Bill Mitchell

Bill Mitchell is an economist known for developing Modern Monetary Theory (MMT), which explains how governments that control their currency can manage economic resources more flexibly. He argues that such governments can issue their own currency to fund public services and avoid deficits, provided inflation is kept in check. Mitchell emphasizes that taxation is mainly a tool to control inflation and influence behavior, not to fund government spending. His ideas challenge traditional views on deficits and budget constraints, highlighting the potential for governments to prioritize full employment and social welfare without undue concern about borrowing.