About 2 years ago, my eyes were opened to the modern way of understanding how governments use money, and I came to realise that for years we have all been told an utterly false version of Economics. A fairytale, really, that I used to believe as much as anyone. The modern understanding is mainly in the area known as Modern Monetary Theory (MMT).

I am not any kind of qualified economist, but on this blog I aim to explain the modern understanding of government finances in a way that everyone, I hope, can get hold of. For people who would rather go to the dentist than read an economics textbook. The pieces in this blog are usually a maximum 5-minute read.

This blog is for educational and campaigning purposes only, and is entirely non-commercial, non-profit-making.

To read more information from real professional economists, and others, please have a look at my links page.

You are welcome to submit guest posts, but please keep on topic! Please submit to thepoundinyourpocket@gmx.com.

I am grateful to my UK mentors (alphabetical order)Mike Hall, Prue Plumridge(gimms.org), and Malcolm Reavell (Modern Money Scotland) for inspiration, guidance, and my own education in this subject.

I am also grateful to David Vigar, Catherine York for support and editing suggestions, and to web developer Chris Hoar for sorting out some problems with the organisation of this blog.

Myself with Professor Bill Mitchell, leading authority on the modern understanding of fiscal policy, in Brighton September 2019. He’s the one on the right!undefined

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