The New Economics Foundation (NEF) is a British ‘think tank’, which promotes economic and ecological justice. NEF has been the UK’s leading research organisation for money, credit and complementary currencies since 1986. www.neweconomics.org

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  Modern Money Theory claims to be the first empirically supported account of how the modern “fiat” money system works. According to MMT, non-cash commercial bank loans are promises to pay which, by their very nature, are not subject to money supply constraints. MMT’s view of how the credit mechanism works has since been confirmed […]

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