Economic questions: the Stephanie Kelton question

Read this article by Richard Murphy about Stephanie Kelton‘s contribution to Modern Monetary Theory

https://www.taxresearch.org.uk/Blog/2025/11/20/economic-questions-the-stephanie-kelton-question/

Kelton’s core insight is not that governments should spend without limit, but that they can. The true limit to spending is the availability of real resources — skilled labour, energy, technology, materials — not the availability of money. Currency-issuing governments create money as a matter of routine when they spend. They delete, or cancel, money when they tax.