The Gower Initiative for Modern Money Studies
An independent, non-profit organisation – part of a growing international movement challenging the economic orthodoxy of the last five decades
On 28th April 2019, the Financial times published an article by Gavyn Davies ‘What you need to know about modern monetary theory’. Phil Armstrong, who is currently studying for a …
A simple MMT advocate’s response to the Gavyn Davies article ‘What you need to know about modern monetary theory’ Read MoreWarren Mosler and Phil Armstrong Published online 24th February 2019 Full Article Abstract With floating exchange rate policies, central banks target policy interest rates – prices – rather than any …
A Discussion of Central Bank Operations and Interest Rate Policy Read MoreWelcome to Alan Hutchison, our MMT Long Read author for this week. Alan begins his blog post with a riddle, and as he notes most people will answer without hesitation. …
Lovers of exemption from tax Read MoreSimon Winlow and Steve Hall Published online 2018 Full article Abstract This paper addresses three specific problems. First, it describes and explains the growing distance between the political …
What Price Justice? The Failures of the Left and the Political Economy of the Future Read MorePhil Armstrong Published online 26th December 2018 Full Article Abstract Orthodox or neo-classical economics failed to predict the global financial crisis (GFC) or even allow for the possibility of such …
Modern Monetary Theory and a Heterodox Alternative Paradigm Read More