To add to the mix, some people call it Functional Finance! Whichever term is used we are talking about a system which looks at the interrelationships between different sectors of the economy. It integrates money creation into the system and considers government economic policy in relation to the world’s real resources: the planet and its people. An awareness of MMT as a lens for understanding the economy is growing around the world. As the Gower Initiative our purpose is to offer a UK portal for that understanding. But this website is not an economics ‘textbook’ written by and for academics. We hope that people with no previous knowledge – and no particular desire to study economics as a subject – will find our website an interesting place to find answers to questions that affect our everyday lives, as well as those who wish to study the subject in more depth.
To meet those objectives our website offers information from a beginner’s level through to books, videos and contact with academics around the world. We aim to develop those international links whilst broadening awareness that economics has higher priorities than balancing the books and that a government’s budget does not, in any way, resemble that of a household – a belief that has held sway in the UK for far too long.
You can read our brief introduction to Modern Monetary Theory here.