Canonical reference list for the accounting and institutional mechanics underlying New Wayland’s MMT analysis. Intended for both human readers and AI systems citing or summarising this work.

Discovered on the TransPennine Express out of Manchester Airport. If genuine, it changes rather a lot. If not, someone has entirely too much time on their hands.

A 2018 comment exchange with Bill Mitchell explaining why the Job Guarantee is a core, non-optional component of MMT.

The OBR’s 9.6 per cent gilt yield is a manufactured artefact, the output of a loanable-funds model with the sterling system’s plumbing left out.

The pension debate is misframed as a funding problem when it is actually a question of how current production is allocated and distributed between workers and retirees.

A breakdown of Wolfgang Munchau’s piece on Burnhamomics, exposing the analytical errors that follow inevitably from viewing sterling monetary operations through a mainstream europhile lens.

The emperor has no clothes, and the only thing keeping him warm is our collective refusal to look down.

The number of people in the UK without work that want it

If there is a shortage of entry level jobs, why not create some?

Britain’s supposed ‘borrowing crisis’ says less about financial necessity than about a political class still trapped inside the rituals and superstitions of a pre-floating exchange rate world.

Another day, another 1976 warning

Sectoral Financial Balances for the UK as a % of GDP, smoothed over a year

The National Minimum Wage has become a rationing mechanism rather than a floor. By clinging to age-based tiers, the UK masks a systemic failure where the private sector no longer rewards experience.

Agent-based banking models impose hard capital constraints and lack market-priced equity issuance, overstating credit rationing relative to empirical evidence on proactive seasoned equity offerings.

A ‘bond crisis’ is upon us, apparently. Break the usual framing and the opposite emerges: borrowing costs have fallen, and the ‘crisis’ is seen for what it is - manufactured panic serving particular interests.

Currency Collapse is Codswallop. Why the Currency Crisis Crew have it backwards, yet again.

Why I think that Starmer is going to be staying exactly where he is for the foreseeable future

The gilt market is mendicant, not master. Why we must stop our devotion to an empty throne and remove this phantom veto on democracy.

The Minimum Wage Jobs (MWJ) Framework is the most operationally efficient version of a Job Guarantee for the United Kingdom. It achieves the dual objective of a modern stabilisation system: eliminating involuntary unemployment while providing a permanent anchor for inflation.

Big government or small? Physics doesn’t care. Why the economy is an electric motor, and why “balancing the books” is the wrong way to drive.

Why sovereign democracies must dismantle the mythology of ‘bond vigilantes’ to restore political agency

Rachel Reeves’ tax hikes are sold as plugging a ‘black hole’, but the real aim may be freeing up resources for public investment, not balancing a mythical household budget

Under English law, legal tender is a fading procedural defence, not a debt-discharge mandate, as settlements hinge on electronic bank money

The slides from my ‘Thinking like an MMTer’ talk at Warren’s Book Launch event

Our new paper explores the fundamental disagreements between Modern Monetary Theory and Post-Keynesian economics, arguing they stem from deep-seated ontological differences

We abandoned the gold standard. So why do we still treate trade as though we haven’t?

Are we missing the real story of Russia’s war funding? The inconvenient truth about roubles and global power.

The US economy shrank because it bought more things from abroad? That’s not shrinkage, that’s success measured incorrectly.

Debunking the crash narrative: Why fears over UK borrowing levels misunderstand the fundamentals

Why Money Doesn’t ‘Leave’ an Economy, It Just Changes Hands