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7. where it is needed. Manage resources, not money.
Austerity is never the answer. Making the best of the resources we have, in a sustainable way, in the best interests of citizens, is the answer.
Your thoughts on this?
Austerity is never the answer. Making the best of the resources we have, in a sustainable way, in the best interests of citizens, is the answer.
Your thoughts on this?
December 4, 2025 at 9:40 AM
7. where it is needed. Manage resources, not money.
Austerity is never the answer. Making the best of the resources we have, in a sustainable way, in the best interests of citizens, is the answer.
Your thoughts on this?
Austerity is never the answer. Making the best of the resources we have, in a sustainable way, in the best interests of citizens, is the answer.
Your thoughts on this?
7. Christmas play counting their coins. Complete madness.
Part of that management of resources is related to making choices in relation to inflation: redirect spending, tax, regulate, find out where the spare capacity is, find out where the scarcity is, create more capacity
Part of that management of resources is related to making choices in relation to inflation: redirect spending, tax, regulate, find out where the spare capacity is, find out where the scarcity is, create more capacity
December 4, 2025 at 9:40 AM
7. Christmas play counting their coins. Complete madness.
Part of that management of resources is related to making choices in relation to inflation: redirect spending, tax, regulate, find out where the spare capacity is, find out where the scarcity is, create more capacity
Part of that management of resources is related to making choices in relation to inflation: redirect spending, tax, regulate, find out where the spare capacity is, find out where the scarcity is, create more capacity
6. the entire community of people who put that individual in that position?
Scarce resources tell us we need to make better choices. Sustainable management of scarce resources for the benefit of citizens should be the government's job. Instead they act like the miser in a
Scarce resources tell us we need to make better choices. Sustainable management of scarce resources for the benefit of citizens should be the government's job. Instead they act like the miser in a
December 4, 2025 at 9:40 AM
6. the entire community of people who put that individual in that position?
Scarce resources tell us we need to make better choices. Sustainable management of scarce resources for the benefit of citizens should be the government's job. Instead they act like the miser in a
Scarce resources tell us we need to make better choices. Sustainable management of scarce resources for the benefit of citizens should be the government's job. Instead they act like the miser in a
5. that improves wellbeing.
These are all productive; we just haven't been taught to think of them in that way. It takes a lot to educate, care for, and provide support to a worker producing a widget. Who's working in that scenario? Just the individual producing the widget, or
These are all productive; we just haven't been taught to think of them in that way. It takes a lot to educate, care for, and provide support to a worker producing a widget. Who's working in that scenario? Just the individual producing the widget, or
December 4, 2025 at 9:40 AM
5. that improves wellbeing.
These are all productive; we just haven't been taught to think of them in that way. It takes a lot to educate, care for, and provide support to a worker producing a widget. Who's working in that scenario? Just the individual producing the widget, or
These are all productive; we just haven't been taught to think of them in that way. It takes a lot to educate, care for, and provide support to a worker producing a widget. Who's working in that scenario? Just the individual producing the widget, or
4. I'm just thinking this through as I say the following: what's counted in a traditional sense as 'production' excludes many things, including the types of things that someone on a Job Guarantee might do: care-based, green work, community-based, restorative, cultural – stuff
December 4, 2025 at 9:40 AM
4. I'm just thinking this through as I say the following: what's counted in a traditional sense as 'production' excludes many things, including the types of things that someone on a Job Guarantee might do: care-based, green work, community-based, restorative, cultural – stuff
3. economists seem to be hung up on.
As Mosler et al point out, the Job Guarantee hires people nobody else is hiring. There’s no competition for that labour, meaning wages are not pushed up as a result, and prices are not pushed up.
As Mosler et al point out, the Job Guarantee hires people nobody else is hiring. There’s no competition for that labour, meaning wages are not pushed up as a result, and prices are not pushed up.
December 4, 2025 at 9:40 AM
3. economists seem to be hung up on.
As Mosler et al point out, the Job Guarantee hires people nobody else is hiring. There’s no competition for that labour, meaning wages are not pushed up as a result, and prices are not pushed up.
As Mosler et al point out, the Job Guarantee hires people nobody else is hiring. There’s no competition for that labour, meaning wages are not pushed up as a result, and prices are not pushed up.
2. sustainable growth, not growth that continues to use up resources.
In relation to inflation: it's about real resource shortages, not money. Money is one side of the equation for sure, but more money being spent doesn't equal inflation – it's the default mistake that orthodox
In relation to inflation: it's about real resource shortages, not money. Money is one side of the equation for sure, but more money being spent doesn't equal inflation – it's the default mistake that orthodox
December 4, 2025 at 9:40 AM
2. sustainable growth, not growth that continues to use up resources.
In relation to inflation: it's about real resource shortages, not money. Money is one side of the equation for sure, but more money being spent doesn't equal inflation – it's the default mistake that orthodox
In relation to inflation: it's about real resource shortages, not money. Money is one side of the equation for sure, but more money being spent doesn't equal inflation – it's the default mistake that orthodox
8. management: jobs get lost; infrastructure is not developed or maintained; houses are not built; the health service is starved of the money and the resources it needs; environmental issues are not attended to - and so on.
Read on: tinyurl.com/bdfyxy5u
Read on: tinyurl.com/bdfyxy5u
MMT Basics: Why Floating Exchange Rates Are Central to the Modern Monetary Theory (MMT) Story
Modern Monetary Theory (MMT) explains why a floating exchange rate gives countries more freedom to expand their policy options and support the domestic economy
tinyurl.com
December 2, 2025 at 10:40 AM
8. management: jobs get lost; infrastructure is not developed or maintained; houses are not built; the health service is starved of the money and the resources it needs; environmental issues are not attended to - and so on.
Read on: tinyurl.com/bdfyxy5u
Read on: tinyurl.com/bdfyxy5u
7. domestic goods and services (fewer people are now buying them). Ultimately this leads to rising unemployment as with less demand for their goods and services businesses let workers go. In other words, the wellbeing of citizens has taken a back seat to exchange rate
December 2, 2025 at 10:40 AM
7. domestic goods and services (fewer people are now buying them). Ultimately this leads to rising unemployment as with less demand for their goods and services businesses let workers go. In other words, the wellbeing of citizens has taken a back seat to exchange rate
6. And they do this by cutting public spending and by aiming to constrain wage increases or, indeed, by trying to push wage rates down.
The result: less money to spend in the private sector, lower demand for domestic and foreign goods and services and a lower supply of those
The result: less money to spend in the private sector, lower demand for domestic and foreign goods and services and a lower supply of those
December 2, 2025 at 10:40 AM
6. And they do this by cutting public spending and by aiming to constrain wage increases or, indeed, by trying to push wage rates down.
The result: less money to spend in the private sector, lower demand for domestic and foreign goods and services and a lower supply of those
The result: less money to spend in the private sector, lower demand for domestic and foreign goods and services and a lower supply of those
5. With a fixed exchange rate to manage, governments become reluctant to increase public spending. Instead their focus lands on the need to constrain demand for foreign goods and services - primarily by seeking to cut private sector income.
December 2, 2025 at 10:40 AM
5. With a fixed exchange rate to manage, governments become reluctant to increase public spending. Instead their focus lands on the need to constrain demand for foreign goods and services - primarily by seeking to cut private sector income.
4. it now needs to use even more foreign currency to push the value of the domestic currency back up to the target level. I will get back to what that means for the central bank shortly - but first, how does a fixed exchange rate affect domestic policy goals?
December 2, 2025 at 10:40 AM
4. it now needs to use even more foreign currency to push the value of the domestic currency back up to the target level. I will get back to what that means for the central bank shortly - but first, how does a fixed exchange rate affect domestic policy goals?
3. and the greater need to sell domestic currency pushes down its price.
This is not a situation that suits the central bank - which uses foreign currency to buy (and sell) its own currency on the foreign exchange market in order to keep the exchange rate at the agreed level:
This is not a situation that suits the central bank - which uses foreign currency to buy (and sell) its own currency on the foreign exchange market in order to keep the exchange rate at the agreed level:
December 2, 2025 at 10:40 AM
3. and the greater need to sell domestic currency pushes down its price.
This is not a situation that suits the central bank - which uses foreign currency to buy (and sell) its own currency on the foreign exchange market in order to keep the exchange rate at the agreed level:
This is not a situation that suits the central bank - which uses foreign currency to buy (and sell) its own currency on the foreign exchange market in order to keep the exchange rate at the agreed level:
2. This results in an outflow of foreign currency as those imports get paid for in that foreign currency.
That outflow of foreign currency puts downward pressure on the exchange rate; the greater need to obtain foreign currency pushes up its price -
That outflow of foreign currency puts downward pressure on the exchange rate; the greater need to obtain foreign currency pushes up its price -
December 2, 2025 at 10:40 AM
2. This results in an outflow of foreign currency as those imports get paid for in that foreign currency.
That outflow of foreign currency puts downward pressure on the exchange rate; the greater need to obtain foreign currency pushes up its price -
That outflow of foreign currency puts downward pressure on the exchange rate; the greater need to obtain foreign currency pushes up its price -
. Why did having a fixed exchange rate affect interest rate policy? And why are governments with a fixed exchange rate so worried about inflation? In the next few sections, I will examine each of these questions in turn.
Read on: tinyurl.com/bdfyxy5u
Read on: tinyurl.com/bdfyxy5u
MMT Basics: Why Floating Exchange Rates Are Central to the Modern Monetary Theory (MMT) Story
Modern Monetary Theory (MMT) explains why a floating exchange rate gives countries more freedom to expand their policy options and support the domestic economy
tinyurl.com
December 1, 2025 at 9:02 AM
. Why did having a fixed exchange rate affect interest rate policy? And why are governments with a fixed exchange rate so worried about inflation? In the next few sections, I will examine each of these questions in turn.
Read on: tinyurl.com/bdfyxy5u
Read on: tinyurl.com/bdfyxy5u
6. we need to examine the effects of having to maintain a fixed exchange rate.
With that in mind, I will ask and answer the following questions: why was a fixed exchange rate a barrier to implementing more progressive policies?
With that in mind, I will ask and answer the following questions: why was a fixed exchange rate a barrier to implementing more progressive policies?
December 1, 2025 at 9:02 AM
6. we need to examine the effects of having to maintain a fixed exchange rate.
With that in mind, I will ask and answer the following questions: why was a fixed exchange rate a barrier to implementing more progressive policies?
With that in mind, I will ask and answer the following questions: why was a fixed exchange rate a barrier to implementing more progressive policies?
5. domestic needs. As a result, in theory at least, governments should be able to make the lives of their citizens better.
To understand why that is the case (i.e., why a floating exchange rate provides greater policy freedom),
To understand why that is the case (i.e., why a floating exchange rate provides greater policy freedom),
December 1, 2025 at 9:02 AM
5. domestic needs. As a result, in theory at least, governments should be able to make the lives of their citizens better.
To understand why that is the case (i.e., why a floating exchange rate provides greater policy freedom),
To understand why that is the case (i.e., why a floating exchange rate provides greater policy freedom),
4. A Fiat Currency - What Is It and Why Is It Important?.
A country with a floating exchange rate (i.e., one no longer tied to a fixed exchange rate system such as that implemented within the Bretton Woods system) gains far more freedom to choose the policies that meet
A country with a floating exchange rate (i.e., one no longer tied to a fixed exchange rate system such as that implemented within the Bretton Woods system) gains far more freedom to choose the policies that meet
December 1, 2025 at 9:02 AM
4. A Fiat Currency - What Is It and Why Is It Important?.
A country with a floating exchange rate (i.e., one no longer tied to a fixed exchange rate system such as that implemented within the Bretton Woods system) gains far more freedom to choose the policies that meet
A country with a floating exchange rate (i.e., one no longer tied to a fixed exchange rate system such as that implemented within the Bretton Woods system) gains far more freedom to choose the policies that meet
3. or simply downplay their significance, the MMT lens reveals their importance.
I will mainly be concentrating on the issue of exchange rates. For an explanation of why a fiat currency is important to the MMT story, read my article,
I will mainly be concentrating on the issue of exchange rates. For an explanation of why a fiat currency is important to the MMT story, read my article,
December 1, 2025 at 9:02 AM
3. or simply downplay their significance, the MMT lens reveals their importance.
I will mainly be concentrating on the issue of exchange rates. For an explanation of why a fiat currency is important to the MMT story, read my article,
I will mainly be concentrating on the issue of exchange rates. For an explanation of why a fiat currency is important to the MMT story, read my article,
2. These two features influence what a government can and can’t do – without them governments lose much of the freedom they need to run their economy independently from external constraints. While orthodox economics appear to be blind to this,
December 1, 2025 at 9:02 AM
2. These two features influence what a government can and can’t do – without them governments lose much of the freedom they need to run their economy independently from external constraints. While orthodox economics appear to be blind to this,