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: fiat currency

Blogs / MMT Lens

Is the public purse empty?

6th September 2020

The 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 More
Blogs / Reblog

We pay for it by spending the money

22nd August 202026th November 2022

We would like to share an article by GIMMS associate Alan Hutchison.  This article was posted on his excellent website Matches in the Dark here. I use this as supporting …

We pay for it by spending the money Read More
Academic Paper / Blogs / MMT Long Read

Time For Informed Change. Post Covid-19 Economics

13th August 202013th August 2020

Philip Armstrong Nick Potts Solent University, Southampton, UK   Published online 13th August 2020   Full article   Abstract   In these extraordinary times it might just be that heterodox …

Time For Informed Change. Post Covid-19 Economics Read More
Blogs / Reblog

We need to talk about Tommy…the NHS: charity, taxes and MMT

28th June 2020

In this post, originally published on Medium, Michael Berks discusses NHS funding. I’m sure you’ve all seen the story of 100-year old Captain Tom Moore, who, by walking 100 laps …

We need to talk about Tommy…the NHS: charity, taxes and MMT Read More
Blogs / MMT Lens

To rephrase Mahatma Gandhi ‘The future will depend on what we do today.’

21st June 2020

Just a brief look at the news headlines in the last few weeks should be enough to set the alarm bells ringing. We are watching as the nation suffers a …

To rephrase Mahatma Gandhi ‘The future will depend on what we do today.’ Read More
Blogs / MMT Lens

The question is not how we will pay for the pandemic, but how government can use its currency-issuing capacity to deal with the most pressing issues of our time.

2nd May 20202nd May 2020

‘Care homes have been top priority for the government’ so said the health secretary in a COVID-19 briefing earlier this week. Daily the evidence grows that this is yet more …

The question is not how we will pay for the pandemic, but how government can use its currency-issuing capacity to deal with the most pressing issues of our time. Read More
Blogs / MMT Long Read

Norwood Hanson, Paul Krugman and MMT

29th March 202028th March 2020

Phil Armstrong, University of Southampton Solent and York College  2020    1. Norwood Hanson: Is the sun going around the Earth or the Earth going around the sun?   Norwood …

Norwood Hanson, Paul Krugman and MMT Read More
Blogs / MMT Lens

A Short Comment on the UK Government’s Fiscal Policy in the Current Crisis

21st March 202021st March 2020

By Phil Armstrong, University of Southampton Solent and York College. The UK government’s significant fiscal expansion – in line with its ‘do whatever is required’[1] mantra – is, of course, …

A Short Comment on the UK Government’s Fiscal Policy in the Current Crisis Read More

The Green New Deal

Why do we need a Green New Deal? The problem…   The planet is facing a growing ecological and social crisis which stems from the structure of capitalist economies built …

The Green New Deal Read More
Blogs / Reblog

#RethinkMoney – The Greatest Lie Ever Told (Probably)…#TaxAndSpend

15th December 2019

GIMMS is delighted to have permission from blogger Duncan Poundcake to reblog his article which was originally posted here   So what have we learned from the General Election of …

#RethinkMoney – The Greatest Lie Ever Told (Probably)…#TaxAndSpend Read More

Posts pagination

Previous 1 2 3 4 5 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.