{"id":90491,"date":"2026-03-02T07:10:31","date_gmt":"2026-03-02T07:10:31","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=90491"},"modified":"2026-03-02T07:10:31","modified_gmt":"2026-03-02T07:10:31","slug":"are-we-all-modern-monetary-theorists-when-the-chips-are-down","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/03\/02\/are-we-all-modern-monetary-theorists-when-the-chips-are-down\/","title":{"rendered":"Are we all modern monetary theorists when the chips are down?"},"content":{"rendered":"

I noted this in an email last night. You can see the source:<\/p>\n

\"\"<\/p>\n

A number of thoughts follow.<\/p>\n

First, who is questioning the value of government now?<\/p>\n

Second, who is asking where the money is coming from?<\/p>\n

Third, who is discussing whether the cost should be added to the national debt?<\/p>\n

Fourth, who is worrying about whether their grandchildren will inherit the cost?<\/p>\n

Fifth, who is saying there is no magic money tree?<\/p>\n

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?<\/p>\n

Now, will the Telegraph allow informed debate on this? I doubt it, somehow. They are hypocrites, after all.<\/p>\n","protected":false},"excerpt":{"rendered":"

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
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