The Gower Initiative for Modern Money Studies launches in London today. We are looking forward to a full programme and are delighted to welcome our keynote speaker Professor William Mitchell, an Australian academic and author of the recently published ‘Reclaiming the State’, whose daily blog attracts a global following.
This exciting initiative, which has the support of leading MMT economists and forms part of a growing global network, shines a light on how money works in a modern economy and challenges the myths that form the basis of current public understanding.
Modern Monetary Theory (MMT) is not about how a future system would work, it is about how money works right now. With that knowledge in mind it offers a lens through which to see what is possible in public policy terms. It challenges the myth of ‘household budget’ economics and throws light on the consequences of the ‘free market’ ideology which has informed public policy for decades, takes no account of real resources and fails to recognise the harmful impact on citizens of successive governments’ public spending choices.
The Gower website will give people a vital opportunity to get to grips with the basics in an easy to read and factual way and show that economics has more to it than modelling and complicated equations. It will show how a government’s economic policies can affect people’s everyday lives for good and bad. It will also offer those who want to explore the subject in more depth the information and tools to do so. Website users will be able to get up-to-date comment on the latest political events whether domestic or international in scope, examined through the eyes of MMT, and the website will also give space for the work of guest contributors.
Via our miniblog we aim to show how an understanding of MMT changes the way the narrative around our economy and public finances is interpreted allowing the paradigm shift that is essential if we are to progress the public debate. Our future environment, prosperity and stability depend on it.
For all the latest and to learn more keep us bookmarked.
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