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. There is some redundancy and there are different approaches. Our favorite pieces may not be yours. We recommend you look at the first five on this page. Then take a look at everything under the Resources tab.

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

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.

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.

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 Hall, The Conversation, Jan 30, 2017

The Basics of Modern Money, Geoff Coventry,, Jan 2018

Government debt versus household debt: ‘Good’ and ‘bad’ debt explained,
— Steven Hall, May 3, 2017

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