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Education start-ups in India seem to be the hottest targets right now, going by the kind of <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> they are attracting from local and global investors. A couple of days ago, Delhi-based start-up <keyword id="1974964" type="UNKNOWN" weightage="100" keywordseo="Avanti-Learning-Centres">Avanti Learning Centres</keyword> raised an undisclosed amount in <keyword id="948731" type="UNKNOWN" weightage="100" keywordseo="seed-funding">seed funding</keyword> from <keyword id="1894311" type="UNKNOWN" weightage="100" keywordseo="Pearson-Affordable-Learning-Fund">Pearson Affordable Learning Fund</keyword> (<keyword id="1954796" type="UNKNOWN" weightage="100" keywordseo="PALF">PALF</keyword>). Two more <keyword id="6365770" type="UNKNOWN" weightage="100" keywordseo="angel-investors">angel investors</keyword> also took part in the round. Avanti will use the <keyword id="1974977" type="UNKNOWN" weightage="100" keywordseo="Seed-round">seed round</keyword> to develop an <keyword id="1974975" type="UNKNOWN" weightage="100" keywordseo="Online-offline-learning">online-offline learning</keyword> &amp; monitoring system, create more <keyword id="755302" type="UNKNOWN" weightage="100" keywordseo="educational-content">educational content</keyword> and build new <keyword id="68244" type="UNKNOWN" weightage="100" keywordseo="Learning-centres">learning centres</keyword>. Currently, the <keyword id="1044076" type="UNKNOWN" weightage="100" keywordseo="education-start-up">education start-up</keyword> operates stand-alone and in-school centres in Delhi, Mumbai, Chennai, Kanpur, Roorkee and Puducherry, besides helping the <keyword id="3216" type="ORGANIZATION" weightage="100" keywordseo="students">students</keyword> in three Tibetan schools in Uttarakhand and Karnataka. 
 
This is the second investment in India that Pearson has made through PALF, and the third overall since the fund was launched in July 2012. 
 In November this year, <keyword id="1954793" type="POSITION" weightage="100" keywordseo="Global-education-leader">Global education leader</keyword> Pearson’s inaugural <a href="http://www.businessinsider.in/These-2-Peer-selected-Start-upsShared-150K-Investment-To-Boost-Low-cost-Education/articleshow/26512179.cms">edupreneur programme</a>, jointly launched by PALF and US-based investor Village Capital, came to a close with <keyword id="1954794" type="UNKNOWN" weightage="80" keywordseo="Experifun">Experifun</keyword> and <keyword id="1467859" type="COMPANY" weightage="80" keywordseo="Sudiksha-Knowledge-Solutions">Sudiksha Knowledge Solutions</keyword> walking off with a seed funding of $75,000 each. The <keyword id="6362476" type="ORGANIZATION" weightage="100" keywordseo="investments">investments</keyword> will enable the start-ups to further develop their low-cost education ventures and assist underprivileged school children. 
 Pearson launched PALF in July 2012 with a capital of $15 million. Investments are made into private companies that offer <keyword id="1974987" type="UNKNOWN" weightage="100" keywordseo="Affordable-educational-services">affordable educational services</keyword> and schooling in Asia, <keyword id="12925" type="ENTERTAINMENT" weightage="80" keywordseo="Africa">Africa</keyword> and Latin America. 
 Set up as a <keyword id="456748" type="UNKNOWN" weightage="100" keywordseo="non-profit">non-profit</keyword> in March 2010 by <keyword id="258061" type="PERSON" weightage="100" keywordseo="Akshay-Saxena">Akshay Saxena</keyword> and <keyword id="1974967" type="UNKNOWN" weightage="100" keywordseo="Krishna-Ramkumar">Krishna Ramkumar</keyword>, Avanti Learning Centres supports students from low-income families (those with a family income of $5,000 per annum or below) and prepares them for <keyword id="1974989" type="UNKNOWN" weightage="100" keywordseo="College-entrance-exams">college entrance exams</keyword>, especially the highly competitive engineering and medical entrance tests. Students can study up to 18 hours a week at a centre and need to pay only $20 per month. Costs are kept low as a large network of volunteers and partners, including universities, public schools, policy makers and private sector businesses, help with teaching and administration. 
 Instead of traditional lectures, Avanti follows a comprehensive programme including <keyword id="1951606" type="UNKNOWN" weightage="100" keywordseo="book-learning">book learning</keyword>, <keyword id="144248" type="ENTERTAINMENT" weightage="100" keywordseo="Videos">videos</keyword>, <keyword id="1974990" type="UNKNOWN" weightage="100" keywordseo="Peer-learning">peer learning</keyword> (developed by Dr <keyword id="1974994" type="UNKNOWN" weightage="100" keywordseo="Eric-Mazur">Eric Mazur</keyword>, the company’s chief academic advisor and a physics professor at <keyword id="53675" type="ORGANIZATION" weightage="80" keywordseo="harvard">Harvard</keyword>), <keyword id="956032" type="PERSON" weightage="100" keywordseo="Self-study">self study</keyword> &amp; <keyword id="969316" type="UNKNOWN" weightage="100" keywordseo="group-work">group work</keyword>, <keyword id="1974991" type="UNKNOWN" weightage="100" keywordseo="Recorded-lectures">recorded lectures</keyword>, <keyword id="140811" type="UNKNOWN" weightage="100" keywordseo="mentoring">mentoring</keyword> and doubt-solving. Students are enrolled after a highly selective two-stage process. 
 “It was the commitment from Akshay and Krishna to focus on improving the <keyword id="1974995" type="UNKNOWN" weightage="100" keywordseo="Education-of-low-income-communities">education of low-income communities</keyword>, combined with an <keyword id="1974993" type="UNKNOWN" weightage="100" keywordseo="Innovative-learning-model">innovative learning model</keyword>, which was the most attractive aspect of the <keyword id="718769" type="ORGANIZATION" weightage="100" keywordseo="investment-opportunity">investment opportunity</keyword>,” said PALF executive director, <keyword id="1974962" type="UNKNOWN" weightage="100" keywordseo="Katelyn-Donnelly">Katelyn Donnelly</keyword>. 
 “Avanti is particularly exciting because it is a non-traditional pedagogy with very strong initial results. Our investment allows us to partner with a mission-led company to bridge a crucial gap between secondary and <keyword id="6375224" type="ORGANIZATION" weightage="100" keywordseo="higher-education">higher education</keyword> for low-income learners. PALF is enthused to support the Avanti team to successfully grow across India, and we look forward to working with them to deliver on their long-term vision,” she added. 
 Commenting on the funding, Saxena said, “Once we decided that a <keyword id="1975001" type="UNKNOWN" weightage="100" keywordseo="For-profit">for-profit</keyword> model was the best way to reach scale, we knew we would need expert strategic insight and advice. We are incredibly excited to be working with the Pearson Affordable Learning Fund as they bring unrivalled education expertise to the table that can help us achieve our long-term objectives. We look forward to building upon the relationship with Pearson as we improve outcomes for low-income learners in the years to come.” 
 
Recent fundraising by education start-ups 
uFaber: Mumbai-based <keyword id="1975002" type="UNKNOWN" weightage="100" keywordseo="uFaber-Edutech">uFaber Edutech</keyword> (http://www.ufaber.com/), which runs an <keyword id="1975003" type="UNKNOWN" weightage="100" keywordseo="Online-education-marketplace">online education marketplace</keyword> for <keyword id="1975006" type="UNKNOWN" weightage="100" keywordseo="Professional-skill-development">professional skill development</keyword>, hobbies, crafts, academics and vocational training, got Rs 37 lakh from <keyword id="1975007" type="UNKNOWN" weightage="100" keywordseo="Ah-Seeders">Ah! Seeders</keyword>, the seed funding network of <keyword id="1975008" type="UNKNOWN" weightage="100" keywordseo="Club-Ah">Club Ah!</keyword> It is the network’s maiden investment in India after its launch in the country. Ah! Seeders puts its money into very early stage companies and typically invests in the range of Rs 25-50 lakh. 
 
<keyword id="1573710" type="COMPANY" weightage="100" keywordseo="Meritnation">Meritnation</keyword>: Delhi-based <keyword id="1962741" type="COMPANY" weightage="100" keywordseo="Applect-Learning-Systems">Applect Learning Systems</keyword>, which runs the online education and assessment site Meritnation.com (http://www.meritnation.com/), secured Rs 10 crore from <keyword id="80004" type="COMPANY" weightage="100" keywordseo="Info-Edge">Info Edge</keyword> (India) Ltd, the biggest consumer Internet company in India by market value. With this fresh round, Info Edge has put in a total of Rs 71.5 crore and holds around 55.81% stake in Applect (on a fully diluted and converted basis). 
 
<keyword id="900714" type="COMPANY" weightage="100" keywordseo="InOpen-Technologies">InOpen Technologies</keyword>: Mumbai-based InOpen Technologies (http://inopen.in/), a start-up developing educational content and <keyword id="1975016" type="UNKNOWN" weightage="100" keywordseo="Teachers-training-solutions">teacher’s training solutions</keyword>, received an undisclosed sum in Series A from <keyword id="1975017" type="UNKNOWN" weightage="100" keywordseo="Japanese-education-firm">Japanese education firm</keyword> Benesse Holdings, Inc. In August 2011, the company raised $500,000 in seed funding from <keyword id="1975018" type="UNKNOWN" weightage="100" keywordseo="Ventureast-Tenet-Fund-II">Ventureast Tenet Fund II</keyword>. 
 
MangoSense: The Pune-based edutainment start-up (http://mangosense.com/) got an undisclosed amount from <keyword id="164924" type="ORGANIZATION" weightage="100" keywordseo="Mumbai-Angels">Mumbai Angels</keyword>. Its products include <keyword id="1975022" type="UNKNOWN" weightage="100" keywordseo="MangoReader">MangoReader</keyword>, <keyword id="1975023" type="UNKNOWN" weightage="100" keywordseo="MangoReach">MangoReach</keyword> and <keyword id="1975025" type="UNKNOWN" weightage="100" keywordseo="MangoSocial">MangoSocial</keyword>, through which users can create a fun and social environment for reading books and sharing them with friends. 
 
<keyword id="1975033" type="UNKNOWN" weightage="100" keywordseo="K2-Learning">K2 Learning</keyword>: Bangalore-based hybrid (online-offline) start-up K2 (http://k2learning.in/) secured Rs 8 crore in angel funding from <keyword id="244269" type="PERSON" weightage="100" keywordseo="Radheshyam-Agarwal">Radheshyam Agarwal</keyword>, founder and director of <keyword id="1975034" type="UNKNOWN" weightage="100" keywordseo="Calcutta-Tube-India">Calcutta Tube India</keyword>. The start-up specialises in <keyword id="1975035" type="UNKNOWN" weightage="100" keywordseo="Commerce-content">commerce content</keyword> and plans to set up <keyword id="1974968" type="UNKNOWN" weightage="80" keywordseo="Tab-Labs">Tab Labs</keyword> in more than 100 <keyword id="37181" type="ORGANIZATION" weightage="100" keywordseo="colleges">colleges</keyword> that will get special tablets with <keyword id="1975036" type="UNKNOWN" weightage="100" keywordseo="Pre-loaded-commerce-data">pre-loaded commerce data</keyword>. 
 
<keyword id="1309724" type="UNKNOWN" weightage="100" keywordseo="Simplilearn">Simplilearn</keyword>: Bangalore-based <keyword id="1974963" type="UNKNOWN" weightage="100" keywordseo="Simplilearn-Solutions">Simplilearn Solutions</keyword> (www.Simplilearn.com), a company offering <keyword id="1309739" type="UNKNOWN" weightage="100" keywordseo="professional-certification-courses">professional certification courses</keyword> online, secured $10 million in <keyword id="1095983" type="UNKNOWN" weightage="100" keywordseo="Series-B-funding">Series B funding</keyword> from <keyword id="309606" type="ORGANIZATION" weightage="80" keywordseo="Helion-Venture-Partners">Helion Venture Partners</keyword> and existing investor <keyword id="1397792" type="UNKNOWN" weightage="80" keywordseo="Kalaari-Capital">Kalaari Capital</keyword>.

Another Education Start-up From India Gets Seed
Round From Pearson Affordable Learning Fund

<ul class="summary-list"><li>Critical Role started off as a Twitch livestream, but it now mostly rolls out pre-recorded episodes.</li><li>The crew returned to its chaotic roots to promote Daggerheart, a new game it created in-house.</li></ul>For a crew that became famous on the livestreaming platform Twitch, it is now rare, nine years on, to see the cast of <a target="_blank" href="https://www.businessinsider.com/critical-role-dungeons-dragons-sold-out-live-show-wembley-arena-2023-9">Critical Role</a> going live to their 1.3 million followers.But while a March livestream was framed as a one-off event, the cast got back together on Tuesday night to promote their new game, Daggerheart.Playing a motley crew called The Menagerie, the cast — minus resident jokester Sam Riegel — took a close to four-hour-long jaunt through another fantasy world of longtime game master Matt Mercer's making, unraveling the mystery of a dark power plaguing the land.If you have no idea what I'm talking about, Critical Role is a group of eight voice actors who've been playing their way through three sprawling Dungeons &amp; Dragons campaigns on Twitch for over 1,300 hours.Now, Critical Role — a company by the same name the eight co-founders run together — is dabbling in everything nerdworld, from creating two of their own <a target="_blank" href="https://www.businessinsider.com/matt-mercer-critical-role-tease-legend-of-the-mighty-nein-2024-4">animated series</a> to building a board game empire.Daggerheart, which <a target="_blank" href="https://www.businessinsider.com/critical-role-launches-daggerheart-disruptor-dungeons-and-dragons-2024-3">dropped in open beta format in March</a>, is one of several games from CR's publishing house, Darrington Press. It appears to be an answer to the Hasbro-owned D&amp;D — and, as the CR crew demonstrated, it can draw an audience.Daggerheart has its own lore, magic, and monsters, but it still functions on core tenets like character sheets and rolling dice. It also comes with character cards and introduces the TTRPG world to <a target="_blank" rel=" nofollow" href="https://app.demiplane.com/nexus/daggerheart">a new slate of character types</a>.What makes CR's new venture into Daggerheart so interesting is that the crew appears to be embracing, once again, the funhouse chaos of its early-day Twitch streams.<div type="image" title="The cast of Critical Role play Daggerheart" height="1892" width="3352" msid="110144400" hostid="261"></div>The Daggerheart stream also starkly contrasts with the intense narrative and life-and-death stakes unfolding in the team's main campaign. It's different from the tragedy one expects when engaging with <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/critical-role-candela-obscura-liam-obrien-gothic-horror-gaming-2024-4">Candela Obscura</a>, a gothic horror game the crew is also promoting.In Daggerheart, the cast plays a motley crew of non-human adventurers. The BAFTA-winning Laura Bailey of "The Last of Us: Part II" fame is a self-described "sneaky little mushroom" rogue. The team's <a target="_blank" href="https://www.businessinsider.com/critical-role-6-hour-candela-obscura-liam-obrien-finale-twitch-2024-4">heartbreak prince</a>, Liam O'Brien, plays a monkey with an Irish accent and major healing powers.At the risk of spoiling the episode for fans, the "Daggerheart" two-shot game now looks set to get a third installment. The group didn't manage to complete what they needed to do during Tuesday night's episode, so it's morphing into a mini-campaign.The cast members have talked about how fun creating their new characters for Daggerheart has been. But it's unclear how much time the main cast plans to invest in running Daggerheart games live, considering these characters were built for a quick, one-off session."It's a bug and a monkey and a mushroom and a frog. So, we'll see," O'Brien said during an April episode of the team's talk show, "4-Sided Dive."It isn't just fun and games, though — CR is now in the big leagues, and big money is involved. They've notched some major milestones in recent years: their <a target="_blank" href="https://www.businessinsider.com/critical-role-wembley-live-show-nerd-heaven-2023-10">live show</a> <a target="_blank" rel="" href="https://www.businessinsider.com/critical-role-wembley-live-show-nerd-heaven-2023-10">sold out an arena in London,</a> and even Amazon agreed to fund their animation projects, after an <a target="_blank" rel=" nofollow" href="https://www.kickstarter.com/projects/criticalrole/critical-role-the-legend-of-vox-machina-animated-s">$11.3 million fundraising run</a> smashed Kickstarter records.The crew is also striking out on their own with an in-house streaming service, Beacon. It's a daring gambit that, if successful, will <a target="_blank" href="https://www.businessinsider.com/critical-role-beacon-subscription-service-twitch-membership-2024-5">cut major streaming partners like Amazon-owned Twitch and YouTube out of their empire</a>.

Critical Role returns to its fast and loose livestream roots to promote its Hasbro-killer board game empire

Indian start-up companies are looking at 'reverse flipping' - not a cricket terminology - with easy access to capital from private equity and venture capitals, changes in rules regarding round tripping, and the growing maturity of India's capital markets, states the Economic Survey 2022-23. The Survey was tabled in the Parliament on Tuesday. According to the Indian government the above measures have not only slowed down 'Flipping' but companies are also exploring 'Reverse Flipping'. Well, 'Flipping' and 'Reverse Flipping' are not cricket shots. The survey said many Indian companies have been getting headquartered overseas, especially in destinations with favourable legal environments and taxation policies. The technical jargon for this may be identified as 'Flipping', which is the process of transferring the entire ownership of an Indian company to an overseas entity, accompanied by a transfer of all intellectual property rights and all data hitherto owned by the Indian company. "It (flipping) effectively transforms an Indian company into a 100 per cent subsidiary of a foreign entity, with the founders and investors retaining the same ownership via the foreign entity, having swapped all shares," the survey notes. Typically, "Flipping" happens at the early stage of the start-ups, driven by commercial, taxation and personal preferences of founders and investors. Some companies decide to "Flip" because the major market of their product is offshore. Sometimes, investor preferences like access to incubators drive the companies to "Flip" as they insist on a particular domicile. Some companies prefer to domicile in countries where they would like to access Capital Market later for better valuations and ticket size. Better protection and enforcement of IP and tax treatment of Licensing revenue from IP, residential status of Founders, and agile corporate structures have been the reasons for "Flipping" in the past. "Many investors/private equity (PE) funds are based in the US and other places. They also exert pressure on the Indian startup entrepreneurs to move out of India and house their IPRs overseas," an entrepreneur had told IANS preferring anonymity. "Technology companies, primarily B2B, software as a service (SaaS) players and deep tech businesses tend to move out to the US and some towards Singapore. The reason they start in India to begin with is the entrepreneurial talent, active investing ecosystem, solid tech employees and most importantly the ability to develop and run pilots at competitive costs," Sarath <keyword id="293733" type="General" weightage="80" keywordseo="naru" source="Orion">Naru</keyword>, <keyword id="191679" type="General" weightage="80" keywordseo="managing-partner" source="Orion">Managing Partner</keyword>, Ventureast, one of the long standing venture capital firms in India had told IANS. According to Naru, the primary reason for them to move out is to be near their market. "Indian market tends to be small for these businesses and not economically viable to continue to invest in technology and be competitive against global players. The US and Southeast Asia offer large ready markets and it makes most economic and strategic sense to be close to the markets," Naru remarked. "Other than the IPR housing reason, investors like the tax regime in certain countries; lower income tax and capital gains taxes. This also attracts the startups to move and later the founders become Non-Resident Indians (NRI)," Kris Gopalakrishnan, Chairman, <keyword id="2602340" type="General" weightage="80" keywordseo="axilor-ventures" source="Orion">Axilor Ventures</keyword> told IANS. "Some of these governments give specific incentives like rent reimbursements, grants based on local employment etc. Further, the access to capital which does not invest in Indian companies. Finally, <keyword id="88599" type="General" weightage="80" keywordseo="sas" source="Orion">SAS</keyword> companies, especially enterprise SAS, move to the US/UK to be closer to the enterprise customers," Gopalakrishnan added. The Economic Survey said to accelerate 'Reverse Flipping', certain measures like the following are possible: i. Simplifying the process for grant of "Inter-Ministerial Board (IMB) certification" for Start-ups ii. Further simplification of taxation of Employee Stock Options (ESOPs) iii. Simplifying multiple layers of tax and uncertainty due to tax litigation iv. Simplifying procedures for capital flows: Many countries, such as US and Singapore, have easier corporate laws, with lesser restrictions on the inflow and outflow of capital and treatment of Hybrid Securities v. Facilitating improved collaboration and partnerships with established private entities to develop best practices and state-of-the-art start-up mentorship platforms vi. Exploring the incubation and funding landscape for start-ups in emerging fields like social innovation and impact investment. The flipping phenomenon mentioned above reflects start-ups venturing out for short-term gains in the dynamic, uncertain geopolitical world. However, the flip can be reversed with the collective action by the government related regulatory bodies and other stakeholders. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/in-a-major-clean-up-drive-bmc-sacks-55-staffers-for-corruption-suspends-134-for-graft-crimes/articleshow/97491919.cms">In a major clean-up drive, BMC sacks 55 staffers for corruption, suspends 134 for graft, crimes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/sc-suggest-nirav-modis-bro-in-law-to-give-letter-of-authority-to-cbi-to-access-offshore-bank-accounts/articleshow/97493054.cms">SC suggest Nirav Modi's bro-in-law to give letter of authority to CBI to access offshore bank accounts</a>

Indian start-ups are looking at reverse flipping says Economic Survey

Table of Contents: Masthead Sticky<ul class="summary-list"><li>Modern Monetary Theory is an alternative economic theory that suggests the US government can create more money.</li><li>Modern Monetary Theory claims that because the government is the issuer of money, it can create more since it's no longer backed by gold.</li><li>Proponents think Modern Monetary Theory can counter many economic problems, while opponents fear inflation and increased deficits.</li></ul>Modern Monetary Theory (<keyword id="12259028" type="UNKNOWN" weightage="60" keywordseo="mmt" source="Orion">MMT</keyword>) is an economic theory that suggests that the government could simply create more money without consequence as it's the issuer of the currency, according to the <a href="https://www.richmondfed.org/publications/research/economic_brief/2021/eb_21-12" target="_blank" rel="noopener">Federal Reserve Bank of Richmond.</a> As part of this theory, the thinking is that government deficits and national debt don't matter nearly as much as we think they do. Instead of relying on tax revenue or borrowing to support federal government spending, according to MMT supporters, the government can simply create more money instead. This is a big departure from how many economists think about government spending and has become a popular alternative theory as discussions about debt and government spending hit the national stage. <h2>Understanding Modern Monetary Theory </h2>The term "Modern Monetary Theory" was originally coined by Bill Mitchell, an Australian economist, and has become more mainstream over the past few years with politicians like Alexandra Ocasio-Cortez popularizing the concept. "The whole idea of MMT is that since a sovereign entity can borrow in its own currency, it can print more money when it needs to pay off all its debt. The central bank just needs to keep interest rates low," says <a href="https://business.creighton.edu/faculty-directory-profile/2010/robert-johnson" target="_blank" rel="noopener">Robert R. Johnson</a>, professor of finance at the Heider College of Business at Creighton University.MMT is essentially a paradigm shift when it comes to economic theory and a new way of thinking about governments with fiat currencies.Quick tip: Fiat currency is money that is issued by a government authority that isn't backed by a particular commodity such as gold. The US has fiat currency that is issued by the government and is considered legal tender, which is used to exchange value in the form of money."In essence, governments like the US, Japan, the UK, and Canada that use fiat currencies are not constrained by their tax revenues when it comes to government spending and can perpetually run a budget deficit. This is due to the fact that the central banks in these counties have a monopoly on the supply of money," explains Ryan Cullen, CEO and founder of <a href="https://www.culleninvestmentgroup.com/" target="_blank" rel="noopener">Cullen Investment Group</a>. This differs from the way things used to be with the Bretton Woods System, which started in 1944 and ended with Nixon in 1971. According to <a href="https://www.federalreservehistory.org/essays/gold-convertibility-ends" target="_blank" rel="noopener">FederalReserveHistory.org</a>, the system became operational in 1958 and pegged currencies to the dollar, which were backed by gold. "This is opposed to when the USD was on the gold standard and we had a fixed number of dollars in circulation based on the amount of gold we had in vaults," notes Cullen. "This was an archaic form of monetary policy because governments with full control of their money supply do not need to confine themselves to a traditional household budget that manages revenues and expenses, because they essentially have an AMEX black card of unlimited money that they do not have to pay back."Quick Tip: Learn more about the Bretton Woods System and the "gold standard" as part of <a href="https://www.federalreservehistory.org/essays/bretton-woods-launched" target="_blank" rel="noopener">Federal Reserve History</a>.<h3>Main tenets of Modern Monetary Theory</h3>The main tenets of Modern Monetary Theory are:<ul><li>Government deficits aren't inherently bad. According to the MMT theory, deficits don't matter as much as we think they do and aren't necessarily a signal of a shaky <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword>. If the government can simply create more money, then the government deficits can be easily fixed. This concept is a hallmark of MMT and one of the most controversial aspects of the theory. </li><li>Governments can create more money without threat of economic collapse. Given the fact that money is no longer backed by gold and is more theoretical in the sense it can be created at any time, many MMT supporters believe that money can be created without tanking the economy. In 2005, former Federal Reserve Chairman, Alan Greenspan, followed that line of thought: "There's nothing to prevent the federal government creating as much money as it wants."</li><li>Because the government is the creator of the currency, it doesn't need to adhere to the same individual budgeting principles. As individuals we know that our expenses shouldn't exceed our income or it'll lead to debt. Proponents of MMT say that the government doesn't need to abide by such standards since it's also the creator of the money and theoretically can create more. </li><li>A federal jobs guarantee program is possible. Again, given the core tenet that the government can create more money, MMT theorists support the idea of a federal job guarantee as a way to stabilize the economy and put money toward human capital.</li><li>The Federal Interest rate should be at 0%. Many MMT supporters believe that the "natural rate of interest is zero" and there should be no bond sales. On top of that, MMT supporters want to do away with the increasing and lowering of interest rates as they're ultimately not that relevant when it comes to growth and long-term business decisions.</li></ul>Quick Tip: To learn more about Modern Monetary Theory, you can check out episode 866 of the podcast <a href="https://www.npr.org/sections/money/2018/09/26/651948323/episode-866-modern-monetary-theory" target="_blank" rel="noopener">Planet Money</a>.<h2>Brief history of MMT </h2><ul><li>The term "Modern Monetary Theory" was coined by Australian economist Bill Mitchell in the early 90s, however some of the ideas are based on earlier themes in Keynesian economics. </li><li>Ideas around MMT were developed by economists Bill Mitchell, Warren Mosler, and L. Randall Wray as early as 1992 through email listservs. </li><li>In 2019, politician Alexandria Ocasio-Cortez <a href="https://www.businessinsider.com/alexandria-ocasio-cortez-ommt-modern-monetary-theory-how-pay-for-policies-2019-1" target="_blank" rel="noopener">noted</a> that MMT should be a "a larger part of our conversation" as it relates to balancing the federal budget. </li><li>As of 2020/2021 during the pandemic, MMT has grown in popularity and has become more mainstream.</li></ul><h2>Concerns over Modern Monetary Theory</h2>On the surface, outsiders and those with more traditional beliefs may think that Modern Monetary Theory seems like an idealistic solution to growing economic problems. Though the theory is increasing in popularity, there are also many skeptics and opponents of the theory as well. "It was originally a kind of cult in macroeconomics, it's still somewhat of a cult, except that it's entered the popular press. Basically, what it is is late 1940s Keynesian economics with a wacky theory of money creation tacked onto it," says <a href="https://www.swarthmore.edu/communications-office/mark-kuperberg" target="_blank" rel="noopener">Mark Kuperberg</a>, professor of economics at Swarthmore. The primary criticisms and concerns over MMT include: <ul><li>Increased inflation. One of the chief concerns of MMT is widespread <a href="https://www.businessinsider.com/what-is-inflation" target="_blank" rel="noopener">inflation</a>, though MMT supporters have looked at instances such as the financial crisis, which led to lots of government spending and didn't result in inflation. However, this theory shouldn't set a precedent, as all other factors are not the same and one of the primary indicators of inflation - economic scarcity - has not been part of the equation. </li></ul><ul><li>More deficits. Given the core beliefs of MMT, if implemented, it could lead to even higher deficits. While that isn't a concern for MMT proponents, it's concerning for others, like <a href="https://krugman.blogs.nytimes.com/2011/08/15/mmt-again/" target="_blank" rel="noopener">Nobel Prize winner Paul Krugman</a>, who think that lending and interest rates may be compromised and cause inflation. </li><li>Examples in Venezuela, Zimbabwe, Germany, and more have shown potential downsides, destruction, and hyperinflation. According to the <a href="https://www.brookings.edu/opinions/is-modern-monetary-theory-too-good-to-be-true/" target="_blank" rel="noopener">Brookings Institution</a>, previous historical examples show clearly that creating more money can lead to <a href="https://www.businessinsider.com/hyperinflation" target="_blank" rel="noopener">hyperinflation</a> and unrest. </li></ul>Though inflation is a big concern, there are other ways to manage government spending and taxation to deal with it. "The government can essentially print as much money as it would like to fund essential services and programs and also stimulate the economy, and when inflation rises to an undesired level, you can increase taxes to bring inflation back down to your target rate," says Cullen. "It's sort of a seesaw because the government can add money to the money supply when needed, then tax more to take that money back out of circulation and decrease inflation."In regards to concerns about MMT theories being put in place and having similar results as other countries, that might not be an apples-to-apples comparison, and there's more to the equation to consider. "The United States is not Venezuela … the US government borrows a lot of money. About a third of the borrowing is from foreigners … it's not a problem in the way that, let's say, if Venezuela borrowed from foreigners, or Argentina, or a lot of developing and less-developed countries," explains Kuperberg. "Because those countries, when they borrow from foreigners, borrow in dollars. They can't print the dollars. So if their currency starts to depreciate against the dollar for whatever reason, it becomes almost impossible for them to pay off their debt. The MMT people totally understand this and they say that for a country that borrows in its own currency, this is not a problem, and they're right." So while historical examples of hyperinflation and unrest can give us a glimpse into what might happen with MMT policies, it's important to consider all relevant factors and unique considerations with the US government. Another concern of MMT is the potential transfer of wealth from everyday people to the one percent if the theory turned into actual policy with real-world ramifications. "Modern monetary policy is the most effective way to transfer wealth from the working class to the elite. When more money is created it generally goes directly to the largest investment banks, which have the closest relationship with the central bank and the Treasury Department," says Shaun Heng, vice president of operations at <a href="https://coinmarketcap.com/" target="_blank" rel="noopener">CoinMarketCap</a>. "This means that the wealth of the working class, generally stored in cash or bank accounts, loses its purchasing power. Meanwhile the purchasing power of investment banks grows exponentially."<h2>Modern Monetary Theory and investing </h2>MMT policies could have ramifications on investments as well. It could potentially lead to an increase in inflation that could affect investments and lower the overall value. On top of that, it may lead to higher stock prices, which could make it more difficult to get into the market if you have limited means. According to Heng, MMT-related policies are contributing to the growth of cryptocurrency trading as well. MMT-related policy "is one of the things driving growth in cryptocurrency. There have been a variety of programs that go hand in hand with MMT," notes Heng. "The first is the Troubled Asset Relief Program (TARP), which was one of the tools used in the bank bailout following the recent financial crisis. The other is quantitative easing. All of these programs have devalued many assets linked to dollars and have caused many to invest in cryptocurrency."On top of affecting retail investors, MMT policies would also potentially affect private investment as well, according to Johnson."​​One of the consequences of MMT would be that government spending and debt would rise, and this would crowd out private investment," explains ​​Johnson. "Many advocates of MMT in Congress, like AOC, would use MMT to fund wide-reaching proposals like Medicare for All, Free College, and the Green New Deal. The biggest problem is that citizens ultimately have to eventually pay for these proposals via either higher taxes or by suffering inflation."<h2>Readings related to Modern Monetary Theory</h2><div type="image" title="Collage of Modern Monetary Theory books" height="834" width="1668" msid="86820932" hostid="261"></div>There have been a number of books published on MMT that can offer more background and a deeper look into the theories.<ul><li>"<a href="https://www.amazon.com/Macroeconomics-William-Mitchell/dp/1137610662" target="_blank" rel="noopener">Macroeconomics</a>" by William Mitchell, L. Randall Wray, and Martin Watts, which is a 604-page textbook based on MMT theories and its predecessors.</li><li>"<a href="https://www.amazon.com/Soft-Currency-Economics-II-MMT-ebook/dp/B009XDGZLI" target="_blank" rel="noopener">Soft Currency Economics II</a>" by American economist, Warren Mosler, who is one of the founders of MMT. The book is often noted as a seminal text in the MMT movement. </li><li>"<a href="https://www.amazon.com/Deficit-Myth-Monetary-Peoples-Economy/dp/1541736192/" target="_blank" rel="noopener">The Deficit Myth: Modern Monetary Theory and the Birth of the People's Economy</a>" by Stephanie Kelton, Bernie Sanders' former economic adviser, tackles MMT and why government deficits aren't as bad as we think.</li></ul><h2>The financial takeaway</h2>Modern Monetary Theory is still on the fringes of economic thought but is becoming more mainstream. The theory is still just that - a theory - but with a growing number of proponents and opponents on each side.Either way, there are potential real-world ramifications for the economy and investors alike to be aware of if the theory is put to the test.When you buy through our links, Insider may earn an affiliate commission.<a data-type="6143817b5b926a5dd93d7aa5">Purchase power is a measure of what your money can buy - here's how it can impact your finances</a><a data-type="5fd13ec136173528f05dbb43">The federal funds rate is the benchmark interest rate that affects borrowing costs across the US economy</a><a data-type="5f7bcedf2c44cc7573481539">Why the Federal Reserve uses contractionary monetary policy to curb the inflation that accompanies an overheating economy</a><a data-type="613a80502864561673290c31">What to know about the main causes of inflation</a>

What is Modern Monetary Theory? Understanding the alternative economic theory that's becoming more mainstream

<div type="image" title="black widow wonder woman mulan female movies 2020" height="600" width="1200" msid="75184716" hostid="261"></div><ul class="summary-list"><li>At the start of 2020, five of the year's most-anticipated films — "Birds of Prey," "<keyword id="3026859" type="PERSON" weightage="60" keywordseo="Mulan">Mulan</keyword>," "Black Widow," "Wonder Woman 1984," and "The Eternals" — all starred female leads and were directed by women.</li><li>For the first time, fans were seeing multiple female-led superhero movies come to theaters in the same year.</li><li>Then the <a href="https://www.businessinsider.com/coronavirus-cases-maps-us-world-spread-symptoms-death-rate-2020-1">coronavirus pandemic</a> happened, resulting in delays and a jam-packed fall schedule that will leave films competing against one another for box-office dollars.</li><li>Even when theaters eventually reopen, will these movies even perform in the way they would have pre-pandemic? Industry experts predict the <a href="https://www.cnbc.com/2020/04/13/us-box-office-headed-for-worst-year-since-1998.html">box office will have its worst performance since 1998</a>. </li><li>Even in a year where female-led films will most likely still dominate the <keyword id="25892" type="ORGANIZATION" weightage="60" keywordseo="box-office">box office</keyword>, they'll still lose.</li><li><a href="https://www.insider.com/?hprecirc-bullet">Visit Insider's homepage for more stories</a>.</li></ul>Before the world health crisis, women were going to rule <keyword id="2370" type="COMPANY" weightage="60" keywordseo="hollywood">Hollywood</keyword> and the box office in 2020.After a <a href="https://variety.com/2020/film/box-office/box-office-us-misses-record-disney-dominates-1203453752/">record-setting year at the box office in 2019</a> led by "<a href="https://www.boxofficemojo.com/releasegroup/gr3511898629/?ref_=bo_ydw_table_1">Avengers: Endgame</a>," the "<a href="https://www.boxofficemojo.com/releasegroup/gr403788293/?ref_=bo_ydw_table_2">Lion King</a>" remake, "<a href="https://www.boxofficemojo.com/releasegroup/gr1030181381/?ref_=bo_ydw_table_3">Frozen 2</a>," and a "<a href="https://www.boxofficemojo.com/releasegroup/gr1825526277/?ref_=bo_ydw_table_4">Spider-Man</a>" sequel, the 2020 lineup of movies meant it was going to be a huge year for women on screen. The year that kicked off with Warner Bros.' "<a href="https://www.insider.com/category/birds-of-prey">Birds of Prey</a>" and Universal's <a href="https://www.insider.com/what-is-invisible-man-about-2020-3">surprise hit</a> "<a href="https://www.insider.com/category/the-invisible-man">The Invisible Man</a>," starring Elisabeth Moss, was just the start of a female-heavy presence at the box office.Five of Fandango's most anticipated movies for 2020 were <a href="https://www.fandango.com/movie-news/the-most-anticipated-movies-of-2020-are-directed-by-women-754008">either films from female directors or centered around female characters</a>. The three most anticipated horror movies ("A Quiet Place Part II," "Halloween Kills," and "The Invisible Man") all starred leading ladies.<div type="image" title="female led movies 2020" height="6000" width="1200" msid="75184725" hostid="261"></div>For the first time, fans were going to see multiple female-led superhero movies come to the box office in the same year that didn't just star women. They were also directed by women.Viewers were finally getting a sequel to 2017's "Wonder Woman," one of the best films in the DC extended universe. Maisie Williams was set to star in Fox's long-delayed "New Mutants." After more than a decade, Black Widow was getting her own <a href="https://www.vanityfair.com/hollywood/2018/01/black-widow-movie-screenwriter">long overdue solo movie</a>, which was set to kick off the summer slate of movies.In the fall, Angelina Jolie, Salma Hayek, and "<a href="https://www.insider.com/category/the-walking-dead">The Walking Dead</a>" fan-favorite Lauren Ridloff were to star in <keyword id="47501" type="COMPANY" weightage="60" keywordseo="Marvel">Marvel</keyword>'s adaptation of "The Eternals." (You can read more <a href="https://www.insider.com/who-are-the-eternals-cast-2019-7">on the superhero group here</a>.)<div type="image" title="eternals cast.JPG" height="2218" width="3000" msid="75184728" hostid="261"></div>And it wasn't just superhero movies. "Mulan," a remake of 1998's <keyword id="46161" type="CITY" weightage="60" keywordseo="Disney">Disney</keyword> animated <keyword id="6356021" type="UNKNOWN" weightage="60" keywordseo="movie">movie</keyword> of the same name, was poised to be one of the highest-grossing movies of the year. Insider screened the Niki Caro-directed film at its premiere March 9. While we can't say much about it yet, it's Disney's <a href="https://twitter.com/KirstenAcuna/status/1237230187202240512">best remake to date</a>. Original co-director Tony Bancroft, who was a big fan of the remake, told Insider after the premiere that it was going to be a big win for the studio.<div type="image" title="mulan niki caro liu yifei" height="2000" width="3000" msid="75184731" hostid="261"></div>After her role in "Mary Poppins Returns," Emily Blunt was set to star in both "A Quiet Place Part II" and "Jungle Cruise." Even the male-centric world of "<a href="https://insider.com/category/fast-and-furious">Fast and Furious</a>" was going to bring back Michelle Rodriguez, Jordana Brewster, Nathalie Emmanuel, Helen Mirren, and Charlize Theron front and center for Memorial Day weekend. Similarly, MGM's Bond movie, "No Time to Die," made it a point to transform and modernize what it means to be a Bond woman in the age of #MeToo. <a href="https://www.hollywoodreporter.com/features/how-lashana-lynch-ana-de-armas-are-helping-modernize-james-bond-1252345">According to The Hollywood Reporter</a>, "Fleabag" creator Phoebe Waller-Bridge was brought on to help bring a female perspective to the script. There were at least 20 movies coming to theaters which either starred a woman in a leading role, <a href="https://www.insider.com/movies-female-directors-women-directed-this-year-2020-1">was directed by a woman</a>, or both in 2020.And then the <a href="https://www.businessinsider.com/coronavirus-cases-maps-us-world-spread-symptoms-death-rate-2020-1">coronavirus pandemic happened</a>. <h2>Now, movies are pushed back and some are delayed until next year</h2><div type="image" title="movie release date change 2020" height="900" width="1200" msid="75184734" hostid="261"></div>As businesses began shutting down and stay-at-home orders took place across states, one by one, studios <a href="https://www.businessinsider.com/movies-impacted-by-coronavirus-no-time-to-die-mulan-sonic-2020-3">delayed</a> and <a href="https://www.insider.com/movies-coming-to-theaters-this-year-titles-hurt-by-coronavirus-2020-3">shifted their film releases in response</a>."No Time to Die" was the first film to <a href="https://www.businessinsider.com/james-bond-no-time-to-die-release-date-delayed-coronavirus-2020-3">move to a new spot on November 25</a>. "Mulan" is currently set for a July 24 debut at theaters. "Wonder Woman 1984" is slated to release three weeks later on August 14.Meanwhile, the entire Marvel Studios' <a href="https://www.insider.com/marvel-movie-release-date-schedule-2020-4">calendar has shifted</a>. "Black Widow" is taking the "Eternals" release slot on November 6. The latter film will no longer debut this year. It's now set for a February 12, 2021 release. "A Quiet Place Part II" was pushed back until September 4 though the billboards around Los Angeles, California, frozen in time, will tell you it already premiered. "Jungle Cruise," a Disney film starring Dwayne "The Rock" Johnson and Emily Blunt based on the theme park attraction, was pushed back to next summer.<div type="image" title="a quiet place part 2 billboard los angeles" height="2250" width="3000" msid="75184737" hostid="261"></div>The highly-anticipated "F9" moved back a year to April 2, 2021, subsequently pushing back the release of "Fast 10." There is no release date for "New Mutants." <h2>Why this blow hurts: It took years to get so many female-led movies to screen with female writers and directors, and now many of these movies will be released within a few weeks of one another</h2><div type="image" title="ww84 patty jenkins wonder woman" height="2179" width="3000" msid="75184740" hostid="261"></div>Women accounted for 12% of directors of the top 100-grossing movies of 2019, <a href="https://womenintvfilm.sdsu.edu/wp-content/uploads/2020/01/2019_Celluloid_Ceiling_Report.pdf">according to a study from the Center for the Study of Women in Television and Film</a> on the employment of women in the Top 100, 250, and 500 films of 2019. That number is up from 8% in 2017. According to the same study, women accounted for 20% of all writers in the top 100 films of 2019. In 2010 and 2017, that number was 10%.When it comes to women in lead roles, a 2020 <a href="http://assets.uscannenberg.org/docs/aii-inequality-leads-co-leads-20200103.pdf">USC Annenberg study on inequality across gender and race</a> found that 43 of the 100 highest-grossing movies of 2019 featured a female lead or co-lead. That's a 13-year high. Only 20 of the 100 top movies from 2007 featured a female lead or co-lead.Why did it take so long to see an increase in female-led films both in front of and behind the camera?Well, in part, it took years to justify why female-led films and female-led superhero movies were bankable in Hollywood after flops like "Catwoman" (2004) and "Elektra" (2005).Studios couldn't seem to fathom <a href="https://screenrant.com/why-have-female-superhero-movies-failed-so-far/">that audiences wanted something beyond the male gaze of popular female characters</a> under a thinly-veiled plot. ("Catwoman" is literally about Halle Berry's character saving the world from a dangerous face cream at an evil cosmetics company. It's also filled with a lot of terrible cat puns.)<div type="image" title="catwoman halle berry" height="927" width="1400" msid="75184744" hostid="261"></div>It wasn't until the success of Kristen Stewart's "Twilight" series (2008-2012) and the Jennifer Lawrence-led "Hunger Games" franchise (2012-2015), that action films with female leads were seen as a hot commodity. But instead of an influx of female superhero films, Hollywood searched <a href="https://www.theguardian.com/film/2014/apr/25/classic-young-adult-novels-hollywood-adapt-hunger-games-divergent">for the next big YA film adaptation</a>, which <a href="https://film.avclub.com/not-catching-fire-21-ya-adaptations-that-failed-to-lau-1798281657">didn't always</a> <a href="https://www.vulture.com/2013/11/why-do-so-many-ya-adaptations-flop.html">pan out</a> ("The Mortal Instruments," "The Giver," and "Beautiful Creatures" are among the many attempts of book-to-screen.)In 2013, it still seemed a <a href="https://www.theatlantic.com/entertainment/archive/2013/12/earth-to-hollywood-people-will-pay-to-see-a-female-superhero-film/282107/">far-fetched idea to give female characters like Wonder Woman a solo movie</a>. Gal Gadot's debut as Diana Prince/Wonder Woman's wasn't in the 2017 film. It was a <a href="http://www.mtv.com/news/2799494/batman-v-superman-wonder-woman/">scene-stealing cameo in 2016's "Batman v. Superman."</a><div type="image" title="wonder woman batman v superman" height="921" width="2260" msid="75184746" hostid="261"></div>In his book, "<a href="https://www.amazon.com/Ride-Lifetime-Lessons-Learned-Company/dp/0399592091">The Ride of a Lifetime,</a>" then-Disney CEO Bob Iger, said he had faced roadblocks from Marvel Comics in getting both "Black Panther" and "Captain Marvel" to screen. In the book, Iger recalled someone from the Marvel team in New York telling him that "female superheroes never drive big box office." Fast forward and "Wonder Woman" succeeded in 2017 grossing <a href="https://www.boxofficemojo.com/title/tt0451279/?ref_=bo_se_r_1">over $821 million worldwide</a>. 2018's "Captain Marvel" <a href="https://www.indiewire.com/2019/03/captain-marvel-box-office-opening-weekend-1202049967/">exceeded expectations with a massive opening weekend</a> and again by <a href="https://www.businessinsider.com/movies-to-make-1-billion-at-2018-box-office-jurassic-world-infinity-war-2018-7">crossing $1 billion at the box office</a>. For the first time, five of 2020's superhero movies were to be headlined by multiple women, not men. <h2>These films will now be forced to open within a packed schedule and compete with each other</h2>Movies that were set to be sprawled out across an entire year will, in many cases, be released within a few weeks of one another and their box-office opportunity will shrink along with it. Many of these movies won't only be competing against each other, but will be competing for eyeballs and money against other new releases that were already set for the fall and for next year. Assuming the current release schedule remains the same, there's only one week between the release of Christopher Nolan's next event film "Tenet" and Disney's "Mulan" remake. Three weeks later, "Wonder Woman 1984" will be in theaters. Another three weeks later, we get "A Quiet Place Part II." "Black Widow" will compete with WB's "Godzilla" sequel two weeks after its release November 6.<div type="image" title="tenet release vs mulan" height="600" width="1200" msid="75184750" hostid="261"></div>There are <a href="https://www.firstshowing.net/schedule2020/">at least 21 movies set to debut in the last two months</a> of the year. In addition to pushed back films, big releases include "West Side Story," "Dune," "Godzilla Vs. Kong," and the sequels to "Top Gun" and "Coming to America." Any way you slice it, the fall — and November and December, especially — are going to be very crowded, tough months at the box office for any film to really stand out. And that's assuming that theaters will be reopening by then.When theaters do eventually reopen, these female-led films will face a different uphill climb as well. Will these movies even perform in the way they would have pre-pandemic? Industry experts predict this year's <a href="https://www.cnbc.com/2020/04/13/us-box-office-headed-for-worst-year-since-1998.html">box office will have its worst year since 1998</a>. <h2>Even in a year where female-led films will most likely still dominate the box office, they'll still lose</h2>When the theaters do reopen, there are so many questions that could affect the success of movies. Will audiences even want to go to theaters and sit among strangers? Will they have the funds available? Will theaters be able to hold the same size crowds as before or will they limit the number of people, resulting in fewer box-office dollars? In China, <a href="https://variety.com/2020/film/news/china-cinemas-coronavirus-closures-1203538761/">theaters started reopening</a> before they were <a href="https://www.businessinsider.com/coronavirus-china-orders-all-movie-theaters-to-close-again-2020-3">closed up again in late March</a>. In the US, <a href="https://www.insider.com/when-will-movie-theaters-reopen-masks-social-distancing-2020-4">theater executives and owners are desperate to reopen</a> and are struggling to figure out how to convince people to sit in the same room as strangers again. That's assuming they're allowed to reopen with CDC and government mandates.<div type="image" title="movie theater seats" height="660" width="1000" msid="75184753" hostid="261"></div>At least so far, movie studios still intend to release "Mulan," "Black Widow," "A Quiet Place Part II," and "Wonder Woman 1984," four of Fandango's most-anticipated films of 2020. Those four may very well wind up among 2020's highest-grossing films. But the harsh reality is the worldwide grosses may be lower than expected because of varying social distance practices across the world and the way theaters operate upon re-opening.Even in a year where women will likely wind up dominating Hollywood, they'll get the short end of the stick. Read the original article on <a href="https://www.insider.com/women-were-supposed-to-rule-2020-box-office-2020-4">Insider</a>

2020 was supposed to be the year women ruled the box office. Then the coronavirus pandemic happened.

<ul class="summary-list"><li>At least 36 QAnon-supporting candidates intend to run for <keyword id="1575" type="ORGANIZATION" weightage="60" keywordseo="Congress">Congress</keyword> in 2022, Media Matters said.</li><li>Some of the candidates are diehard <keyword id="9152811" type="UNKNOWN" weightage="60" keywordseo="qanon">QAnon</keyword> fans, while others signal their support subtly.</li><li>Experts told Insider that this shows how QAnon has evolved into a major political force.</li></ul>In July 2020, JR Majewski made national headlines after transforming his 19,000-square-foot lawn into a massive Trump re-election banner. When the Air Force veteran from Ohio appeared in a <a href="https://video.foxnews.com/v/6171039977001#sp=show-clips">television interview with Fox News</a>, he was wearing a <a href="https://www.insider.com/qanon-history-who-is-q-conspiracy-theory-what-does-believe-2021-2">QAnon</a> T-shirt.Several months later, as Congress met to certify President Joe Biden's election win, Majewski was among the <a href="https://www.businessinsider.com/congregant-gives-up-father-son-pastor-duo-in-connection-to-capitol-riot">thousands of Trump supporters</a> who attended the "Stop the Steal" rally in Washington DC, <a href="https://www.mediamatters.org/qanon-conspiracy-theory/meet-qanon-affiliated-insurrectionist-running-congress-ohio">later admitting to</a> breaching police barricades and walking up to the base of the Capitol building.Majewski is now trying to return to the Capitol, but this time as a congressman representing the 9th district of Ohio, a seat currently held by Democratic Rep. Marcy Kapur.Read more: <a href="https://www.businessinsider.com/john-mcafee-death-suicide-qanon-jeffrey-epstein-conspiracy-theories-2021-6">QAnon followers are already spreading Epstein-like conspiracy theories about John McAfee's reported suicide</a>Since he was first spotted wearing the "Q" T-shirt, Majewski has made <a href="https://www.mediamatters.org/media/3944616">several more references</a> to the conspiracy theory, posting QAnon <a href="https://www.mediamatters.org/media/3936266">images</a> and <a href="https://www.mediamatters.org/media/3936271">hashtags</a> on his social media channel, and live streaming videos with the well-known QAnon influencer RedPill79.Majewski is one of many congressional candidates running in the 2022 midterm elections who have given credence to QAnon, which the FBI described as a far-right group with "anti-government, identity-based and fringe political <keyword id="1379614" type="PERSON" weightage="60" keywordseo="conspiracy-theories">conspiracy theories</keyword>," <a href="https://www.washingtonpost.com/politics/gop-candidates-florida-21st-congressional-district-trump/2020/08/16/a8d710b8-de2d-11ea-8051-d5f887d73381_story.html">The Washington Post</a> reported. <div type="image" title="Ohio man JR Majewski stands on his Trump-themed lawn" height="716" width="1433" msid="83892630" hostid="261"></div>A <a href="https://www.mediamatters.org/qanon-conspiracy-theory/here-are-qanon-supporters-running-congress-2022">Media Matters investigation</a> published earlier this month revealed that 36 candidates in 17 states have either openly endorsed QAnon, made subtle references to, or distanced themselves from the conspiracy theory despite repeatedly displaying their support on social media or in video interviews. Thirty-three of the candidates are running as Republicans while two are independents and one is still deciding whether to run as a Republican or an independent, the investigation found. The state with the most QAnon-believing candidates is Florida with nine candidates, followed by California which has six candidates, although these numbers are still subject to change.On the list are a handful of incumbents in Congress, including the gun-loving <a href="https://www.businessinsider.com/lauren-boebert-says-democrats-are-obsessed-with-conspiracy-theories-2021-3">Rep. Lauren Boebert </a>and Rep. <a href="https://www.insider.com/marjorie-taylor-greene-jewish-lasers-space-conspiracy-theories-theory-history-2021-2">Marjorie Taylor Greene</a>, who helped bring the conspiracy theory into the mainstream. <h2>The diehard QAnon supporters</h2>Around a dozen congressional candidates have openly affiliated with the QAnon conspiracy theory, including <a href="https://twitter.com/DWood4Congress/status/1277333760514482177?s=20">Daniel Wood of Arizona</a>,<a href="https://twitter.com/alkapdc/status/1289957265609388039?lang=en"> Darlene Schwaffar of Florida</a>, and <a href="https://www.instagram.com/p/B_x0BlolZei/?igshid=1df4txm0cnfjs">Mayra Flores of Texas</a>.In this cohort is also <a href="https://ballotpedia.org/Reba_Sherrill">Reba Sherill</a>, a health and wellness advocate who in 2020 unsuccessfully ran in Florida's 21st congressional district - home to Trump's Mar-a-Lago resort. She is running again as a Republican candidate for the US Senate in the midterms.As a big Trump fan, Sherrill used to gather with other supporters on a bridge near Mar-A-Lago to wave in homage at the former president's motorcade whenever he was in town, <a href="https://www.washingtonpost.com/politics/gop-candidates-florida-21st-congressional-district-trump/2020/08/16/a8d710b8-de2d-11ea-8051-d5f887d73381_story.html">The Washington Post</a> reported. She is an ardent QAnon believer and has made the conspiracy theory central to her largely self-funded campaign. The self-described "Q patriot" focuses her campaign on child trafficking, matching with QAnon's false belief that Trump is fighting a "deep state" cabal of human traffickers in the United States, <a href="https://uk.finance.yahoo.com/news/how-the-q-anon-factor-is-playing-out-in-floridas-gop-primaries-151258934.html">Yahoo News</a> reported.Sherrill has also referred to the more extreme adrenochrome theory - the belief that Democratic elites harvest the drug from children by torturing them and drinking their blood - in a now-deleted post on her <a href="https://www.rebaforcongress.com/">website.</a>The Flordia native told Yahoo <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">News</keyword> that the "mainstream media tries to paint people who talk about human trafficking and child sex trafficking as being some kind of crazy lunatics." "This is not a conspiracy, this is reality," she insisted. "It's not some fictitious thing."Another congressional candidate who believes in the human trafficking theory is Omar Navarro, a convicted stalker running for California's 43rd congressional district.Navarro, who also featured in <a href="https://www.businessinsider.com/qanon-trump-capitol-attack-belief-precursor-the-storm-2021-1">HBO's "Q: Into the Storm" documentary series</a>, is one of the more recognizable faces of the QAnon world.The California native, who last year spent <a href="https://web.archive.org/web/20200803161010/https://www.thedailybeast.com/california-rep-maxine-waters-foe-omar-navarro-gets-out-of-jail-and-attempts-to-destroy-fellow-republican?source=articles&amp;via=rss=rss">six months in jail</a> after pleading guilty to a stalking charge, told Insider in an interview that he believes in "some things" that "Q" says, including the human trafficking trope. "I do believe that there's human trafficking going on right now. I do believe that Hollywood has participated in some of this with pedophilia on and it's something obviously we can't ignore," he said.Navarro, who has gone viral multiple times on Twitter for his far-right and <a href="https://twitter.com/realomarnavarro/status/1399204839247147017?lang=en">homophobic views</a>, has previously pushed the debunked Pizzagate theory. He told Insider: "I feel like there are certain things going on. There's something shady in that pizza shop."The Californian also defended using the popular QAnon slogan WWG1WGA ("Where we go one, we go all") in a tweet posted on October 3, 2020, saying he ended up deleting it because he didn't want Twitter to ban him."I always have to worry about my free speech and what I say on Twitter," he said.The fear of being removed from social media platforms is not holding back QAnon fan Jo Rae Perkins, who is running for the Senate in Oregon, where she unsuccessfully ran in 2020.Perkins, who discovered QAnon messaging boards in 2017 and describes them as a "source of information." She has also <a href="https://www.mediamatters.org/media/3845201">posted</a> a video of herself taking a "digital soldier oath" in front of a WWG1WGA sticker, <a href="https://edition.cnn.com/2020/08/22/politics/jo-rae-perkins-qanon-oregon-senate-race/index.html">CNN reported.</a>In a <a href="https://www.facebook.com/JoRaePerkins/videos/10212656828176113/">video interview with Right Wing Watch</a> last year, Perkins compared the "Q" posts to secret codes used during World War II and said believing in Q is like believing in Jesus Christ, <a href="https://www.vice.com/en/article/3aqkjv/qanon-already-has-19-followers-running-for-congress">VICE reported</a>. <h2>The camouflage candidates</h2>Around eight candidates have consistently and blatantly pushed elements of the QAnon conspiracy theory in the past but have, in some way, tried to distance themselves from it. These include <a href="https://twitter.com/BarnettforAZ/status/1294797667910918144">Josh Barnett</a>, <a href="https://www.thedailybeast.com/last-ditch-plot-to-sabotage-bidens-presidential-election-goes-full-qanon">Bobby Piton</a>, <a href="https://twitter.com/Johnheretohelp/status/1380577727292575744">Jon McGreevey</a>, and <a href="https://eu.northjersey.com/story/news/politics/elections/2020/10/15/bill-pascrell-and-billy-prempeh-vying-control-njs-9th-district/3655043001/">Billy Prempeh</a>.Most famously, firebrand Rep. <keyword id="9740457" type="UNKNOWN" weightage="60" keywordseo="marjorie-taylor-greene">Marjorie Taylor Greene</keyword>, the freshman Congressperson who <a href="https://abcnews.go.com/Politics/marjorie-taylor-greene-wins-house-gop-runoff-georgia/story?id=72316326">received the support of Former President Donald Trump</a> after her primary runoff victory in Georgia's 14th Congressional District, is one of these candidates.In the past, Greene has proliferated bizarre fantasies that are on-brand with the QAnon conspiracy theory.She has <a href="https://www.mediamatters.org/facebook/marjorie-taylor-greene-endorsed-deranged-conspiracy-theory-about-democrats-and-satanic">accused Hillary Clinton of sexually assaulting a child before slicing off her face and wearing it as a mask.</a> She once suggested that the late Supreme Court Justice <a href="https://www.mediamatters.org/supreme-court/marjorie-taylor-greene-2019-suggested-ruth-bader-ginsburg-was-replaced-body-double">Ruth Bader Ginsburg had been replaced by a body </a>double years ago, and has said that <a href="https://www.forbes.com/sites/brucelee/2021/01/30/did-rep-marjorie-taylor-greene-blame-a-space-laser-for-wildfires-heres-the-response/?sh=65910c3ce44a">California wildfires might have been started by space lasers</a>.<div type="image" title="marjorie taylor greene" height="2682" width="3576" msid="83892631" hostid="261"></div>Greene pushed these ideas so fervently that she became a "correspondent" for a conspiracy news website between 2017 and 2018, <a href="https://www.nbcnews.com/tech/tech-news/georgia-congressional-candidate-s-writings-highlight-qanon-support-n1236724">NBC News</a> reported. In <a href="https://web.archive.org/web/20180419234735/http://americantruthseekers.com/qanon-what-is-the-storm-and-is-there-about-to-be-an-awakening/">one of her posts</a> for the now-defunct "American Truth Seekers" website, the controversial lawmaker called Q a "patriot."She also told her social media followers that Q "is worth listening to" in a now-deleted video from 2017.But while Greene once proudly broadcast some of QAnon's wildest ideas, she has since tried to publicly distance herself from the conspiracy theory.In August 2020, Greene said that QAnon no longer represented her current position. "No, I don't [consider myself a QAnon candidate]. I think that's been the media's characterization of me," she told <a href="https://www.foxnews.com/politics/marjorie-greene-georgia-gop-says-shes-not-a-qanon-candidate">Fox News</a>.But that didn't stop Twitter from<a href="https://www.businessinsider.com/marjorie-taylor-greene-suspended-from-twitter-for-12-hours-2021-1"> temporarily locking her account in January 2021</a> when it culled QAnon accounts after the deadly Capitol riot.Rep. <keyword id="10543170" type="UNKNOWN" weightage="60" keywordseo="lauren-boebert">Lauren Boebert</keyword>, a contemporary of Greene and a rising star in the GOP, has also tried to walk back her support of the conspiracy theory she had formerly championed.Known to some as the "<a href="https://www.independent.co.uk/news/world/americas/us-election-2020/qanon-lauren-boebert-nancy-pelosi-capitol-riot-b1785663.html">QAnon Congresswoman,"</a> Boebert has said that she is <a href="https://www.theguardian.com/us-news/2020/jul/01/who-is-lauren-boebert-republican-primary-qanon-trump">"very familiar" with QAnon</a> and has praised the conspiracy theory. "Everything that I've heard of Q, I hope that this is real because it only means that America is getting stronger and better, and people are returning to conservative values," she said during <a href="https://www.npr.org/2020/07/01/885991730/gop-candidates-open-to-qanon-conspiracy-theory-advance-in-congressional-races">an appearance on QAnon web show SteelTruth</a> in May 2020.But after winning the Republican nomination for Colorado's 3rd District, she told <a href="https://kdvr.com/news/politics/colorado-primary-winner-lauren-boebert-meets-president-trump-distances-herself-from-qanon/">Fox 31 News</a> that she's "not a follower." She did not, however, disavow a central tenet of the QAnon ideology - that the "deep state" is actively working against Trump. "I believe there are people working in the administration that at least appear to be actively undermining President Trump," she said in 2020.<div type="image" title="AP lauren boebert" height="2670" width="3560" msid="83892632" hostid="261"></div>Publicly disavowing QAnon whilst continuing to advocate for some of the conspiracy theory's nonsensical beliefs is an oft-used "camouflage" tactic by the far-right, Media Matters president Angela Carusone told Insider.Some candidates might be doing so to appear more palatable to a wider audience and to avoid "political blowback" while maintaining their base of QAnon donors, he said."When candidates walk back their QAnon commitment, I think you have to view that with real skepticism," Carusone advised. "They do things in a careful and concerted way."<h2>QAnon is a political tool to raise money and attract voters</h2>While some candidates publicly disavow QAnon in a bid to appeal to a more mainstream audience, others subtly signal their support for it as a means to bring conspiracy theorists into the fold, to donate and vote for them."Many don't even mention Q directly," Jack Bratich, an associate professor of journalism and media studies at Rutgers University, told Insider. "It's become a kind of background story for adherents, who can signal to each other that they are part of this shadowy movement."Insider identified around a dozen candidates who have expressed their support for QAnon in less than explicit ways, via retweets, subtle nods to slogans, and the use of specific hashtags. These include Steve Von Loor, Tricia Flanagan, Sam Peters, and Anthony Sabatini.<div type="image" title="qanon sign dc" height="1000" width="1333" msid="83892633" hostid="261"></div>Several candidates included the hashtag #WWG1WGA in their tweets. Others included the letter "Q" in response to posts from QAnon-affiliated accounts.Tricia Flanagan, for example, <a href="https://twitter.com/NewDayForNJ/status/1246463861059919872">wrote "ThanQ"</a> in response to a QAnon account. Sam Peters used the <a href="https://twitter.com/SamPetersNevada/status/1290044418636935169">#QArmy hashtag</a> in August 2020."I'm certain that there are some of these individuals that don't actually care or believe in it, but they see it as an opportunity," Carusone said."I think there are some candidates who are certainly just being political," Carusone went on. "They're crassly seeing a potential political donor base or power base."<h2>QAnon is 'on the rise' in congressional <keyword id="6358883" type="UNKNOWN" weightage="100" keywordseo="politics">politics</keyword></h2>It's clear that the influence of QAnon in congressional politics is "on the rise," Carusone said. "And they're aggressively moving to take over parts of the Republican party, local committees, school boards, local races too."Bratich said it shows how deeply QAnon has "settled" into the Republican party. "As a movement, it has expanded to try and take over the party," he said. "It's not central to the GOP but it's no longer a marginal component either."QAnon is now a major force in American politics, Carusone agreed. "And, basically, I think we're kind of screwed."Here is a full list of all 36 QAnon supporters who are running for Congress in 2022. <ul><li>Josh Barnett, Arizona </li><li>Daniel Wood, Arizona</li><li>Jamie Byers, California</li><li>Mike Cargile, California</li><li>Ignacio Cruz, California</li><li>Peter Liu, California</li><li>Omar Navarro, California</li><li>Buzz Patterson, California</li><li>Lauren Boebert, Colorado</li><li>Darren Aquino, Florida</li><li>Vic DeGrammont, Florida</li><li>Luis Miguel, Florida</li><li>Christine Quinn, Florida</li><li>Anthony Sabatini, Florida</li><li>Christine Scott, Florida</li><li>Reba Sherrill, Florida</li><li>Lavern Spicer, Florida</li><li>Darlene Swaffar, Florida</li><li>Marjorie Taylor Greene, Georgia</li><li>Bobby Piton, Illinois</li><li>Philanise White, Illinois</li><li>Jon McGreevey, Maryland</li><li>Danielle Stella, Minnesota</li><li>Sam Peters, Nevada</li><li>Mindy Robinson, Nevada</li><li>Tricia Flanagan, New Jersey</li><li>Billy Prempeh, New Jersey</li><li>Antoine Tucker, New York</li><li>Steve Von Loor, North Carolina</li><li>JR Majewski, Ohio</li><li>Mark Pukita, Ohio</li><li>Joe Rae Perkins, Oregon</li><li>Bobby Jeffries, Pennsylvania</li><li>Robert Lancia, Rhode Island</li><li>Mayra Flores, Texas</li><li>Jonny Teague, Texas</li></ul>

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