This is a transcript of the 1857 report that lead to the Exchequer and Audit Department Act of 1866, the law by which government payments are both regulated and permitted to this day. Although only five pages long it revolutionised the accounting, audit and payment systems in the United Kingdom.
An overview of the way MMT sees the government procurement process
Minting The Coin is one thing; Depositing The Coin entirely another
A set of reference taxation quotes from MMT economists
Basic income is a monetary illusion. Here’s how the trick is done and why it always fails.
A bit of multiplier maths so you can impress the neoliberals
Nothing shows up the bankruptcy of mainstream economic education more than its soundbites
It’s budget day here in the UK, and traditionally that means commentators write what they would do instead. Here’s the MMT view
There is no justification for paying public funds on government securities. Welfare payments should be democratically targetted, not market purchasable.
Precisely how Parliamentary authority to spend ends up as a payment in somebody’s bank account, including the banking transactions that occur across the Government Banking Service to make that happen.