Modern Monetary Theory
Robin McAlpine: Why the debate about MMT in the indy movement is exactly what we need right now
Common Weal director Robin McAlpine finds that the debate around Modern Monetary Theory can help the independence movement develop an economic case for independence far better than a redacted version of the Growth Commission
IT’S been really interesting to start the year with a debate over Modern Monetary Theory. I think it speaks well of the independence movement that we're even looking at these important issues, thinking which is woefully absent from much of the UK economic debate.
The magic money tree is real: Treasury confirms taxes are not needed to fund government spending
Richard Murphy: “What we actually have here is…an admission that the government can create money at will. So the 'magic money tree' exists, as a matter of fact.”
A LETTER from the Economic Secretary of the Treasury has confirmed that the government does not need to raise money from taxation to fund government spending, leading to advocates of increased public investment to declare “the magic money tree exists, as a matter of fact”.