Several good first things to read, watch, and listen to, to introduce MMT (for the layperson, non-academic sources)

This post contains a variety of good first things to read, watch, and listen to, each of which provide a good (layperson) introduction to Modern Money Theory, or MMT. You certainly can read/watch/listen to them all, but any will do. Just pick one and go!

What is MMT? MMT is an accurate description of how our economy actually and already functions at the federal level. It replaces false financial constraints (debt!, deficit!!, China!!, inflation!!!* and HoWrEyOuGoNnAPaYFoRiT???), with real constraints: our ability to utilize human labor in order to obtain, produce, and do what we need to survive and thrive.

(*Inflation the Boogeyman, not inflation in reality.)

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This post was last updated October 23, 2020.

Disclaimer: I have studied MMT since February of 2018. I’m not an economist or academic and I don’t speak for the MMT project. The information in this post is my best understanding but I don’t assert it to be perfectly accurate. In order to ensure accuracy, you should rely on the expert sources linked throughout. If you have feedback to improve this post, please get in touch.

Good first things to listen to, in order to learn MMT

First and foremost, listen to the first three episodes of MMT Podcast with Patricia Pino and Christian Reilly, broadcast in April and May 2018:

  1. A hypothecated tax for the NHS?: Patricia and Christian explain why we don’t need a hypothecated tax for the NHS (the healthcare system in the U.K.: the National Health System), and why it’s so damaging to believe that we do.
  2. Monetary Sovereignty: What does it mean to be monetarily sovereign and why does it matter? Patricia and Christian discuss how some erroneous mainstream economic concepts are confusing us and undermining our understanding of world economic problems.
  3. Why we can always afford a war: Patricia and Christian discuss government ‘debt’ and explain why politicians never ask “how are you going to pay for it?” when it comes to war.

More: Warren Mosler on MMT Podcast: August 2019, episode 28: Sovereign Currency – A Beginner’s Guide

Good first things to read, in order to learn MMT

Good first things to watch, in order to MMT

Various quick recommendations: A three-minute video explainer of MMT by The Courier Mail. Here is a set of twenty-two short videos curated and edited by Deficit Owls, that serve as a great crash course for learning #MMT. A five minute video explainer from June 2020, by Stephanie Kelton, on the BBC.

Here is the video I recommend first and foremost: An excellent hour long lecture by economist Stephanie Kelton called Angry Birds and Deficits.

Link to video

A six-minute video explainer of MMT by Geoff Coventry‘s website, The Basics of Modern Money:

Link to video

A five-minute video introducing modern money from the U.K. point of view called, The Power of the Pound:

Link to video

“Modern Money Theory for Beginners.” Lecture by American economist L. Randall Wray.

Link to video

“Most Progressives are Neoliberals in Disguise.” Lecture by Australian economist Bill Mitchell.

Link to video

A 2018 introduction to MMT by lawyer and Modern Money Network president, Rohan Grey.

Link to video

A six minute montage-introduction to MMT. Edited by MMT Podcast co-host, Patricia Pino.

Link to video