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
For this week’s MMT Lens, GIMMS is pleased to publish a guest article by Berlin-based economist Dirk Ehnts, author of “Modern Monetary Theory and European Macroeconomics“ The Office for …
Will rising interest rates in the future bankrupt the UK government? Read MoreBy Carlos García Hernández Article originally published in Spanish by RedMMT here Marx argues that any economic system based on private ownership of the means of production is doomed to …
The Paradox of the Two Knights Read More“The point is, not every deficit serves the broader public good. Deficits can be used for good or evil. They can enrich a small segment of the population, lifting the …
Time to abandon fictions of how our economy functions Read MorePhil Armstrong and Warren Mosler Published online November 2020 Full Article Abstract The hyperinflation in Weimar Germany in 1922-23 has become the poster child of mainstream economists – and especially …
Weimar Republic Hyperinflation through a Modern Monetary Theory Lens Read MoreWhat are Negative Interest Rates? The Bank Rate[1] is the rate of interest that the Bank of England pays commercial banks on any money (reserves) they hold with the Bank. …
Negative Interest Rates Read MoreWhat is Quantitative Easing? Quantitative Easing (or QE as it is more widely known) is a type of monetary policy, used by the Bank of England to purchase financial products, …
Quantitative Easing Read MoreThe old world is dying, and the new world struggles to be born; now is the time of monsters. Antonio Gramsci In the week that the Chancellor Rishi Sunak announced …
Time to worry less (or better not at all) about the national debt and challenge the government’s economic record instead. Read MoreThe government wants you to believe that the public purse is empty and needs replenishing to set the finances straight. It’s not and it doesn’t. Time to challenge the lie …
Is the public purse empty? Read MoreBefore it’s too late let’s not let the window of opportunity pass us by. The government is us, or it could be. As many of us sit in our living …
While a governmental blame game distracts the public, what democracy we had is being further hollowed out. Read MoreDoing so will come at a huge human and planetary cost. In this week’s news the train crash economics of neoliberalism continues to thunder on. The government, still ensconced in …
Let’s not let the debt doomsters rule the roost! Read More