Skip to content

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

  • Who We Are
    • Who we are
    • Objectives
    • Advisory Board
    • GIMMS Associates
    • Upcoming Events
    • Newsletters
    • Privacy Policy
    • Acknowledgements and Thanks
  • Basics
    • Introduction to MMT
    • MMT White Paper for the UK
    • FAQs
  • Job Guarantee
  • Fact Sheets
    • Origins of Modern Monetary Theory
    • A Brief History of Money
    • Sectoral Balances
    • Inflation
    • MMT and Public Policy
    • Macroeconomics
    • The Bank of England
    • Quantitative Easing
    • Gilts and Bonds
    • The Green New Deal
    • Universal Basic Income or a Job Guarantee?
    • Negative Interest Rates
  • Resources
    • Resources
    • MMT Course
    • Academic Papers
      • Working Papers
  • Blogs
    • MMT Lens
    • Reblog
    • MMT Long Read
  • Contact
  • Support Us
Main Menu

Tag: Austerity

Blogs / MMT Lens

Governments should be judged by the way they treat their elders not whether they balanced their accounts

25th January 201918th January 2019

‘How we treat our old people is a crucial test of our national quality. A nation that lacks gratitude to those who have honestly worked for her in the past …

Governments should be judged by the way they treat their elders not whether they balanced their accounts Read More
Blogs / MMT Lens

“Austerity is theft, the greatest transfer of wealth from poor to the rich since the enclosures.”

4th January 20194th January 2019

Fuad Alakbarov (Azerbaijani-Scottish human rights activist, political commentator and humanitarian.)   In the week before Christmas, the Secretary of State for housing claimed that the sky rocketing levels of homelessness …

“Austerity is theft, the greatest transfer of wealth from poor to the rich since the enclosures.” Read More
Blogs / MMT Lens

The Big Society and the NHS

9th December 201813th December 2018

In the news this week… The Daily Mail launches its campaign to create an army of NHS volunteers with the aim of freeing up more time for frontline staff to …

The Big Society and the NHS Read More
Blogs / MMT Lens

Education…education…education

2nd December 20182nd December 2018

And in the news this week…   Education…education…education.   Last week the Public Accounts Committee published its findings on the sale of the student loan book.  The government was criticised …

Education…education…education Read More
Blogs / MMT Lens

The UN report

23rd November 201824th November 2018

As reported in last week’s MMT Lens Philip Alston’s report on extreme poverty and human rights is truly shocking. Far from austerity being based on the need for financial prudence, …

The UN report Read More
Blogs / Reblog

Polanyi Against the Whirlwind

20th November 201822nd November 2018

The world is on the threshold of great change as the era of market liberalism starts to unravel, leaving it exposed to economic uncertainty and the rise of fascism in …

Polanyi Against the Whirlwind Read More
Blogs / MMT Lens

Life at the sharp end of austerity

16th November 201822nd November 2018

In the news this week….. “I’m scared to eat sometimes in case we run out of food.” “We had people coming to us who hadn’t eaten for several days,” “I …

Life at the sharp end of austerity Read More
Blogs / MMT Lens

A weekend of quiet reflection

9th November 201822nd November 2018

Today’s blog comes just before the weekend commemorating 100 years since the end of the First World War, the ‘war to end war’. When it started people thought it would …

A weekend of quiet reflection Read More
Blogs / MMT Lens

Put the Planet and the People First and the Fiscal Deficit Will Look After Itself

2nd November 201822nd November 2018

The Chancellor of the Exchequer, Philip Hammond, delivered his Autumn Budget on Monday. Hammond took an upbeat tone, congratulating the public for its hard work and sacrifice which were now …

Put the Planet and the People First and the Fiscal Deficit Will Look After Itself Read More
Blogs / MMT Lens

Budget Day 2018: The Gower Initiative Rules for a Successful Public Purpose Budget

29th October 201822nd November 2018

Seen through the MMT lens, the success of the Chancellor’s Budget would be measured against a set of criteria agreed through the democratic process in the interests of the nation’s …

Budget Day 2018: The Gower Initiative Rules for a Successful Public Purpose Budget Read More

Posts pagination

Previous 1 … 12 13 14 Next
Follow us
  • Facebook
  • Twitter
  • Instagram
  • YouTube
  • LinkedIn

Join our mailing list

If you would like GIMMS to let you know about news and events, please click to sign up here

Upcoming Events

Notice
There are no upcoming events.
Front cover of "Modern Monetary Theory - Key Insights, leading thinkers
Modern Monetary Theory: Key Insights, Leading Thinkers

Hardback ISBN:

978 1 80220 808 5

Ebook ISBN:

978 1 80220 809 2

More details via the Edward Elgar website.

Latest Blogs

Proposals for Reforms to the Debt Management Office’s Financing Remit

15th October 202515th October 2025

A Modern Monetary Theorist’s Response to ‘Weaknesses of MMT as a guide to development policy’, Aboobaker and Ugurlu (2023).

17th September 202519th September 2025

The Gower Intitiative for Modern Money Studies newsletter – January 2025

17th January 202522nd January 2025

PRESS RELEASES

View All

Inaugural UK Modern Monetary Theory Conference

25th January 20245th March 2024

Modern Monetary Theory: Key Insights, Leading Thinkers

21st January 202321st January 2023

Retweet on Twitter Gower Initiative for Modern Money Studies Retweeted
Patricia @patricianpino ·
2 Dec

A short🧵 on MMT & power: First and foremost MMT is a description & does not contain a prescribed pathway for working class liberation. That was not what MMT as a theory set out to do. However, even a description has political implications & here I set out a couple. >

Reply on Twitter 1995987359930753141 Retweet on Twitter 1995987359930753141 54 Like on Twitter 1995987359930753141 142 Twitter 1995987359930753141
Retweet on Twitter Gower Initiative for Modern Money Studies Retweeted
Steven Hail @stevenhailaus ·
2 Dec

This nonsense is a symptom of living within an essentially barter/full employment model, and having no understanding of monetary systems and balance sheet mechanics, let alone having a view of how people think which is in defiance of reality.

Reply on Twitter 1995759679197380769 Retweet on Twitter 1995759679197380769 15 Like on Twitter 1995759679197380769 62 Twitter 1995759679197380769
Retweet on Twitter Gower Initiative for Modern Money Studies Retweeted
Steven Hail @stevenhailaus ·
2 Dec

Oh, my God.

You are trying my patience beyond its limit

The institutional set-up in the UK clearly involves currency issuance

Read this, in the Journal of Economic Issues - The Self-Financing State: An Institutional Analysis of... the United Kingdom:

https://www.tandfonline.com/doi/pdf/10.1080/00213624.2025.2533726

Reply on Twitter 1995768766987468970 Retweet on Twitter 1995768766987468970 30 Like on Twitter 1995768766987468970 106 Twitter 1995768766987468970
Retweet on Twitter Gower Initiative for Modern Money Studies Retweeted
Warren B. Mosler @wbmosler ·
1 Dec

@WolfgangWa1642 @pontus_rendahl I 'invented'/developed what's popularized as MMT.
I'd never read Keynes (or any of the others). It all came from my capital markets experience.
Still does.
Keynes never recognized the source of the price level, or had the understanding that tax liabilities cause unemployment.

Reply on Twitter 1995445067171954977 Retweet on Twitter 1995445067171954977 26 Like on Twitter 1995445067171954977 108 Twitter 1995445067171954977
Retweet on Twitter Gower Initiative for Modern Money Studies Retweeted
Steven Hail @stevenhailaus ·
1 Dec

Incidentally, something similar happened a couple of years later, when I was preparing people for the Chartered Institute of Bankers qualifying exams. A banker said 'great course, but you know it doesn't work like that, don't you?'. Again, I later learned he (and MMT) was right.

Reply on Twitter 1995421924009357809 Retweet on Twitter 1995421924009357809 5 Like on Twitter 1995421924009357809 35 Twitter 1995421924009357809
Load More...

Creative Commons Attribution-ShareAlike 4.0 International License

 

 

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Copyright © 2025 The Gower Initiative for Modern Money Studies.
Powered by WordPress and HitMag.