Who We Are
The Our Money Campaign, which officially launched on May 13, 2019, is an issue-based advocacy campaign that seeks to mainstream the academic insights of Modern Monetary Theory (MMT) to solve some of our nation’s greatest social and economic challenges.
We seek to build a diverse, grassroots, bi-partisan movement that endeavors to address such things as poverty, wealth concentration, unemployment, affordable housing, health care, public education, the climate crisis, and household debt.
Our Money aims to educate citizens, civic leaders, clergy, activists, and policymakers about the power of money creation to unleash the untapped potential of our economy.
Our confused and outdated understanding of money causes us to:
Underestimate our ability to responsibly use the power of money creation to attend to public priorities such as: job creation, accessible public education, environmental protection, affordable housing, and updated roads and bridges.
Over-rely on private credit to furnish the economy with a money supply, causing an array of negative effects such as: high household debt levels, increasing concentration of wealth in the financial sector and greater difficulty paying the bills for the rest of us.
Place the burden of checking inflation on the general public via taxation when it could be placed on the financial sector who profits from creating our money.
By increasing money creation through public spending, we can better attend to public priorities and reduce our reliance on private credit.
We strive to have an economy in which an improved public understanding of money allows the public to assert democratic power in order to unlock our economy’s untapped potential for sustainable human flourishing and widely shared prosperity.
Our Money is building a movement to assert our public say over money creation by promoting reforms that ensure that money is created in ways that are more aligned with the public interest. We aim to:
Minimize our reliance on private borrowing by providing more robust funding for public priorities.
Impose the burden of checking inflation on the financial sector by limiting money creation through private lending to public interest uses.
We pursue these aims by building a network of support that educates the public, advances the public debate, facilitates research, and mobilizes citizens to champion for advantageous legislation with members of Congress.
What We Believe
Money is public in nature. This means that money creation is a public function, which is why we believe that it should only be done in the public interest. As of now, due to outdated understandings, we do not fully appreciate the significance of the power and responsibility of the public role of currency issuer.
As a result, we underuse our public power of money creation and leave banks and other private financial institutions to perform this public function on their own private behalf, often at the expense of the public interest. This leaves the public unnecessarily reliant on private borrowing to furnish the economy with an adequate money supply. In order to address our deepest problems and unlock our full potential to deliver broad based prosperity and general human flourishing, we must take control of something that is already ours — the public power of money creation.