ET.
Find all our ep. @ realprogressives.org/macro-n-cheese/
#ClassWar #Lenin #MMT
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Neoliberalism and austerity will persist for as long as we cling to debt/deficit and the tax-payer-dollar myth. A pernicious lie. #MMT
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I can't even begin with the Economic Lies in this Post
1 Tariffs are not "Revenue" for a Sovereign Currency Gov't
2 It would take an Act of Congress to send Checks to Americans, there is no such thing as Tariff Revenue
3 A $29T Economy needs Deficits, they're the Oil in the Engine of America
#MMT
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I can't even begin with the Economic Lies in this Post
1 Tariffs are not "Revenue" for a Sovereign Currency Gov't
2 Tariffs do not Fund Gov't Spending, it would take an Act of Congress to send Checks to Americans
3 A $29T Economy needs Deficits, they're the Oil in the Engine
#MMT #PseudoEconomics
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Screenshot zweier LinkedIn-Beiträge. Im ersten, dem oberen, schreibt Gitta Peyn: „Es gibt wenig Beispiele in der Geschichte, die so eindrucksvoll zeigen, wie Freiheit und Wohlstand durch Nachdenken und Abhängigkeit und Leiden durch ideologische Modellbindung erzeugt werden. #Geldschöpfung #Steuern“. Sie zitiert damit Maximilian Runge-Segelhorst, der schreibt, zusätzlich hervorgehoben im farbigen Textbild: „Staaten mit eigener Währung sind Geldschöpfer. Und ein Geldschöpfer benötigt keine "Einnahmen", um Geld ausgeben zu können. Vor allem keine "Steuereinnahmen". Das gilt auch und gerade für Staaten mit Gemeinschaftswährung wie dem Euro. Ein staatlicher Geldschöpfer kann jederzeit Geld schöpfen und ausgeben, wenn er das möchte. Ob das aber angesichts der materiellen Grenzen unserer realen Welt immer sinnvoll ist, ist eine ganz andere Frage. Wer sich heute noch über die "Maximierung des Steueraufkommens" Gedanken macht, beschäftigt sich also mit einem schon längst gelösten Problem. Und das ist das Verrückte: Die vorherrschende neoklassische Lehrbuchökonomie steht für den Absolutismus der Effizienz. Nur halt nicht für die Effizienz der eigenen kognitiven Ressourcen aller Menschen, die im Rahmen der neoklassischen Mainstreamökonomik nachdenken; da wird mit Freuden reflexive Energie verschwendet.“
#Steuern #Geldschöpfung
#Kybernetik #MMT
Freiheit gibt es nur durch Nachdenken, Abhängigkeit durch ideologische Modellbindung. Der Kontrast ist selten so scharf wie in den Gespenstern neoklassischer Mainstreamökonomik.
Link zum Beitrag von Maximilian:
www.linkedin.com/posts/maximi...
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Notice The Pseudo Economists of Yale and Harvard are always leaving out the Part Called:
"Congress has to pass a Law for Any Amount of Money to buy anything in the Private Sector"
Learn MMT like your Life Depends upon it because it does. #MMT #NeoliberalAusterity #PseudoEconomics #Reichisms
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Taxes do not fund Gov't Spending!
Tax the Billionaires all you want
Until Congress enacts Laws for that Gov't Spending to Occur
Taxing the Billionaires accomplishes Little
Notice how they never Talk about the Laws that must Pass for Gov't Spending to Occur
Just "Tax the Billionaires"
#MMT #Reichisms
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They are always leaving out the Part Called
"Congress has to pass a Law for Any Amount of Money to buy anything in the Private Sector"
Learn MMT like your Life Depends upon it because it does. #MMT
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They are always leaving out the Part Called
"Congress has to pass a Law for Any Amount of Money to buy anything in the Private Sector" #MMT
Learn MMT like your Life Depends upon it because it does.
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Why?
Private sector EV's are not included in the War Budget
So The Pentagon cannot buy any of them
Please learn how Gov't Spending actually Works
Learn MMT like your Life Depends upon it because it Does
Kudo's to S Grumbine for even asking the Forbidden Q
How does Gov't Spending actually Work? #MMT
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All Tax Credits are the Same
How does a "Tax Credit" Pay for the Cost of Healthcare or EV?
Because it is not a "Tax Credit"
Ford & GM Execs and Shareholders directly get the $7500 from the Gov't
Tax Credits are Welfare for the Consumer and Subsidies for The Shareholders #PseudoEconomics #MMT
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So if Fancy Truck Paparazzi are getting $7500 to buy their Fancy Trucks, Why am I not getting a $7500 UBI to buy whatever Fucking thing I want to Buy?
Tax Credits are Welfare for the Consumer and Subsidies for the Fancy Truck Execs and The Shareholders.
#TaxCredits #MMT #PseudoEconomics
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So if Fancy Truck Paparazzi are getting $7500 to buy their Fancy Trucks, Why am I not getting a $7500 UBI to buy whatever Fucking thing I want to Buy?
Tax Credits are Welfare for the Consumer and Subsidies for the Fancy Truck Execs and The Shareholders.
#TaxCredits #MMT #PseudoEconomics
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There is a moment in every financial crisis when the invisible hand of the market seizes up, and the very visible hand of the state must take over.
mmtmichael.substack.com/p/the-visibl...
#MMT
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Russia like the US and UK is a Sovereign Currency Gov't,
It cannot "Borrow" Rubles from its Oligarchs to "Pay For" its War Effort in Ukraine, It cannot "run out" of Money
Do you really think FDR defeated the Nazi's with Tax money from an Economy coming out of Global Depression?
#MMT #ITrustPutin
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Russia like the U.S. is a Sovereign Currency Gov't,
It cannot "Borrow" Rubles from its Oligarchs to "Pay For" its War Effort in Ukraine, It literally creates them
Do you really think FDR defeated the Nazi's with Tax money from an Economy coming out of a Global Depression?
#MMT #ITrustPutin
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