paradigm Archives - The Gower Initiative for Modern Money Studies

Phil Armstrong, Solent University, Southampton Sara Holland, Claire Jackson-Prior and Prue Plumridge, Gower Initiative for Modern Money Studies Published online 5th April 2020 Full article Introduction …

Academic Paper / Blogs / MMT Long Read

Modern Monetary Theory and a Heterodox Alternative Paradigm

26th December 201823rd February 2019

Phil Armstrong Published online 26th December 2018 Full Article Abstract Orthodox or neo-classical economics failed to predict the global financial crisis (GFC) or even allow for the possibility of such …

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Stuart Medina Miltim @smiltim ·

31 Oct

What's insane is to have an accounting balance as a target.

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Stephanie Kelton @stephaniekelton ·

31 Oct

The gilt market exists to give 🇬🇧 government influence over the term structure of interest rates. How much influence they choose to exert is ultimately a policy choice. Gilt-free spending is another option, if you’re prepared to eliminate the income subsidy by not issuing bonds.

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Sheridan Kates 🕊️ @sheridanvk ·

31 Oct

Honestly wild to see so much obsession over the gilt yields. We must stop pretending that the government is borrowing money when it spends, and that the Bank of England can't just step in and hold this rate to whatever it wants. Otherwise we will get nothing done in our economy.

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Prem Sikka @premnsikka ·

30 Oct

S&P downgrades Thames Water debt into ‘junk’.

Major shareholders have written off investment.

Credit rating is junk.

Water companies want price hikes of up to 84% to rescue them.

No bill rises, no bailout, let them crash. Nationalise at low cost.

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Tony Weston @tonywestonuk ·

29 Oct

Aaron is part of the problem.

The idea that the government has no money, and no power, has allowed this to happen. A worked example.

Road is covered in potholes.
People are unemployed.
There are materials to fix the road.

BUT, there is no money to fund it.

Why? ..\

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Tag: paradigm

Economics and the political and social environment; lessons for MMT advocates

Modern Monetary Theory and a Heterodox Alternative Paradigm