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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

  • Economic myths: perfect competition
    on 31 October 2025 by Richard Murphy

    I have added this entry to this blog's glossary, it being a myth within neoclassical economics.  Perfect competition Neoclassical economics textbooks suggest that under “perfect Read the full article...

  • The significance of Mr Mountbatten-Windsor
    on 31 October 2025 by Richard Murphy

    The significance of the charlatan previously known as Prince Andrew being stripped of all his royal titles and being thrown off the Windsor estate yesterday Read the full article...

  • The growth delusion
    on 31 October 2025 by Richard Murphy

    Martin Wolf of the FT said this week that only economic growth can save democracy. Yet his economics serves only the wealthy. When workers are Read the full article...

  • In progress
    on 30 October 2025 by Richard Murphy

    I thought I would summarise what work is in progress here right now. Significant themes in development are: An alternative budget, which will come out Read the full article...

  • The state of right wing thinking on the economy
    on 30 October 2025 by Richard Murphy

    It's important to be reminded what right-wing thinking about Britain really is every now and again. The reason is that in recent decades, where right-wing Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • Japan – errant fiscal rule is sure to backfire
    on 30 October 2025 by bill

    The Prime Minister’s Office of Japan has now released the transcript of the – Policy Speech by Prime Minister TAKAICHI Sanae to the 219th Session of the Diet (October 24, 2025). This was here first major speech after taking on the office of Prime Minister and allows us to see some detail beyond the rather…

  • Kyoto Report 2025 – 5
    on 28 October 2025 by bill

    This Tuesday report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. Running peace Here is a scene from one of my running…

  • Japan challenges – is there really a labour shortage? – Part 6
    on 27 October 2025 by bill

    This blog post continues my exploration of the available productive resources in Japan which would allow a nominal fiscal expansion to be accommodated without adding to the inflationary pressures. People consistently point to the low official unemployment rate as a proxy for a shortage of labour in Japan. It is good that the official unemployment…

  • Japan challenges – is there really a labour shortage? – Part 5
    on 23 October 2025 by bill

    I do not have much time to write today as I am moving house later this afternoon and have a few work meetings to attend before that. So the next topic might take two shorter parts. As predicted, Ms Takaichi became the first female Prime Minister for Japan on Tuesday after consolidating a coalition with…

  • Kyoto Report 2025 – 4
    on 21 October 2025 by bill

    This Tuesday report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. Tokyo Event – November 6, 2025 I will be speaking at…

More Bill Mitchell @ billmitchell.org

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