Mentions
What was said, and which frame it usedEvery item the dashboard counts, newest first. The marked words are the phrases that made it count; the tags say whether it used an opposing frame, an MMT-consistent idea, or named MMT. These are keyword matches: whether an item endorses or attacks an idea is shown once our classifier's accuracy is published.
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International Update
…sel prices have hit £2 a litre for the first time ever. Against that backdrop, the Chancellor will deliver a Budget in two weeks. The Institute for Fiscal Studies has said that there is a £35 billion black hole in the public finances. More borrowing or more taxes are on the way, because we know that the Prime Minister will not cut spending. This is at a time when families and businesses are already suffering under the weight of £70 billion in Labour’s tax rises. So what has the Prime Minister chosen to focus on today? Brexit. His exact words earlier this year were that “the last thing we sho…
- Opposing frame: Fiscal black hole
- Opposing frame: How will you pay for it?
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Employment Support: Young People
…this House. As I have said, we are putting forward an additional £2.5 billion of investment in the youth guarantee and the growth and skills levy. We have recently announced that we are expanding the jobs guarantee to help eligible young people receiving health-related benefits. They should not be signed off and written off. Another point raised in her question is that too often in these debates, young people are attacked in a negative narrative in which they are described as “snowflakes” and “shirkers”. She is right to say that, given the chance, young people want to work, want to have a fu…
- MMT-consistent idea: Job guarantee
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Employment Support: Young People
…part of the youth guarantee. They bring together employment and skills, with wider support that often involves housing and health advice. They are an important feature of the Dutch system, where the NEET rate is one third of ours. We are expanding the network to over 360 locations across Great Britain, and the whole idea is to get the help that a jobcentre can provide out of the jobcentre and into the community. There are also other important parts of the youth guarantee, such as hiring bonuses, an extra 300,000 work experience places and a jobs guarantee for the long-term young unemployed.
- MMT-consistent idea: Job guarantee
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Topical Questions
Birmingham has been piloting a jobs guarantee scheme since April. An employment roundtable that I ran in Selly Oak saw lots of young people who lack confidence in their communication skills to enable them get back into work after being on universal credit for 18 months. Will the Secretary of State commit to publishing how many pilot participants are still in work once the six months is over?
- MMT-consistent idea: Job guarantee
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Topical Questions
I am grateful to my hon. Friend; I enjoyed the visit to his constituency a few weeks ago to support young disabled people. He is right in what he says about long-term youth unemployment. That is why we have the jobs guarantee, and we will publish a full evaluation of its effects.
- MMT-consistent idea: Job guarantee
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Employment Support: Young People
…tional £2.5 billion, as part of the youth guarantee, to create up to 500,000 opportunities to earn and learn over the next few years, and we have begun to roll this out across Great Britain. The gateway to the youth guarantee is available in jobcentres. We are expanding youth hubs, we have launched the £3,000 youth jobs grant, and we are rolling out the jobs guarantee for young people who are long-term unemployed. I recently met the first beneficiaries of the jobs guarantee at Boots headquarters in Nottingham and saw the huge difference that having a job made to the young people taking part.
- MMT-consistent idea: Job guarantee
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A Review of Modern Monetary Theory: From Foundations to Policy Proposals
The paper traces the intellectual foundations of MMT through chartalism, the credit theory of money, Keynesian economics, and functional finance. It examines the concept of monetary sovereignty and analyses the operational relationship between government spending, taxation, public debt, central banking, interest rates, and sectoral balances. It also explores the distinction between vertical and horizontal money, the concept of fiscal space, and the extent to which real resources, productive capacity, and inflation constrain public spending.The review considers MMT's principal policy proposal…
- MMT-consistent idea: Currency issuer
- MMT-consistent idea: Functional finance
- MMT by name: MMT by name
- MMT-consistent idea: Real resource limit
- MMT-consistent idea: Sectoral balances
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A Proposal for Modeling Macroeconomics by Integrating Modern Monetary Theory into a Complexity Economics Framework
In this paper, we introduce a novel proposal for modeling macroeconomics that incorporatesthe findings of Modern Monetary Theory (MMT) into the developing field of ComplexityEconomics (CE). MMT provides an understanding of the monetary and fiscal institutionswhich frame the behavior of economic actors. CE provides an alternative vision to conventional economics, undermining several standard assumptions, such as perfect rationality,representative agents or equilibrium.In our proposal, the State is a key driver of economic activity in its role as the monopolist ofthe currency, while each econo…
- MMT-consistent idea: Currency issuer
- MMT by name: MMT by name
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Heathrow’s third runway is a bottomless money pit. Stop it now
It won’t promote growth, will take decades and will swallow up billions of taxpayers’ money, says Guardian columnist Simon Jenkins Infrastructure sends politicians berserk. Propose more money for the health service or reopening youth clubs and frowns break out all round. Can we afford it? But shout infrastructure and cheers go up. The word suggests glamour, chest-beating and “growth”. Reason flies out of the window. The saga of Heathrow’s third runway beggars belief. A foreign-owned private company wants to make more money out of its cramped west London investment. The airlines are sceptical…
- Opposing frame: Fiscal black hole
- Opposing frame: Taxpayers' money
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Badenoch’s inheritance tax gambit makes no economic sense
The Tory leader’s proposal to slash the tax would shovel £6bn of taxpayer money to the already-wealthy Kemi Badenoch’s inheritance tax gambit is a Conservative classic. After all, it was George Osborne’s high-profile pledge to “take the family home out of inheritance tax” in 2007 that put Gordon Brown off calling a snap general election. In practice, Osborne’s plan involved a £1m threshold for inheritance tax – and given the global financial crisis had blown a hole in the public finances by the time the Conservative-Lib Dem coalition came to power in 2010, it never came to pass. But the promi…
- Opposing frame: Taxpayers' money
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Couples would be able to leave £1m and family home exempt from inheritance tax under Tories, says Badenoch – as it happened
…ritish. “We are not like them. We are different. We are the Conservative Party.” But apart from that, it was a long, rather disconnected lecture setting out the case for a Tory party that believes in living within our means against a Labour Party that wants to tax, spend and borrow. From Steve Richards, the writer and broadcaster A well delivered speech from K Badenoch.. but sums don’t remotely add up in her ‘something for everyone’ speech..and the ‘something’ was largely targeted at a few wealthy voters. She’s right to rule out any deal with Reform..but that means her future depends on Refo…
- Opposing frame: Household budget
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Modeling the Economy as a Complex Adaptive System: A Multi-Agent Approach
…ium dynamics, institutional rules, bounded rationality, and adaptive behavior. Particular attention is given to the integration of monetary and fiscal institutions, including insights associated with Modern Monetary Theory (MMT), while distinguishing institutional modeling from adopting MMT as a theoretical conclusion. The paper also discusses methodological requirements for calibration, validation, sensitivity analysis, and policy experiments. The proposed framework emphasizes the study of how macroeconomic regularities emerge, persist, and break down through interactions among heterogeneou…
- MMT by name: MMT by name
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As it happened: Israel condemns Green party passing ‘Zionism is racism’ as a ‘stain on history of UK’
…incredibly wealthy” people, Badenoch switched the subject to the amount spent on benefits for people not working She replied: This policy is about people at that cliff edge. What is not a good use of taxpayers money is paying thousands and thousands of people who can work, not to work. Kemi Badenoch recorded her interview with Laura Kuenssberg yesterday. It is playing out on the programme now. In it, Badenoch defended her plan to extend free childcare to high earners. (See 9.08am.) She said: What we want to see is that people who work harder don’t get punished for doing so. If you earn £100…
- Opposing frame: Taxpayers' money
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THE EL-RAKHAWI THEORY: MACROECONOMIC EQUILIBRIUM IN THE AGE OF ARTIFICIAL INTELLIGENCE, STICKY INFLATION, AND GEOPOLITICAL FRACTURES
…gnty via CBDCs, and the Climate-Finance Nexus. Uniquely, it anchors these in a Core Equilibrium Equation and Behavioral Feedback Loop, proving stability requires taxing algorithmic efficiency, pricing climate risk, and managing digital trust. It rigorously debunks Modern Monetary Theory and strict Neoclassical austerity as fatal today. Dedicated to his parents, Ferial and Kamal, and children, Mostafa and Sabrinal, this work gives policymakers actionable tools, like the El-Rakhawi Resilience Index, to secure sustainable 3.4 percent global growth and preserve human dignity in an uncertain age.
- MMT by name: MMT by name
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Greens would nationalise Thames and SE Water without paying compensation, says deputy leader – as it happened
…we need to distinguish between legitimate political argument from the denigration of whole communities. Ali says democracy “means very little without economic security” and launches into announcing a job guarantee for young people, if the Greens were to be in power. There are 1 million young people in the UK – roughly one in every seven British people aged 16-24- who are categorised as a Neet (not in education, employment or training). He notes this crisis, and says current policies – threatening to withold or cut welfare payments like universal credit if people don’t accept short-term work…
- MMT-consistent idea: Job guarantee
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Electronic money and digital tenge: a comparative analysis of the economic nature, emission patterns, and regulatory implications
…their emission mechanisms are considered. The regulatory consequences of their implementation are analyzed. The scientific significance of the work consists in clarifying the categorical apparatus of modern monetary theory. Conceptual contradictions in the interpretation of the digital tenge as a new form of national currency have been identified. It is proved that, by its economic nature, the digital tenge largely reproduces the features of non-cash electronic money. The value of the research lies in developing a systematic approach to evaluating digital forms of money. Their legal regime a…
- MMT by name: MMT by name
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Rightwing economic myths could derail Burnham’s project – to destroy them, look to Keynes
…king the size of the state. As with “maxing out the credit card”, it forms part of the inquisition every time a minister goes on the TV or radio with a new spending measure: “That’s all very well but how are you going to pay for it?” Burnham is committed to re-industrialising Britain, but to do so he will have to break with the neoliberal convention that it is not the job of the government to pick winners. As the prime minister should point out, China, Japan, Taiwan and South Korea have all built up their manufacturing strength by picking winners, and Britain could do the same. Indeed, the o…
- Opposing frame: How will you pay for it?
- Opposing frame: Maxed-out credit card
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Post-pandemic inflation: A look through the lens of modern monetary theory (MMT) and mainstream economics
…eveloped countries in the post‑COVID‑19 period. Objectives. To critically assess the effectiveness of traditional monetary instruments (interest rate hikes) versus alternative fiscal approaches under Modern Monetary Theory (MMT) in the context of post‑pandemic inflation. Methods. A comparative historical and economic analysis is applied, using empirical data from the USA, Europe, and Japan, along with a decomposition of inflationary factors according to A. Shapiro’s methodology. Results. It was found that traditional monetary instruments proved to be largely ineffective against inflation dri…
- MMT by name: MMT by name
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‘Visible and engaged’: Burnham in listening mode with businesses at Labour party conference
…ay about the budget, despite striking a markedly different tone to Burnham’s “in hock” comment from a year earlier – insisting that he and the prime minister were “in lockstep” in their commitment to balance the books. “There is nothing progressive about losing control because it’s always working people who pay for it,” he said. Shevaun Haviland, the director general of the British Chambers of Commerce, said Healey’s speech was “significant” because the chancellor had acknowledged that private enterprise was vital for helping the UK economy to grow. However, she warned that companies still f…
- Opposing frame: Household budget
- Opposing frame: Taxpayers' money
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Shabana Mahmood says Labour party wants to create ‘fairness in our immigration system’ – as it happened
…he Labour MP Liam Byrne still gets criticised for the note he left in the Treasury after the 2010 election to his Tory successor saying “there is no money”. The note (often wrongly remember as saying there is no money left) was a joke, written when Byrne expected to be succeeded by a Tory with whom he had a friendly relationship, but the Lib Dem David Laws got the job instead. Laws gave it George Osborne and David Cameron and they spent years quoting it as alleged proof that Gordon Brown had bankrupted the country. In his speech today John Healey used a similar line. I did not quote it earli…
- MMT-consistent idea: Deficit myth