Are we all modern monetary theorists when the chips are down?

Posted on

I noted this in an email last night. You can see the source:

A number of thoughts follow.

First, who is questioning the value of government now?

Second, who is asking where the money is coming from?

Third, who is discussing whether the cost should be added to the national debt?

Fourth, who is worrying about whether their grandchildren will inherit the cost?

Fifth, who is saying there is no magic money tree?

Might we all, in other words, be modern monetary theorists, believing in the power of government and its ability to create money on demand when the chips are down?

Now, will the Telegraph allow informed debate on this? I doubt it, somehow. They are hypocrites, after all.

PDF of article


Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:

There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.

You can subscribe to this blog's daily email here.

And if you would like to support this blog you can, here:

  • Richard Murphy

    Read more about me

  • Support This Site

    If you like what I do please support me on Ko-fi using credit or debit card or PayPal

  • Archives

  • Categories

  • Taxing wealth report 2024

  • Newsletter signup

    Get a daily email of my blog posts.

    Please wait...

    Thank you for sign up!

  • Podcast

  • Follow me

    LinkedIn

    LinkedIn

    Mastodon

    @RichardJMurphy

    BlueSky

    @richardjmurphy.bsky.social