Everything they told you about money is wrong
taxresearch.org.uk
Modern Monetary Theory flips the script on government finance — arguing that sovereign currency issuers can't "run out" of money the way households can, upending decades of austerity logic.
Modern Monetary TheoryFiscal PolicyKeynesian EconomicsMonetary Sovereignty
Theory Briefing
- Modern Monetary Theory argues that governments issuing their own currency face no household-style budget constraint, challenging mainstream economic orthodoxy.
- MMT reframes inflation — not debt — as the real limit on government spending, inverting the deficit-fear narrative dominating policy debate.
- The article suggests widely held assumptions about money and fiscal responsibility are not economic laws but political choices dressed as facts.