MMT work in support of the climate movement
The scope of MMT work in support of the climate movement proves that the climate movement finds a natural economic ally in MMT Modern Monetary Theory highlights that almost all nations have more fiscal space (AKA government spending power) than they currently use. This simple observation supports the climate movement's demand for stronger government action, particularly from governments in the Global North. MMT's support for stronger climate action is both historic and broad. Below are twelve examples of the connection between MMT and the climate movement. The scope of MMT work in support of the climate movement Finding The Money [...]
Assumptions about government finances are stymying the climate response
Assuming that governments are financially constrained—rather than resource-constrained—stymies the climate response. Given the urgency with which states must mobilise to mitigate and adapt to the ecological crisis, we must develop and share a better understanding of government finances if we are to secure a prosperous future. Economist Stephanie Kelton uses the phrase ‘learned helplessness’ to describe the self-imposed, ideological constraints that governments that issue and tax in their currency, have minimal foreign currency debt, and operate a floating exchange rate, place on their spending. Nowhere is this more obvious than in state action to mitigate and adapt to our ecological [...]
The MMT lens for an independent Scotland and Wales
Warren Mosler uses the MMT lens to explain how both Scotland and Wales can enact progressive policies once they are separate from the rest of the United Kingdom In late August 2025, Warren Mosler, the founder of Modern Monetary Theory, delivered a landmark presentation in Cardiff. It was the first time he considered how his insights could be used to support the successful economic independence of both Wales and Scotland. "When you're trying to explain policy and what will work, what will be progressive, [mainstream assumptions are] a significant obstacle" - Warren Mosler. In sum, supporting policymakers in reframing and [...]
A Government Job Guarantee in a Wellbeing Economy
A Government Job Guarantee must be a central economic policy in a wellbeing economy and should be central to the next independence campaign. William Thomson's introduction to a Government Job Guarantee. Although the Job Guarantee is a macroeconomic policy designed to stabilise the economy, it has other appealing features. A job guarantee is a priority if we are to tackle the multiple crises we face today. These include inequality, the continual blight of poverty, and the ecological damage we have wrought on the earth. The job guarantee scheme embeds the government as the employer of last resort. The government [...]
30 things you know when you understand MMT
What is modern monetary theory is a question that requires a deep understanding and analysis of a school of thought. Modern Monetary Theory suffers from straw man syndrome. For some, it is much easier to construct a straw man version than to try to understand MMT. Below, I explode that strawman with 30 things you know when you understand MMT. What is Modern Monetary Theory? Straw man. Noun. An intentionally misrepresented proposition that is set up because it is easier to defeat than an opponent's real argument. Every idea, concept, or school of thought can be boiled down to its [...]
Currency in an independent Scotland
Scotland's decision on which currency to use post-independence is the most important decision we will make. This, more than any other economic decision, will shape our economic future. We put a case for a Scottish currency on day one of independence by listing some of the fundamental differences that affect a country as a user of a currency and a currency issuer. After a yes vote for Scottish independence, everyone agrees that initially, during the transition period, we will continue to use Sterling as our currency. But what happens next? What will be the currency in an independent Scotland? An [...]
Scotland in the EU the economic case has yet to be made
One of the major decisions affecting Scotland post-independence is whether or not it should join/re-join the European Union. The economic case has not been proved, it has not even been discussed. There is no doubt that Brexit had a huge and unnecessary negative impact on the Scottish economy. But this does not mean that being part of the EU is the solution. The economic case for European membership still has to be made. The case for Scotland as part of a single market is much stronger. The main economic difference between being part of the single market and the EU [...]