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: household budget analogy

Blogs / MMT Lens

The National Insurance increase shows that levelling up has been consigned to the Conservative bonfire of easy promises

12th September 202112th September 2021

A country ruled by criminals needs two revolutions, one small and one big: The small revolution is to overthrow the criminal government, the big revolution is to radically undo the …

The National Insurance increase shows that levelling up has been consigned to the Conservative bonfire of easy promises Read More
Blogs / MMT Lens

Fairy tales and the vocabulary of scarcity. Protecting the wealthy and hurting the rest

29th August 2021

“Last time, most of us fell for it. This time, it is critical that we do not. Because, in reality, the crisis we just experienced was waking from a dream, …

Fairy tales and the vocabulary of scarcity. Protecting the wealthy and hurting the rest Read More
Blogs / MMT Lens

Concentrate on real resources to solve real problems, instead of the financial cost.

22nd August 2021

“When people live in a fair, caring society, where everyone has equal access to social goods, they don’t have to spend their time worrying about how to cover their basic …

Concentrate on real resources to solve real problems, instead of the financial cost. Read More
Blogs / MMT Lens

The cost of Covid-19 is no reason to put off tackling inequality and climate change

8th August 20218th August 2021

“Emperor Nero, it’s said, fiddled while Rome burned. If you don’t want our politicians to continue to follow his example while the world burns, get politically active now.” Thom Hartmann …

The cost of Covid-19 is no reason to put off tackling inequality and climate change Read More
Blogs / MMT Lens

Johnson’s levelling up programme is looking more like a sham

18th July 202118th July 2021

A system is corrupt when it is strictly profit-driven, not driven to serve the best interests of its people. Suzy Kassem, Rise Up and Salute the Sun   Oh, the …

Johnson’s levelling up programme is looking more like a sham Read More
Blogs / MMT Lens

Politicians and the media coax the public to accept a new period of austerity

11th July 2021

“The political class in Westminster have failed us. They inoculate themselves against the pain that we suffer. We will not forgive them, and no, we will not be patient with …

Politicians and the media coax the public to accept a new period of austerity Read More
Blogs / MMT Lens

Reducing government spending now would be calamitous for the wellbeing of people

27th June 2021

“If every politician asks the ridiculous question ‘how will you pay for that’ when it comes to full employment, universal healthcare, infrastructure modernisation, tuition-free university and sustainable energy, but no …

Reducing government spending now would be calamitous for the wellbeing of people Read More
Blogs / MMT Lens

The G7 jolly – a symbol of everything that is wrong with the global economic system.

20th June 2021

“The kind of transformation that is now required [to address the climate crisis] will happen only if it is treated as a civilizational mission, in our country and in every …

The G7 jolly – a symbol of everything that is wrong with the global economic system. Read More
Blogs / MMT Lens

Inflation is not what we should be worried about right now

30th May 202130th May 2021

“The purpose of government is to ensure that everyone has what they need to live a good life. That means giving every child the very best start in life, caring …

Inflation is not what we should be worried about right now Read More
Blogs / MMT Lens

Poverty and homelessness are failures of government, not individuals

23rd May 202123rd May 2021

‘People who don’t understand the capacities of a currency-issuing govt telling us we have no choice but to accept deaths in the community for the sake of the economy. Tell …

Poverty and homelessness are failures of government, not individuals Read More

Posts pagination

Previous 1 … 3 4 5 … 7 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.