01359nam a22001577a 4500 514867 514867 201225b ||||| |||| 00| 0 eng d Baker, Andrew. and Murphy, Richard. 21888 Modern monetary theory and the changing role of tax in society Social Policy and Society 19(3), Jul, 2020: p.454-469 Theory (‘MMT’) presents a reversal of the tax-spend cycle, by identifying a spend-tax cycle. Using the UK as an example, we highlight that one of MMT’s most important, but under-explored, contributions is its potential to re-frame the role of tax from both a macroeconomic and social policy perspective. We use insights on the money removal, or cancellation function of taxes, derived from MMT, to demonstrate how this also creates possibilities for using tax to achieve social objectives such as mitigating income and wealth inequality, increasing access to housing, or funding a Green New Deal. For social policy researchers the challenge arising is to use these insights to re-engineer tax systems and redesign social tax expenditures (STEs) for creative social policy purposes. - Reproduced Tax, Modern monetary theory, Social policy, Modern tax theory, Money, Debt, Government 19853 Social Policy and Society MONETARY THEORY AR 0 0 ddc 0 0 388882 IIPA IIPA 2020-12-25 19(3), Jul, 2020: p.454-469 AR123746 2020-12-25 AR