Modern Money Operations

        

Introduction

Warren Mosler created Modern Monetary Theory from his examination of how the Federal government actually functions to create, spend, tax and borrow its sovereign currency.  This site supports his extraordinary insight into those daily functions of our government's fiscal and monetary operations.  MMT is not theory, philosophy or ideology, it's simply a description of how this "Money Thing" works.

However, there exists, today, a ruinous devotion to balancing the national budget. We see it in our elected officials, main steam media, TV pundits, and unfortunately, our academic elites and the general public. Fortunately, the Internet provides a mostly uncensored medium through which an infinite stream of opinions, facts, and hypotheses can be presented, debated, supported or, discarded. There also exists a plethora of academic and scholarly articles supporting and opposing MMT. 

Here I take the heterodox position on monetary policy. That is, a sovereign government that issues its own floating rate, fiat currency is not revenue constrained. In other words, taxes are not needed to fund the government. It does not need to balance its budget since it does not need revenue when issuing its own currency.  

Would you?

I re-post articles that challenge and indeed contradict received wisdom about fiscal policy from government agencies, and other "self proclaimed authorities."

Thanks for spending a few moments examining the indisputable facts of monetary sovereignty.