More Resources
External Resources
Some additional resources you may like to use for further information. The Theory of Constraints is well established in business but has not been applied to a full economy in the way that Constraint Driven Macroeconomics has described. Monetary Sovereignty has much in common with Modern Monetary Theory (MMT). The below resources provide some additional insight into these two contributors to Constraint Driven Macroeconomics.
Theory of Constraints web sites and explainers
1. TOC Definition & Overview — Wikipedia
A thorough general introduction to the Theory of Constraints, its background, principles, and applications.
https://en.wikipedia.org/wiki/Theory_of_constraints
2. TOC Institute Overview
An authoritative overview of TOC concepts and Thinking Processes.
https://www.tocinstitute.org/theory-of-constraints.html
3. Lean Production – TOC Guide
A practical explanation of TOC principles and the Five Focusing Steps.
https://www.leanproduction.com/theory-of-constraints/
4. The Goal – Eliyahu M. Goldratt
The seminal management novel that introduced the Theory of Constraints.
https://en.wikipedia.org/wiki/The_Goal_(novel)
5. Theory of Constraints Handbook (PDF)
A comprehensive and technical collection of TOC principles and applications.
https://dlib.scu.ac.ir/bitstream/Hannan/320384/2/9780071665544.pdf
6. Goldratt Marketing – TOC Books
Official listing of books and extensions on TOC.
https://www.toc-goldratt.com/category/Theory-of-Constraints-Books
7. ClearPoint Strategy Guide to TOC
A business-oriented explanation of TOC concepts and constraint identification.
https://www.clearpointstrategy.com/blog/theory-of-constraints-guide
8. Splunk – Complete Guide to TOC
A modern interpretation of TOC and its core principles.
https://www.splunk.com/en_us/blog/learn/theory-of-constraints.html
9. TOC in Project Management
Explanation of how TOC applies specifically to project management.
https://www.invensislearning.com/blog/theory-of-constraints-in-project-management/
10. Lean.org – TOC vs Lean Thinking
Comparison of TOC with Lean approaches.
https://www.lean.org/the-lean-post/articles/what-is-the-theory-of-constraints-and-how-does-it-compare-to-lean-thinking/
Theory of Constraints YouTube Resources
1. What is the Theory of Constraints?
Introductory overview of TOC basics.
https://www.youtube.com/watch?v=8kT2aIftf_4
2. 3 Bottle Demonstration (Flow & Constraints)
Visual demonstration showing how constraints affect system flow.
https://www.youtube.com/watch?v=mWh0cSsNmGY
3. Eli Goldratt Explains the Theory of Constraints
Goldratt discussing core TOC principles.
https://www.youtube.com/watch?v=W18n8m97uuk
4. Theory of Constraints – Complete Introduction
Clear summary of key concepts including the Five Focusing Steps.
https://www.youtube.com/watch?v=LiAHtgFyRkA
5. TOC in Production – 5 Minute Summary
Covers Drum-Buffer-Rope and bottleneck management.
https://www.youtube.com/watch?v=wTZcDXlAB2U
6. Removing Your Greatest Bottleneck
Application-focused explanation of identifying and elevating constraints.
https://www.youtube.com/watch?v=Jpz_gbIg2Kw
7. Dr Alan Barnard – What is TOC? (10 mins)
Concise explanation of TOC thinking and system improvement.
https://www.youtube.com/watch?v=TmJst6MkOgI
8. TOC & Throughput Accounting – TEDx Talk
Connecting TOC to financial performance and business outcomes.
https://www.youtube.com/watch?v=F-06WFXJARo
YouTube Channels
Learning TOC
Channel featuring TOC concepts and Goldratt presentations.
https://www.youtube.com/user/LearningTOC
Science of Business Inc – TOC Channel
Videos on Drum-Buffer-Rope, Thinking Processes, and Throughput Accounting.
https://www.youtube.com/channel/UCEZA-AU7EjIDVp0N6J-nXRA
YouTube Videos on Monetary Sovereignty/Modern Monetary Theory (MMT)
1. What modern monetary theory actually says and why it matters Click here
2. Mostly Economics Podcast #1 – What do we really know about MMT with Stephanie Kelton Click here
3. What is modern monetary theory Click here
4. Why MMT won’t crash the pound or the bond market Click here
5. Stephanie Kelton: The big myth of government deficits | TED Click here
6. MMT and inflation explained in 8 minutes ~ Fadhel Kaboub Click here
7. Presidential Lecture Series: Stephanie Kelton Click here
8. Does MMT say we can spend without limit? Click here
9. Unpacking “The Deficit Myth” by Stephanie Kelton | Modern … Click here
10. The Right And Wrong Of MMT (Modern Monetary Theory) Click here
11. The 2021 Tansley Lecture featuring Stephanie Kelton Click here
12. Truss’s economic meltdown explained by MMT Click here
13. Stephanie Kelton: Modern Monetary Theory (MMT) | SALT Talks #8 Click here
14. Modern Monetary Theory explained Click here
15. What is Modern Monetary Theory? by Richard J Murphy Click here
16. L. Randall Wray – Modern Money Theory for Beginners Click here
17. From Smith to Keynes to MMT (Richard Murphy) Click here
18. Unraveling the Mysteries of Modern Monetary Theory with Warren Mosler Click here
19. The Truth About Modern Monetary Theory Click here
20. Why is Modern Monetary Theory So Important? Click here
Key websites for Modern Monetary Theory (MMT)
Gower Initiative for Modern Money Studies (GIMMS) — UK hub for MMT explainers, policy briefs, and events. Visit GIMMS
MMTed (Modern Monetary Theory Education) — Free courses, lecture notes, and videos designed by Prof. Bill Mitchell. Visit MMTed
Bill Mitchell’s “billy blog” — Daily MMT analysis on macroeconomics, labour markets, and fiscal/monetary policy. Visit Billy Blog
Levy Economics Institute — Research institute hosting many foundational MMT working papers (Kelton, Wray, Tcherneva). Visit Levy Institute
New Economic Perspectives — Long-running MMT blog archive (includes Randall Wray’s MMT Primer). Visit New Economic Perspectives
Stephanie Kelton — Articles, media, and resources related to “The Deficit Myth.” Visit Stephanie Kelton
Modern Money Network (MMN) — Interdisciplinary group hosting MMT talks, reading lists, and legal/finance resources. Visit Modern Money Network
Mosler Economics — Warren Mosler’s writings (policy notes, FAQs, “Seven Deadly Innocent Frauds”). Visit Mosler Economics
Pavlina R. Tcherneva — Job Guarantee research and policy briefs (see her scholar pages and publications). Visit Pavlina Tcherneva at Levy Institute
UMKC / Kansas City MMT tradition — Archive of faculty and research linked to the development of MMT. Visit UMKC Economics
The MMT Podcast — Interviews with MMT economists and policymakers; back catalogue is a great primer. Visit The MMT Podcast
GIMMS Reading Lists — Curated books, blogs, and introductory guides for newcomers. Visit GIMMS Resources
Bank of England & ONS References Supporting Monetary Sovereignty (MMT-Aligned)
Source: Bank of England (2014)
Title: Money creation in the modern economy (Quarterly Bulletin 2014 Q1)
Relevance to MMT / Monetary Sovereignty: Explains directly that commercial banks create deposits when they make loans, and that the central bank sets policy to influence money creation — foundational for understanding Modern Monetary Theory.
Source: Bank of England (Explainer)
Title: How is money created? (BoE website)
Relevance to MMT / Monetary Sovereignty: Accessible overview by the BoE stating “Most of the money in the economy is created by banks when they provide loans.” Supports the MMT view that money creation is endogenous and underpinned by state-backed monetary sovereignty.
Source: Bank of England (Explainer)
Title: What is money? (BoE website)
Relevance to MMT / Monetary Sovereignty: Provides definitions of money, distinguishing cash, deposits and reserves — useful for understanding how monetary instruments function within a sovereign currency system.
Source: Office for National Statistics (ONS)
Title: Public sector finances, UK (Monthly bulletins)
Relevance to MMT / Monetary Sovereignty: Provides official data on government spending, taxation, borrowing and debt — essential empirical evidence for demonstrating how fiscal balances mirror private-sector financial positions in MMT analysis.
Source: Office for National Statistics (ONS, 2016)
Title: UK flow of funds project: identifying sectoral interconnectedness in the UK economy
Relevance to MMT / Monetary Sovereignty: Explores financial linkages between government, households, corporations and the external sector — valuable for understanding sectoral balances and monetary flows central to MMT’s analytical framework.