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What is Modern Money Theory (MMT)?

MMT describes how the economy works. Although MMT does not prescribe government policy, there are some “natural” consequences. Some MMT core points are below.

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Posts from Richard Murphy at Tax Research UK

  • The President of Venezuela did some bad things too
    on 5 January 2026 by Richard Murphy

    I was amused by this on LinkedIn: Humour is a justifiable way of addressing an issue where there are few certainties and much that we Read the full article...

  • Capital is not just about finance
    on 5 January 2026 by Richard Murphy

    Why is infrastructure crumbling, care failing, and democracy under strain? In this video, I explain two concepts that quietly shape everything around us and help Read the full article...

  • We have to live in hope
    on 4 January 2026 by Richard Murphy

    One of the things that I learned a very long time ago was that if you want to succeed at something, you have to do Read the full article...

  • Who cares now?
    on 4 January 2026 by Richard Murphy

    Yesterday, the USA showed it cares nothing for the international order. Who will care now for Gaza? The West Bank? Ukraine? Greenland? Canada? The Baltic Read the full article...

  • Venezuela and freedom from fear
    on 4 January 2026 by Richard Murphy

    As every reader must know now, the United States has used military force against Venezuela, following years of escalating sanctions, diplomatic pressure, and explicit threats Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • When contraction is called expansion – Japanese government style
    on 5 January 2026 by bill

    Well my holiday is over. Not that I had one! This morning we submitted the manuscript to the publisher for the Second Edition of our Macroeconomics text, which will come out later this year. Finishing a massive project like that always is non-linear – the last few months is hideous – checking everything and filling…

  • My blog has gone on holidays
    on 25 December 2025 by bill

    My blog is on holiday until Tuesday, January 6, 2026. We are planning to finish the manuscript for the Second Edition of our Macroeconomics textbook by year’s end and that is what I am working fervently on in the next week. I am also preparing for a conversation next week with the Post-Neoliberalism Oral History…

  • Video – Japan at a Crossroads: Fiscal Policy, China, and the Growth
    on 22 December 2025 by bill

    I have limited time today to write a blog post and last night I was sent a new video that I recently recorded with my research colleague at Kyoto University, Professor Fujii where we talk for some hours on the topic – Japan at a Crossroads: Fiscal Policy, China, and the Growth. It was a…

  • Trump’s “best is yet to come” and the data reality are diverging – for the worse!
    on 18 December 2025 by bill

    I haven’t provided detailed commentary on the US labour market for a while now. To some extent the month-to-month changes are not that interesting but after a lapse, discernible trends can be detected. The US President is about to give a national address today in the context of declining poll popularity and a series of…

  • The US attack on Europe misses the point entirely
    on 15 December 2025 by bill

    The other day I was asked whether I was happy that the US President was finally saying things that I have been noting for years. The reference to Trump was, on interrogation, based on the US government analysis of Europe that appeared in the so-called – National Security Strategy of the United States of America…

More Bill Mitchell @ billmitchell.org

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