Introductory Material

There is a growing body of work describing, explaining and otherwise clarifying how money works in nations with a sovereign currency. Regardless of whether a piece comes from the U.S., the U.K., Australia or any other nation with a sovereign currency, the basics are the same. Among these articles, there is some redundancy and there are different approaches. Our favorite pieces may not be yours. We recommend you begin with the first five links on this page.

Congress can give every American a pony (if it breeds enough ponies),
— Stephanie Kelton, LA Times, Sept. 29, 2017.

The Basics of Modern Money, Geoff Coventry, http://modernmoneybasics.com/, Jan 2018

The Basics. Five articles provide a solid understanding of the basics of federal spending in easy to understand language. They cover what a US Dollar is, what US paper currency (cash) is, where the US Dollar comes from, federal taxation, federal deficit spending, budget surpluses, the Sectoral Balances equation, an overview of basic banking operations, and the US national debt.
— Ellis Winningham, MMT and Modern Macro Economics, Oct. 2016.

Government debt versus household debt: ‘Good’ and ‘bad’ debt explained
— Steven Hail, (@StevenHailAus) ‏ Independent Australia, May 3, 2017.

MODERN MONEY THEORY: THE BASICS
— L. Randall Wray New Economic Perspectives, June 24, 2014.

MMT on a Postcard


— Lambert Strether, NakedCapitalism, May 29, 2014

Randy Wray: Modern Monetary Theory – The Basics, NakedCapitalism, June 28, 2014

Warren Mosler: Seven Deadly Innocent Frauds Of Economic Policy MoslerEconomics, Dec. 10, 2009 Note: this links to a pdf, the first page of which is blank.



Episode 1: MMT for Beginners, Q&A with Steve Friedman

— Adam Rice (@adamarice) May 6, 2018


A “Twitter Tutorial from Citizens’ Media TV
@citizensmediatv
March 14, 2018

Intro To Modern Money Theory • 22 short videos. MMT is partly a description of how our modern fiat, floating exchange rate currencies actually work, and partly a prescription of what we ought to do with this knowledge. MMT includes the realization that many of the constraints we place on our money system today as well as many of our models for understanding it are actually holdovers from the era of gold-standards and fixed exchange rates that no longer apply.
— Deficit Owls, Deficit Owls, Last updated Aug 2, 2017.

The Basics of Modern Monetary Theory,
— Alex Little, A Little Econ: There is an Alternative, June 3, 2014


The Basics of Modern Money
A nation’s currency is a wonderful, powerful thing. Learn how countries like the U.S.—which issue their own sovereign currency—can afford to use that currency to serve their citizens. Get inspired about our untapped potential, and learn to be less worried about the so-called “national debt”!


The Rock-Star Appeal of Modern Monetary Theory: The Sanders generation and a new economic idea Atossa Araxia Abrahamian, The Nation, May 8, 2017

MMT Primer,
— L. Randall Wray, New Economic Perspectives

Modern Money Mechanics, MMT Simplified, Senexx, MMT simplified

Explainer: what is modern monetary theory?
— Steven Hail, (@StevenHailAus), The Conversation, Jan 30, 2017

Government debt versus household debt: ‘Good’ and ‘bad’ debt explained,
— Steven Hail, (@StevenHailAus) May 3, 2017

It’s taxpayers’ money….er no, it’s not!
— John Kelly, The AIM Network, Oct. 9, 2017

Modern Monetary Theory in a Nutshell
— Larry Kazdan The Johnsville News , June 29, 2011