{"id":91252,"date":"2026-03-31T07:17:22","date_gmt":"2026-03-31T06:17:22","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=91252"},"modified":"2026-03-31T07:17:22","modified_gmt":"2026-03-31T06:17:22","slug":"will-we-have-a-galileo-moment","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/03\/31\/will-we-have-a-galileo-moment\/","title":{"rendered":"Will we have a Galileo moment?"},"content":{"rendered":"

I was asked by an economics correspondent at a well-known organisation yesterday to provide them with some questions for a Q&A session they were going to be participating in. I was happy to do so, and then suggested that the session the organisation in question really required was on modern monetary theory (MMT), which I thought it misrepresented.<\/p>\n

The reply that I got was:<\/p>\n

\n

I think convincing people (and everyone who has any influence over the opinion about finance) that everything they think about money is pretty much wrong is too tall an order.<\/p>\n<\/blockquote>\n

Unsurprisingly, I found this a little depressing. My reply was as follows:<\/p>\n

\n
Galileo\u00a0won.<\/div>\n
<\/div>\n
What would have happened if he had not?<\/div>\n<\/blockquote>\n

Will we have a Galileo moment?<\/p>\n

Or will it be the case that our media will persist with an economic story they know to be false because they are too frightened to admit that government spending really does create money, and that taxes exist to recover it from the economy?<\/p>\n

Our economic well-being might depend on the answer to that question.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

I was asked by an economics correspondent at a well-known organisation yesterday to provide them with some questions for a Q&A session they were going
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