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
By 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 MoreDear Dominic One all night sesh we had playing Monopoly in college and the banker ran out of money. We just wrote out more notes and it worked fine. Should …
Breaking free from false economic narratives Read More“The rich run a global system that allows them to accumulate capital and pay the lowest possible price for labour. The freedom that results applies only to them. The many …
Just getting by is not enough Read MoreSociety is indeed a contract. It is a partnership … not only between those who are living, but those who are dead and those who are to be born. Edmund …
The deceitful image of money scarcity has no place in our society. 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 MorePublic duty and the public purpose? Or, self-serving interest? Politicians have a choice. We have a choice. The problems we face did not come down from the heavens. They are …
We can afford to choose public purpose spending 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 More“When the MMT coin drops and you realise the suffering is gratuitous” Stephanie Kelton In this week’s blog, hunger is on the menu yet again. Gratuitous hunger and hardship. Gratuitous …
Ending needless suffering Read More