Libertarians + MMT (Modern Monetary Theory)
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libertarian-mmt.bsky.social
Libertarians + MMT (Modern Monetary Theory)
@libertarian-mmt.bsky.social
18 followers 16 following 140 posts
Welcome to the best MMT-centered content stream on Bluesky! A one-stop shop for economics, political economy, geopolitics and current events. High level analysis and clear-eyed perspective, with sights on a post-neoliberal world.
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libertarian-mmt.bsky.social
"One of the important issues to address here is a theoretical underpinning... especially issues around #probability and #uncertainty, since money is created with the expectation of fulfilling obligations in the future...."

#MoneyCreation #entropy

dougaldlamont.substack.com/p/the-money-...
The Money Function, Part 2: The Other Side of Entropy
A Philosophy of Money Creation as Information & Control
dougaldlamont.substack.com
January 18, 2026 at 3:51 PM
libertarian-mmt.bsky.social
"The #PoliticsOfCare represents a fundamental reimagining of the purpose and practice of democratic government.

At its core, the politics of care asserts that the primary obligation of any government is to meet the needs of those entrusted to its care...."

www.taxresearch.org.uk/Blog/2026/01...
Glossary entry: the politics of care
I said yesterday that the team here has decided that the focus of our work must now be on the creation of a politics of care, and the necessary economics that will support and help deliver a programme...
www.taxresearch.org.uk
January 15, 2026 at 2:13 PM
libertarian-mmt.bsky.social
"As is clear from multiple media reports, the dispute between the Trump administration and the US #FederalReserve... has escalated sharply, with its chair, #JeromePowell, now being threatened with criminal indictment..."

#MMT

www.taxresearch.org.uk/Blog/2026/01...
Trump and the Fed: an MMT perspective
As is clear from multiple media reports, the dispute between the Trump administration and the US Federal Reserve (which is the US equivalent of the Bank of England, and is the US central bank) has esc...
www.taxresearch.org.uk
January 13, 2026 at 4:57 PM
libertarian-mmt.bsky.social
"... control of the global oil trade is a core instrument of U.S. power, underpinning dollar-based finance and coercive diplomacy...."

#petrodollar

michael-hudson.com/2026/01/how-...
How Washington Uses Energy as a Weapon | Michael Hudson
The global oil trade is a core instrument of U.S. power, underpinning dollar-based finance and coercive diplomacy.
michael-hudson.com
January 13, 2026 at 4:52 PM
libertarian-mmt.bsky.social
"As anyone who has ever been responsible for legislative oversight of #CentralBankers knows, they do not like to have their authority challenged. Most of all, they will defend their mystique..." #MMT

www.thedailystar.net/opinion/view...
Who’s Afraid of MMT?
As anyone who has ever been responsible for legislative oversight of central bankers knows, they do not like to have their authority challenged.
www.thedailystar.net
January 13, 2026 at 4:30 PM
libertarian-mmt.bsky.social
"At a moment when the #NiskanenCenter mission feels especially urgent, we are guided by the conviction that America’s greatest challenges can be met not by abandoning our #institutions but by renewing them...."

www.niskanencenter.org/institutiona...
Institutional renewal. Effective government. Prosperity. - Niskanen Center
At a time when some of our most fundamental institutions are under attack, we believe that the most effective defense lies in recognizing their real and serious flaws while offering specific, construc...
www.niskanencenter.org
January 13, 2026 at 3:06 PM
libertarian-mmt.bsky.social
".... the #ErichFromm Question: If we can see that modern society is making people anxious, isolated and psychologically unwell, what are we going to do about it, and why does our political economy seem incapable of even asking the question?..."

www.taxresearch.org.uk/Blog/2026/01...
Economic questions: the Erich Fromm Question
This is one of a series of posts that will ask what the most pertinent question raised by a prominent influencer of political economy might have been, and what the relevance of that question might be ...
www.taxresearch.org.uk
January 12, 2026 at 2:06 PM
libertarian-mmt.bsky.social
"Yves here. Trump’s latest power play may prove to be another backfire. Astonishingly, the Trump Administration is pursuing criminal charges against Fed chair Jerome Powell...."

#Powell #FedIndependence

www.nakedcapitalism.com/2026/01/just...
Justice Department Subpoenas the Fed, Threatens Powell with Criminal Indictment. Powell Comes out Swinging. Stock Futures Tank | naked capitalism
Trump pursues another own goal by escalating with Fed chair Powell over his refusal to lower interest rates by launching a criminal probe.
www.nakedcapitalism.com
January 12, 2026 at 2:01 PM
libertarian-mmt.bsky.social
".... For the government and banks, the basic legal process of creating money is the same - with a contract that creates new money with legal conditions for how it is to be used, and for how the contract is to be fulfilled...."

#MoneyCreation #DoubleEntry

dougaldlamont.substack.com/p/modernizin...
Modernizing the Bank of Canada’s Monetary Policy is the Single Most Important Thing We Can do to fix Canada's Economy
William White’s Predicted the Global Financial crisis when no other central bankers saw it coming. He's said the next crisis could be worse.
dougaldlamont.substack.com
January 11, 2026 at 7:06 PM
libertarian-mmt.bsky.social
".... unless you get double-entry, you cannot understand money or the economy. It really is that straightforward...."
#DoubleEntry #MoneyCreation #Debt #Money

www.taxresearch.org.uk/Blog/2026/01...
Keen’s Law
Steve Keen wrote this on Substack yesterday: YouTube popped a video into my feed of Niall Ferguson (the author of The Ascent of Money: a financial history of the world) being interviewed on the TRIGGE...
www.taxresearch.org.uk
January 11, 2026 at 3:34 PM
libertarian-mmt.bsky.social
"... the #WynneGodley Question: If the financial balances of the economy must add up, and governments can see this in advance, why do they continue to pursue policies that make #crises inevitable and then pretend to be surprised when they arrive?..."
#deficit
www.taxresearch.org.uk/Blog/2026/01...
Economic questions: the Wynne Godley question
This is one of a series of posts that will ask what the most pertinent question raised by a prominent influencer of political economy might have been, and what the relevance of that question might be ...
www.taxresearch.org.uk
January 9, 2026 at 1:16 PM
libertarian-mmt.bsky.social
"Another great video from #SteveKeen and #RichardMurphy, who have done stellar work in demystifying the fallacies of mainstream economics with facts, evidence and being sure to chase down and iron out the inconsistencies...."
substack.com/@dougaldlamo...
Dougald Lamont (@dougaldlamont)
Another great video from @Steve Keen and @Richard Murphy, who have done stellar work in demystifying the fallacies of mainstream economics with facts, evidence and being sure to chase down and iron o...
substack.com
January 9, 2026 at 5:07 AM
libertarian-mmt.bsky.social
"The United States is openly threatening to take Greenland, a self-governing territory linked to Denmark and therefore to NATO.
That creates a crisis no one planned for. What happens when a NATO member threatens another NATO member?..."
#NATO #Greenland
www.taxresearch.org.uk/Blog/2026/01...
Is NATO about to collapse?
The United States is openly threatening to take Greenland, a self-governing territory linked to Denmark and therefore to NATO. That creates a crisis no one planned for. What happens when a NATO member...
www.taxresearch.org.uk
January 8, 2026 at 2:13 PM
libertarian-mmt.bsky.social
"American diplomats are not going to come right out and say, here’s our strategy, to force you to make sacrifices... to promote America first. And your countries, Germany, European countries, Japan, South Korea, are also supposed to put America first..."
michael-hudson.com/2026/01/dein...
Deindustrialisation Meets Coercion | Michael Hudson
Michael Hudson argues the new US national security strategy marks a reversal of the post-1945 economic order: from multilateral rules to coercion
michael-hudson.com
January 8, 2026 at 2:10 PM
libertarian-mmt.bsky.social
"... In any economy, total financial surpluses and deficits must balance. One sector's surplus is necessarily another sector's deficit. This is not a theory or a policy preference. It is an accounting identity that holds at all times...."
#SectoralBalances
www.taxresearch.org.uk/Blog/2026/01...
Glossary entry: sectoral balances
I posted this new glossary entry yesterday afternoon. I was astonished to find I had not written an entry on sectoral balances before now, so I made good the deficit. Sectoral balances describe a ma...
www.taxresearch.org.uk
January 7, 2026 at 2:32 PM
libertarian-mmt.bsky.social
"...is there a relationship between the size of government debt and the trade deficit?...."

#SectoralBalances #TradeDeficit #FiscalDeficit

www.taxresearch.org.uk/Blog/2026/01...
Are government debt and trade deficits linked – and does it matter?
I was asked this question on the blog yesterday by Anja Cradden: I have a slightly related, slightly tangential question… is there a relationship between the size of government debt and the trade defi...
www.taxresearch.org.uk
January 7, 2026 at 1:21 PM
libertarian-mmt.bsky.social
"I was part of a roundtable session on the Trump economic program. Other panelists included James K. Galbraith, Darrick Hamilton, and Gary Dymski... These were my opening comments:..."

#Economics #deficit
stephaniekelton.substack.com/p/my-brief-r...
My Brief Remarks at the Annual ASSA Meeting
Today is the final day of the Allied Social Science Association’s (ASSA) annual meetings.
stephaniekelton.substack.com
January 7, 2026 at 1:13 PM
libertarian-mmt.bsky.social
"Why is infrastructure crumbling, care failing, and democracy under strain?... #capital is not just money. It is the accumulated stock of #financial, #physical, #environmental, #human, and #societal resources that make future well-being possible...."

www.taxresearch.org.uk/Blog/2026/01...
Capital is not just about finance
Why is infrastructure crumbling, care failing, and democracy under strain? In this video, I explain two concepts that quietly shape everything around us and help us answer this question. They are capi...
www.taxresearch.org.uk
January 5, 2026 at 2:07 PM
libertarian-mmt.bsky.social
Project Syndicate published an article by Simon Johnson and Piero Novelli about a month ago in which they discussed AI.... What it says, in itself, is that there is nothing positive to be gained from the use of AI."
#AI #Employment #JobLosses
www.taxresearch.org.uk/Blog/2026/01...
AI on the scale now envisaged will create a recession on a scale hard to imagine
Project Syndicate published an article by Simon Johnson and Piero Novelli about a month ago in which they discussed AI. This is a recurring theme of mine right now, because it is becoming increasingl...
www.taxresearch.org.uk
January 4, 2026 at 4:22 PM
libertarian-mmt.bsky.social
"Looking back on a markedly tumultuous year in American politics—and a few months forward to the 250th anniversary of the Declaration of Independence—we might well dub 2025 “the year of the jury.”
#Jury #Constitution
www.cato.org/blog/year-jury
The Year of the Jury
On the eve of the 250th anniversary of the Declaration of Independence, citizen jurors remind us why they are the ultimate check against oppressive goverment.
www.cato.org
January 4, 2026 at 3:56 PM
libertarian-mmt.bsky.social
".... Mexico’s eight year experiment with minimum wage increases has had a significant net positive effect on the incomes of millions of Mexican workers...."
#MinimumWage

www.nakedcapitalism.com/2026/01/how-...
How Mexico More Than Tripled Its Minimum Wage in Eight Years Without Triggering the Economic Disaster Many Had Predicted | naked capitalism
Yet more evidence that improving the lot of those at the very bottom of the income ladder does not necessarily produce unemployment or runaway inflation.
www.nakedcapitalism.com
January 3, 2026 at 5:23 PM
libertarian-mmt.bsky.social
'Yves here. We’ve often discussed the fact that “free markets” is a myth... market operations are failing in late-stage capitalism and some suggestions as to how to replace neoliberal ideology and systems.'
#FreeMarket #RichardMurphy
www.nakedcapitalism.com/2026/01/ther...
There Are No Free Markets | naked capitalism
Neoliberal free market ideology was always a fantasy. But what comes next given the late stage capitalism breakdown?
www.nakedcapitalism.com
January 2, 2026 at 2:25 PM
libertarian-mmt.bsky.social
"Financial capitalism

describes a form of capitalism in which the ownership, control, and accumulation of financial assets dominate economic decision-making, social priorities, and political power...."
#FinancialCapitalism #RentSeeking
www.taxresearch.org.uk/Blog/2025/12...
Glossary entry: financial capitalism
When writing a post on comment in the Guardian this afternoon, I realised that my glossary entry on financial capital was insufficient to encompass the madness of financial capitalism, financialisatio...
www.taxresearch.org.uk
January 1, 2026 at 4:46 PM
libertarian-mmt.bsky.social
"Richard Feynman was not merely a great physicist; he was one of the most relentless critics of fake knowledge ever... you do not understand something unless you can explain it simply and show that it works in the real world."
#RichardFeyman #Teaching #Learning
www.taxresearch.org.uk/Blog/2025/12...
Economic questions: the Richard Feynman question
This is one of a series of posts that will ask what the most pertinent question raised by a prominent influencer of political economy might have been, and what the relevance of that question might be ...
www.taxresearch.org.uk
December 31, 2025 at 4:46 PM
libertarian-mmt.bsky.social
"Capital only has economic meaning if it is maintained. Capital maintenance concepts... determine what may legitimately be consumed, distributed or taxed without undermining future economic capacity...."
#Capital #Economics
www.taxresearch.org.uk/Blog/2025/12...
Glossary entry: Capital maintenance concepts
Capital only has economic meaning if it is maintained. Capital maintenance concepts define the boundary between income and capital preservation, and therefore determine what may legitimately be consum...
www.taxresearch.org.uk
December 30, 2025 at 4:01 PM