Gower Initiative for Modern Money Studies

Independent, promoting an understanding of economics & the policy space afforded by our monetary system for social & environmental justice. #MMT #JobGuarantee

[Gower Initiative for Modern Money Studies @GowerInitiative]

Filling the gaping black holes in our roads and infrastructure @RachelReevesMP that’s what the public purse was designed to do.
Don’t let @hmtreasury tell you otherwise, we’ve blown their cover. #MMT
https://t.co/GVdF3SwLVO

[SHolland @sarahollando552]

True for the US
True for the U.K.
#MMT @wbmosler
@GowerInitiative

[Tally Sticks @widespreadhaze]

First government does not spend by printing money.

What makes us richer are the resources that are mobilised by both government and private spending.

At the global level all financial liabilities and all financial assets offset each other, cancelling to zero. What remains are the resources harnessed, the stuff built etc etc.

[Tally Sticks @widespreadhaze]

Good question. The answer is simply that our ancestors ran a commodity based currency system: a silver standard. However, for centuries they utilised systems to bypass the silver constraint, such as ‘tallies of pro’. The ancient Exchequer of Receipt was in effect a clearing house for such financial instruments.

Given the abandonment of commodity currency and sterling convertibility (think ERM exit in 1992), sterling is simply a token, a tax credit, if you will, of which Government is a monopolist. Thus there is no intrinsic financial constraint. But, as you rightly point out, the constraint is in real terms. Government is limited by the availability of real resources at a price it’s prepared to pay.

This is what MMT simply observes, which is far from being an elaborate joke.

[Tally Sticks @widespreadhaze]

The money comes from MPs votes. It’s called ‘Money from Parliament’.

You are an MP and should know this, it is your job after all.

[Pavlina R Tcherneva @ptcherneva]

We call on the Indian government to recommit to MGNREGA & its demand-driven access to employment from a human rights perspective. Join me, @JosephEStiglitz, @MazzucatoM, @Ferreras_Isa, @PikettyWIL, @srpoverty, @DarrickHamilton, @Jayati1609 and other experts by signing our letter.

[Steven Hail @StevenHailAus]

The means of the UK are not tax receipts of the UK Government. They are the people, skills, materials, equipment, technology and institutional capacity of the UK government and private sector.

Anything that can actually be done by and with those resources can be paid for.

Hope!

[Robert Cauneau @robert_cauneau]

Le déficit public est-il choisi ou subi ? Depuis 1970, la dette française explose… mais est-ce vraiment la faute à un État dépensier ?
Cet article décrypte les mécanismes réels derrière les chiffres, et pourquoi le débat actuel est à côté de la plaque.
👉https://t.co/aTKnJpDmC6

[Pavlina R Tcherneva @ptcherneva]

Extremely worrisome. Modi's govt poised to vote to destroy the rural job guarantee tomorrow. They've long tried to sabotage MGNREGA w/ funding cuts, but these reforms are new level of assault. Only the National govt can uphold the rights-based mandate & supply the needed finance.

[Fadhel Kaboub فاضل قابوب @FadhelKaboub]

Check out our op-ed in the Daily FT about the ongoing climate-debt crisis facing Sri Lanka (co-authored with Charith Gunawardena and Richard Tye): https://t.co/DX2M9snZuW

[Gower Initiative for Modern Money Studies @GowerInitiative]

“Sri Lanka’s challenge is not insolvency in its own currency, but structural vulnerability inherited from a development model that privileged external discipline over internal resilience.” #MMT
@widespreadhaze @FadhelKaboub @CllrGunawardena
https://t.co/pQjXKK6oty

[Steven Hail @StevenHailAus]

I thought non-economists might be interested in a class from the first week of our Masters, where we introduce neoclassical and heterodox notions of studying the economy - Economics and the Scientific Method.

https://t.co/HykXlin8xH

[Steven Hail @StevenHailAus]

Every single unit of spending which takes place by a currency-issuing government involves the creation of money. In the UK, every single pound, every single day. Subsequent bond auctions then involve swapping one form of currency for another - saving deposits for sight deposits.

[Stephanie Kelton @StephanieKelton]

(V)ery
(E)arnest
(R)epackaging of
(D)ogmatic
(A)usterity
(N)arratives from
(T)hatcher

[Clint Ballinger @clintballinger]

How Modern Monetary Theory (MMT) Actually Works

https://t.co/I8jkZGWiip

[Macro n Cheese Podcast #MMT @CheeseMacro]

NEW EPISODE! ✊
Historian @vijayprashad talks with @sdgrumbine about Antonio Gramsci, cultural hegemony, and why working-class movements can get derailed by counterrevolution. Find out what real change requires beyond elections.

https://t.co/a0B1bm217b

[Stephanie Kelton @StephanieKelton]

Zack needs to explain that gilts are a privilege not an economic imperative or a fundamental human right. Say he’s prepared to take the privilege away (or return to tap system) if bond holders abuse it, and that he will not be intimidated because he understands that the purpose of issuing gilts is to establish a risk-free yield curve, not to finance the gov, which is self-financing anyway.

[Steven Hail @StevenHailAus]

We have terrific students

McAlindon, R. 2025.  The Price of Profit - An Analysis of Pandemic-Era Inflation, the Cost-of-Living Crisis and Government Policy in the United Kingdom of Great Britain & Northern Ireland. MML Working Paper No. 9, December 2025

https://t.co/m3oiXD6AmY

[Steven Hail @StevenHailAus]

More foolish propaganda from self-satisfied people who think everything is fine the way it is and that they have nothing to learn.

MMT is no 'conspiracy theory' and does NOT say govts should 'print and spend as much money as they like'.

Only an idiot or knave would claim so.

[Patricia @PatriciaNPino]

@spikedonline MMT isn't a conspiracy theory, nor does it say the government can print and spend as much money as they like. One expects more from journalists. Please interview an MMT economist.

[Stephanie Kelton @StephanieKelton]

“The Government can always create the money it needs to fund any project that it thinks is worthwhile. And the claim that it was cheaper for the private sector to fund these activities than for the State to do so was very obviously completely and utterly wrong.”