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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A Radical ‘Econ 101’ Principles of Macroeconomics Course
…derlying value systems, c) A ‘Demand and Cost Model’ (DCM) that is more realistic for most of the production economy than the ‘Supply and Demand Model’ (SDM), d) Negative and positive applications of Modern Monetary Theory (MMT) in expanding public money in recent decades, e) Aggregate Demand (AD) and Aggregate Cost (AC) models that are more realistic than the NC AD/AS formulation, f) Hudson and Keen Neo-Rentierist, more realistic, extensions of standard NC based NIPA (National Income and Product Accounts) accounting, g) A Kaleckian class-based macroeconomic model that is more realistic than…
- MMT by name: MMT by name
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AS CONTRIBUIÇÕES DE ROLANDO ASTARITA PARA A RECUPERAÇÃO E ATUALIDADE DA TEORIA MONETÁRIA DE MARX
…tional monetary system. In section two, I address Astarita's critique of the Quantity Theory of Money. In section three, I discuss the exchange rate. We conclude by focusing on Astarita's critique of Modern Monetary Theory (MMT). ABSTRACT This work aims to present, through the elaborations of the Argentinian economist Rolando Astarita, the contemporary relevance of Marx's monetary theory. To this end, this article is divided into four sections. The first section discusses the concept of money in Marx, the monetary importance of gold, and how it remains the fundamental store of value under ca…
- MMT by name: MMT by name
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A context-driven approach to endogenous money: from instruments to systems
This paper advocates for a context-driven approach to endogenous money theory, building critically on Victoria Chick's contributions.We first revisit the debate between horizontalists and structuralists, showing that common grounds exist, at least in part.We then revisit the debate between the revolutionary and evolutionary approaches, showing that both share common limitations: a market-centric reading of monetary history and a tendency to generalize from stable, developed economies.The revolutionary claim that money creation has been universally endogenous faces significant difficulties whe…
- MMT-consistent idea: Currency issuer
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Fiscal Outlook
…Labour decisions have weakened growth, dug us deeper into the debt hole and increased our fiscal vulnerability. What is needed is a plan to control spending and strengthen the underlying budget so we live within our means, bear down on inflation and the cost of our debt, and, above all, get the economy growing faster. But the Government’s actions have produced the reverse of all that. Let us look at spending. I was intrigued to hear the Chancellor say on Monday: “Staying true to our values means being honest about the need to control government spending”. For a moment, I thought I was listen…
- Opposing frame: Household budget
- Opposing frame: Maxed-out credit card
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Fiscal Outlook
…London down the road, they are looking at nearly £3 trillion of our national debt, our rising debt interest and our shrinking fiscal buffer, and asking whether we as a nation have a credible plan to live within our means. Here, down the Corridor in the other place, in the City of Westminster, are 403 Labour MPs, many demanding that the Government spend more, tax more, borrow more or, at the very least, do not spend less. Many of those MPs understandably argue that: indeed, it is what brought them into politics. Plaudits to them; they are standing up for their convictions and beliefs. They b…
- Opposing frame: Household budget
- Opposing frame: Maxed-out credit card
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Fiscal Outlook
…other growth-driving infrastructure—also in some pump-priming, which the noble Lord, Lord Howell, was encouraging us to think about. Taking this approach is responsible: it means the Government will balance the books with a buffer to protect against uncertainty, will control borrowing, and will reduce long-term pressures on our public finances. As the Chancellor said, there is nothing progressive about spending £1 in every £10 on debt interest. I thought the speech by the noble Baroness, Lady Morrissey, was a classic speech from the House of Lords of such insight and expertise about how the…
- Opposing frame: Household budget
- MMT-consistent idea: Deficit myth
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Fiscal Outlook
…approaching £3 trillion. Yet he has already run up a potential bill of more than £50 billion while proposing further uncosted public ownership. Nationalising water alone could cost some £140 billion. Where will the money come from? Will the Prime Minister break his pledge and Labour’s manifesto commitment not to raise taxes? The tax burden, as we have heard before, is already at a record high. Any further increases will discourage hiring, investment and entrepreneurship and accelerate capital flight. Some 27,300 high net worth individuals and 6,000 business owners have left Britain in the la…
- Opposing frame: Fiscal black hole
- Opposing frame: How will you pay for it?
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Railways Bill
I beg the Committee’s pardon: I got slightly muddled because of changes to the groupings. I come to my Amendments 60, 64A, 83, 84, 87, 94, 124, 125 and 291. The central issue running through these amendments is accountability. We are creating an enormous, new, publicly owned organisation that will, in all likelihood, receive billions of pounds of taxpayers’ money and exercise extraordinary control over the railway. It therefore needs clear objectives, measurable performance indicators and consequences for when it fails to deliver. Amendment 60 addresses the funding objectives. As drafted, the…
- Opposing frame: Taxpayers' money
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Ukraine and Russia
…me reprioritisation to make sure we are prioritising the activities that will provide most impact at this point in time. I acknowledge, however, that one of our responsibilities as a Department is to live within our means. One discipline I have to bring to the Ministry of Defence, drawing on my experience at the Department of Health and Social Care and the NHS, is to ensure there is no culture of routine overspending, that we are improving productivity, that we deliver value for money and that we recognise that the money we are investing in defence comes with choices and trade-offs that appl…
- Opposing frame: Household budget
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Job Support: Public Procurement
I am grateful to my hon. Friend for bringing the important work of Together Gloucestershire to the House’s attention. It is an excellent example of where social value can ensure that British taxpayer’s money is directed towards delivering British jobs and skills in our constituency. I will ask the Minister and our officials to meet with my hon. Friend and businesses in his constituency.
- Opposing frame: Taxpayers' money
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Sustainability and fiscal policy: bridging economic frameworks for global equity and ecological balance
…ms with ecological integrity and social equity. This paper explores six major sustainability-oriented economic frameworks: Green Growth (GG), Degrowth (DG), Post-Growth (PG), Doughnut Economics (DE), Modern Monetary Theory (MMT), and the Sustainable Development Goals (SDGs). It addresses the question of whether these frameworks can be combined to provide a consistent and comprehensive basis for fiscal policy implementation to enable a just transition. Through a comparative analysis, the paper examines these frameworks’ vision of the economy, their relationship to growth, the role of the stat…
- MMT-consistent idea: Functional finance
- MMT by name: MMT by name
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‘A completely unique opportunity’: the secretive process that will decide the BBC’s future
…changing technology and changing habits. Year on year, fewer and fewer people are using the BBC, and fewer and fewer people are paying for it. Hundreds of millions of pounds in cuts are under way to balance the books. This charter renewal is its only chance to turn back those tides. And yet in my interviews with 30 experts and BBC and government insiders over the past year, most struggled to tell me exactly what the charter is. One former director general told me simply: “The charter is … the charter.” Part of the difficulty of comprehending the charter lies in the difficulty of grasping th…
- Opposing frame: Household budget
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Pharmacies: Government Funding
…ly available to community pharmacies. There is a strong feeling among local branches that the extraordinary contribution pharmacies made during the pandemic has been forgotten. They are struggling to balance the books, as a number of Members have explained. Community pharmacy funding has fallen substantially in real terms over the past decade. The Government’s recent funding settlement is a welcome step in the right direction, with significant increases announced for ’24-25 and ’25-26 and continued support for services such as Pharmacy First, blood pressure checks and contraception, but we m…
- Opposing frame: Household budget
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Jaguar Land Rover: Redundancies
JLR’s plan to cut 4,000 jobs is devastating for workers, families and communities in Coventry and across the west midlands. JLR is based in my constituency and its highly skilled workforce is vital to our region’s economy and industrial future. The trade union Unite is right to demand urgent answers and for every alternative to job losses to be explored. The Business Secretary has now met JLR and Unite, so can the Minister tell the House what has actually been secured from JLR, a company that has already been granted £1.5 billion of public money? Will the Department publish the company’s plan…
- Opposing frame: Taxpayers' money
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NHS: Agency Medical Staff
My Lords, while the Minister talks about reduced agency spending, which is welcome, total temporary workforce costs remain largely unchanged, seemingly displacing into bank premiums, overtime and other insourcing. Will the Minister commit to publishing the total combined costs of flexible staffing, so that Parliament can judge whether taxpayers’ money is actually being saved or merely reshuffled within budget lines?
- Opposing frame: Taxpayers' money
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UK government pays highest interest rate on 30-year bond since 1998
…rate since the Debt Management Office, which is responsible for financing government borrowing, was established in 1998. Healey used a speech in Coventry on Monday to stress that he was determined to balance the books. Markets have been spooked by fears of a fresh rise in inflation after the resumption of the Middle East conflict increased oil prices, and investors fretting about the risks of rising public debt. When the Office for Budget Responsibility does its latest forecast before the budget on 28 October, higher interest rates on government borrowing are expected to wipe out at least ha…
- Opposing frame: Household budget
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Monetary Sovereignty and Catastrophe Fiscal Capacity: Turkey, Japan, and the Limits of Disaster Self-Insurance
Modern Monetary Theory (MMT) establishes that a government issuing its own floating-rate fiat currency faces no financial constraint on spending, only a real resource constraint. Yet the MMT literature has not systematically examined what this distinction implies for a sovereign’s capacity to absorb catastrophe losses, the fiscal shock that arises when a major natural disaster strikes and uninsured costs fall on the state. The concept of catastrophe fiscal capacity, introduced here,: a sovereign’s ability to finance disaster recovery without triggering a currency crisis, an inflation spiral,…
- MMT-consistent idea: Currency issuer
- MMT by name: MMT by name
- MMT-consistent idea: Real resource limit
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Israel and Palestine
During the debate in this House on 9 July, I and other Members raised our concerns about charities working in the illegal Israeli settlements and, in particular, about the use of taxpayers’ money through gift aid contributions to those charities. As a result, I received a response from the Charity Commission for England and Wales sharing those concerns about the potential impact, including on public trust and confidence in the charity sector, of charities being seen to actively assist in the development or expansion of illegal settlements in Palestine. What more will the Foreign Secretary do,…
- Opposing frame: Taxpayers' money
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Public Sector Productivity
Public sector productivity is improving, with the NHS delivering 3.5% productivity growth in 2025-26, beating its 2% target. The Government will continue to drive public sector efficiency so that taxpayers’ money delivers the best possible public services. In addition, we are investing in AI adoption across the public sector to help realise the overall target of £14 billion of efficiencies by 2028-29, as agreed at the last spending review.
- Opposing frame: Taxpayers' money
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Topical Questions
…risen since the general election, but the hon. Gentleman is absolutely right to highlight that too few young people are getting the chance to move into work and to participate in education. That is exactly what the Milburn report is looking at, and I hope the hon. Gentleman will feed into that. However, we are not waiting for that report; the Government are already acting. That is what the jobs guarantee is doing, and why businesses that employ young people on universal credit will receive £3,000. It is right that there is a moral as well as economic imperative to get young people into work.
- MMT-consistent idea: Job guarantee