The Minimum Wage Jobs (MWJ) Framework is the most operationally efficient version of a Job Guarantee for the United Kingdom. It achieves the dual objective of a modern stabilisation system: eliminating involuntary unemployment while providing a permanent anchor for inflation.
Big government or small? Physics doesn’t care. Why the economy is an electric motor, and why “balancing the books” is the wrong way to drive.
Why sovereign democracies must dismantle the mythology of ‘bond vigilantes’ to restore political agency
Rachel Reeves’ tax hikes are sold as plugging a ‘black hole’, but the real aim may be freeing up resources for public investment, not balancing a mythical household budget
Under English law, legal tender is a fading procedural defence, not a debt-discharge mandate, as settlements hinge on electronic bank money
The slides from my ‘Thinking like an MMTer’ talk at Warren’s Book Launch event
Our new paper explores the fundamental disagreements between Modern Monetary Theory and Post-Keynesian economics, arguing they stem from deep-seated ontological differences
Exploring the role of taxation in the UK’s monetary system, this article examines HMRC’s enforcement powers, and the physical limits of tax collection
Understanding deposits, reserves, and capital reveals some uncomfortable truths
The banking system throws up many surprises — one of them is how savers inadvertently trap borrowers