Sign in

MMT101.ORG

@learnmmt101.bsky.social
719 followers 907 following 1.8K posts

Learn Modern Monetary Theory (MMT) economics so you can help change the world for the better. mmt101.substack.com

PostsRepliesMedia
MMT101.ORG @learnmmt101.bsky.social · 27/09/2026
New on MMT101: How Government Spending Actually Works and Why It's Different From What You Hear on TV A deep dive into the myths of national debt, the truth about taxes, and the real reason austerity happens tinyurl.com/ym8azc5u
tinyurl.com
How Government Spending Actually Works and Why It's Different From What You Hear on TV
A deep dive into the myths of national debt, the truth about taxes, and the real reason austerity happens
022
MMT101.ORG @learnmmt101.bsky.social · 21/09/2026
1. There is a paradox at the heart of orthodox economics: if asked (and this may surprise you), most orthodox economists will tell you that ‘yes they agree that currency issuing governments are indeed different from households, in as much as they don’t need to earn or borrow before they can spend’.
143
MMT101.ORG @learnmmt101.bsky.social · 20/09/2026
New on MMT101: A Balanced Budget Policy is Stupidity Writ Large Constraining government spending as a policy goal is misguided, illogical and can lead to economic instability I think you will like this one. :-) tinyurl.com/2wu7hfab
tinyurl.com
A Balanced Budget Policy is Stupidity Writ Large
Constraining government spending as a policy goal is misguided, illogical and can lead to economic instability
011
MMT101.ORG @learnmmt101.bsky.social · 13/09/2026
1. New on MMT101: Automatic Stabilisers for the Economy: What Are They and What Does MMT Bring to the Party Unemployment payments or the Job Guarantee: which one does the best job of stabilising the economy?
110
MMT101.ORG @learnmmt101.bsky.social · 06/09/2026
1. New on MMT101: A ‘Short’ Introduction to Modern Monetary Theory (MMT): What Is It & What Makes It Useful? In this week’s article my goal is to give you an introduction to MMT: how it started, who was involved, what it is, what’s unique about it,
143
MMT101.ORG @learnmmt101.bsky.social · 31/08/2026
1. New on MMT101: Narrow money explained – and why orthodox economists and Modern Monetary Theory (MMT) economists look at it differently I started my exploration of the money supply in ‘The Money Supply and The Role of Central Bank Reserve Accounts - Part 1: Base Money’,
154
MMT101.ORG @learnmmt101.bsky.social · 25/08/2026
1. The idea of sectoral balances is simple, yet many people find it difficult to get their head around it. I know that because I found it difficult myself when first encountering it. I think maybe I was thrown by the name.
132
MMT101.ORG @learnmmt101.bsky.social · 23/08/2026
New on MMT101: MMT Basics: Sectoral Balances - A Beginners Guide mmt101.substack.com/p/mmt-basics...
mmt101.substack.com
MMT Basics: Sectoral Balances - A Beginners Guide
Modern Monetary Theory – via Economist Wynne Godley – provides a beginner-friendly introduction to understanding deficits, surpluses and the ‘national' debt
020
MMT101.ORG @learnmmt101.bsky.social · 16/08/2026
1. State Pensions: What Would Happen If The Government Understood How The Monetary System Worked? If the government actually understood how government spending works, how should they view and manage their obligation to pensioners in the UK?
133
MMT101.ORG @learnmmt101.bsky.social · 15/08/2026
Only governments can afford to save us. How Can We Tackle Global Warming? Is the Private Sector Capable of Saving the Planet? mmt101.substack.com/p/is-the-pri...
mmt101.substack.com
How Can We Tackle Global Warming? Is the Private Sector Capable of Saving the Planet?
Exploring J.D. Alt’s case for why profit-driven finance is mathematically unsuited for climate mitigation—and the alternative we've overlooked. MMT points us in the right direction.
023
MMT101.ORG @learnmmt101.bsky.social · 03/08/2026
New on MMT101: What's Happened to the NHS? And Does MMT Have the Answers? Read on: tinyurl.com/mvrfdb48
tinyurl.com
What's Happened to the NHS? And Does MMT Have the Answers?
How decades of market reforms changed England's health service - and why Modern Monetary Theory (MMT) tells us that the real constraint was never money
052
Reposted by MMT101.ORG
MMT101.ORG @learnmmt101.bsky.social · 26/07/2026
New on MMT101. GDP: Built for Bombs in the 1940s – What Is It and Is It Still Useful Today? An introduction to Gross Domestic Product (GDP): where it came from, what it measures, and why it's the wrong tool for the job. Read on: tinyurl.com/4yubhhbk
tinyurl.com
GDP: Built for Bombs in the 1940s — What Is It and Is It Still Useful Today?
An introduction to Gross Domestic Product (GDP): where it came from, what it measures, and why economists, from Nobel laureates to MMT thinkers, think it's the wrong tool for the job.
012
Reposted by MMT101.ORG
MMT101.ORG @learnmmt101.bsky.social · 28/07/2026
1. Burnham attacks the poorest so he can save enough money to make war. He seems to be unaware that the UK Government issues the UK pound and you can't run out of something you issue yourself.
353
MMT101.ORG @learnmmt101.bsky.social · 28/07/2026
1. Burnham attacks the poorest so he can save enough money to make war. He seems to be unaware that the UK Government issues the UK pound and you can't run out of something you issue yourself.
353
MMT101.ORG @learnmmt101.bsky.social · 27/07/2026
1. So much for the enlightenment. Economics is dominated by myth and nonsense. And it's no laughing matter: it's destroying our planet and destroying our lives. Why do people simply refuse to look at the logic of government spending?
164
MMT101.ORG @learnmmt101.bsky.social · 26/07/2026
New on MMT101. GDP: Built for Bombs in the 1940s – What Is It and Is It Still Useful Today? An introduction to Gross Domestic Product (GDP): where it came from, what it measures, and why it's the wrong tool for the job. Read on: tinyurl.com/4yubhhbk
tinyurl.com
GDP: Built for Bombs in the 1940s — What Is It and Is It Still Useful Today?
An introduction to Gross Domestic Product (GDP): where it came from, what it measures, and why economists, from Nobel laureates to MMT thinkers, think it's the wrong tool for the job.
012
MMT101.ORG @learnmmt101.bsky.social · 24/07/2026
I’m reading and listening to a lot of stuff related to economist Adam Smith at the moment. This morning I was listening the Freakonomics Radio episode called, “Was Adam Smith Really a Right Winger? (Update). Seek it out, it’s well worth a listen. tinyurl.com/mu4rvfw2
tinyurl.com
Was Adam Smith Really a Right-Winger? (Update) - Freakonomics
Was Adam Smith Really a Right-Winger? (Update) - Freakonomics
021
MMT101.ORG @learnmmt101.bsky.social · 23/07/2026
Want to learn more about how government spending actually works? Subscribe to my MMT101 Substack for my weekly articles explaining how the monetary system works. mmt101.substack.com
mmt101.substack.com
MMT101.ORG - Learn Modern Monetary Theory (MMT) Economics | Substack
For people who believe we can build a fairer, greener world by understanding how our monetary system works. Click to read MMT101.ORG - Learn Modern Monetary Theory (MMT) Economics, by Jim Byrne - MMT1...
022
MMT101.ORG @learnmmt101.bsky.social · 23/07/2026
1. Here’s my take on the news that the UK government public debt has pushed the UK’s cost of borrowing higher than Italy’s, Spain’s, and Greece’s. As a government, knowing that you made the money being used to by the banks to buy your own bonds and you now make the money that
331
MMT101.ORG @learnmmt101.bsky.social · 22/07/2026
1. Despite the noises, I very much doubt Burnham will make a dent in the neoliberal agenda. He’s already said he’s signed up to adhering to ‘fiscal rules’ which anyone who knows how government funding actually works - are 100% a load of neoliberal nonsense.
263
MMT101.ORG @learnmmt101.bsky.social · 20/07/2026
It's time for Ethical Economics. What do I mean by that? Read on: mmt101.substack.com/p/ethical-ec...
mmt101.substack.com
Ethical Economics: Let’s Change the Paradigm Entirely
The case for Ethical Economics: a new model centred on what humans need to flourish
011
MMT101.ORG @learnmmt101.bsky.social · 18/07/2026
Independence for Scotland should not be about votes. We didn't vote to get our country stolen in the first place. Scotland is a country: it should be run by Scots. It's as simple as that. Being controlled by another country is just wrong: it's colonialism. It has to be undone.
24518
MMT101.ORG @learnmmt101.bsky.social · 17/07/2026
1. It's time to throw us out of this union for bad behaviour. The English media think they are our parents and need to give us a row. There something wrong with this relationship, just can't put my finger out it.
SNP MP Lara Bird and Scottish Labour MP Euan Stainbank allegedly celebrating Argentina's dramatic win over England
110
MMT101.ORG @learnmmt101.bsky.social · 16/07/2026
1. My reply to a rather aggressive question asking how inequality can be tackled. There are a million things that can be done - these are just a few of them. Not as complicated as you think N@&!(n. When the government provide services such as healthcare as the point of need,
121
Reposted by MMT101.ORG
MMT101.ORG @learnmmt101.bsky.social · 13/07/2026
Governance should be about managing resources not money. Currency issuing governments can't run out of something they issue themselves.
When you have a (supply and demand) equation with only two variables, money and resources and you know that one side of that equation is unlimited and the other finite, which one do you concentrate on?

You concentrate on the one that is potentially scarce - the resource side of the equation.
064
Reposted by MMT101.ORG
MMT101.ORG @learnmmt101.bsky.social · 13/07/2026
1. UK’s propagandist (BBC etc) have figured out a way to keep their influence going in the social media age. The UK government are wanting to put in place legislation to force YouTube etc to give priority to the content of those state propagandists.
111
MMT101.ORG @learnmmt101.bsky.social · 14/07/2026
I’ve crept into the Substack charts again with my latest article explaining the exciting topic of inflation. And that’s despite the fact that I edited out my best jokes.
051
MMT101.ORG @learnmmt101.bsky.social · 13/07/2026
1. UK’s propagandist (BBC etc) have figured out a way to keep their influence going in the social media age. The UK government are wanting to put in place legislation to force YouTube etc to give priority to the content of those state propagandists.
111
MMT101.ORG @learnmmt101.bsky.social · 13/07/2026
Governance should be about managing resources not money. Currency issuing governments can't run out of something they issue themselves.
When you have a (supply and demand) equation with only two variables, money and resources and you know that one side of that equation is unlimited and the other finite, which one do you concentrate on?

You concentrate on the one that is potentially scarce - the resource side of the equation.
064
Reposted by MMT101.ORG
dave161256.bsky.social @dave161256.bsky.social · 08/07/2026
The point is that poverty in the UK is a political choice that has been made by every government for the last 45 years. Poverty is never an economic necessity. #MMT
022
MMT101.ORG @learnmmt101.bsky.social · 08/07/2026
When the government fails to address poverty and inequality, everyone loses.
032
MMT101.ORG @learnmmt101.bsky.social · 08/07/2026
'Born into poverty, stay in poverty' is not just a tragedy for the individual – it's a loss for everyone. When you scale that lost potential up over the entire country - and the government does nothing about it - that's self-harm. Eradicate poverty, reduce inequality and everyone wins.
141
MMT101.ORG @learnmmt101.bsky.social · 08/07/2026
MMT101 Podcast: Economists John Harvey on the Job Guarantee and inflation.
021
MMT101.ORG @learnmmt101.bsky.social · 06/07/2026
Economist John Harvey reflecting on what he was taught at the University of Tennessee.
042
MMT101.ORG @learnmmt101.bsky.social · 06/07/2026
John Harvey reveals and explains the business cycle on the MMT101 Podcast.
011
MMT101.ORG @learnmmt101.bsky.social · 05/07/2026
New on the MMT101 Podcast: John T. Harvey on Business Cycles and How to Reduce the Damage of Recessions tinyurl.com/2wp3cxkb
tinyurl.com
John T. Harvey on Business Cycles and How to Reduce the Damage of Recessions
Post Keynesian and Institutionalist economist John T. Harvey discusses his new book, US Business Cycles 1954-2020, and what drives business cycles and how to reduce their impact
032
Reposted by MMT101.ORG
Scottish Independence Podcasts @scottishindypod.bsky.social · 04/07/2026
Indypodcasters Fiona and Marlene windswept on #Prestwick beach where @believeinscotland.bsky.social are taking part in a Day of Action including delivering thousands of #leaflets followed by a beach #litterpick - well done to all who took part and look out for our video coming soon!
Fiona and Marlene posting for a pic at Prestwick beach, the sky is dark and overcast, the sea is grey-green and choppy and we are looking somewhat windswept !
0187
Reposted by MMT101.ORG
MMT101.ORG @learnmmt101.bsky.social · 02/07/2026
1. Let's learn some very basic ideas relating to currency sovereignty. Some countries are currency creators and some countries are currency users. A country that can supply or remove money from the economy - is said to have currency sovereignty.
123
MMT101.ORG @learnmmt101.bsky.social · 02/07/2026
1. Let's learn some very basic ideas relating to currency sovereignty. Some countries are currency creators and some countries are currency users. A country that can supply or remove money from the economy - is said to have currency sovereignty.
123
MMT101.ORG @learnmmt101.bsky.social · 02/07/2026
1. The 2020 expansion of the Ways and Means Facility during Covid is the ultimate empirical proof of MMT’s insights into how government spending works. It proves that when the ‘borrowing’ conventions are inconvenient, the state can bypass them instantly.
111
Reposted by MMT101.ORG
Ricky Davila @therickydavila.bsky.social · 02/07/2026
President Claudia Sheinbaum is rolling out Universal Healthcare for 120 Million Mexican residents. Now that is leadership, I’m both jealous and very happy for the people of Mexico.
302133762992
Reposted by MMT101.ORG
Jason Hickel @jasonhickel.bsky.social · 02/07/2026
"The climate crisis cannot be addressed within capitalism. It is vital that we understand this fact and develop our strategies accordingly, otherwise we are headed for certain failure. And failure is not an option." jasonhickel.substack.com/p/climate-so...
jasonhickel.substack.com
Climate socialism
I am writing this message to the millions of people who have been involved in the climate movement over the past several years.
519881
MMT101.ORG @learnmmt101.bsky.social · 02/07/2026
The UK Government cannot run out of UK pounds. If you think otherwise you are being gaslit by the media and politicians.
114
MMT101.ORG @learnmmt101.bsky.social · 01/07/2026
1. I’ve been chatting to post-Keynesian and institutionalist economist John T. Harvey - on the MMT101 Podcast - about his new book, US Business Cycles 1954-2020. Subscribe to my MMT101 Substack to hear our chat on Sunday at 2pm UK time.
131
MMT101.ORG @learnmmt101.bsky.social · 30/06/2026
State money is an idea not a thing.
State money is an idea, not a thing. Politicians will never run out of ideas. Whatever gets authorised by Parliament gets spent. The legal framework is set up to ensure that is the case, and it has never failed. The UK government can’t run out of UK pounds. It issues them when Parliament makes a decision to spend. What is important in this system is available resources and productive capacity. These things are scarce. State money isn’t.
054
MMT101.ORG @learnmmt101.bsky.social · 30/06/2026
1. The legal architecture of the UK governments financial machinery is unambiguous. It is designed to ensure that when the government makes a spending decision, there is nothing that can stop that spending being carried out
422
Reposted by MMT101.ORG
Libretio @libretio.bsky.social · 28/06/2026
Vital stuff. This bit in particular stood out: "That is, reserves are issued into commercial bank reserve accounts held at the central bank; they are not backed by anything other than the ability to make numbers appear in commercial bank reserve accounts." A *literal* magic money machine!...
042
Reposted by MMT101.ORG
MMT101.ORG @learnmmt101.bsky.social · 28/06/2026
New on MMT101: The Bond Market Doesn’t Fund the UK Government – Here Is the Legal Proof Following on from last week’s piece: in this week’s article I continue my examination of the financial machinery of the UK Government. mmt101.substack.com/p/the-bond-m...
mmt101.substack.com
The Bond Market Doesn’t Fund the UK Government – Here Is the Legal Proof
Modern Monetary Theory (MMT) shows the UK government doesn't borrow to fund its spending — the money was already issued by the central bank.
195
MMT101.ORG @learnmmt101.bsky.social · 28/06/2026
New on MMT101: The Bond Market Doesn’t Fund the UK Government – Here Is the Legal Proof Following on from last week’s piece: in this week’s article I continue my examination of the financial machinery of the UK Government. mmt101.substack.com/p/the-bond-m...
mmt101.substack.com
The Bond Market Doesn’t Fund the UK Government – Here Is the Legal Proof
Modern Monetary Theory (MMT) shows the UK government doesn't borrow to fund its spending — the money was already issued by the central bank.
195
MMT101.ORG @learnmmt101.bsky.social · 23/06/2026
1. What are central bank reserves for? How do central banks use reserves: i.e. what functions do they serve. I have summarised their main functions in the following bullet points: * They allow banks to settle payments with each other.
100