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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

  • How to campaign with Funding the Future?
    on 16 January 2026 by Richard Murphy

    A recent comment from RobertJ on this blog made me smile, and then made me think. He wrote of Funding the Future: Topsy has growed Read the full article...

  • Glossary entry: Globalisation
    on 16 January 2026 by Richard Murphy

    It was pointed out to me earlier this week that the glossary lacked an entry on globalisation. The following list makes up for that deficiency. Read the full article...

  • Farage unravelled
    on 16 January 2026 by Richard Murphy

    I watched too much television news last night. There was much coverage of Badenoch's sacking of Jenrick. And then there was the Reform show as Read the full article...

  • The day of the dollar: is it over?
    on 16 January 2026 by Richard Murphy

    Is the US dollar losing the trust required of a global reserve currency? The dollar isn’t just America’s currency. It is the plumbing of global Read the full article...

  • Toxic Tories
    on 15 January 2026 by Richard Murphy

    We posted this video before midday today, but another recording delayed me from sharing it here. The transcript is as follows: How toxic do you Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • Curbing the freedom of writers will not advance human rights
    on 15 January 2026 by bill

    Today’s blog post is a little different to my usual posts because I am writing it as a writer rather than as an economist. I write tens of thousands of words every year and have done so for many years. People have asked me whether I enjoy spending my time in that way, given that…

  • India’s employment guarantee sabotaged to the point of extinction by the neoliberal Narendra Modi
    on 12 January 2026 by bill

    I have closely followed the progress of India’s – Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) – since its inception on September 7, 2005. The scheme has been a major success in reducing rural poverty and providing income security to poor rural communities in India. It has also reduced the so-called ‘desperation migration’ from…

  • Is there hope for a post neoliberal world?
    on 8 January 2026 by bill

    I grew up in a society where collective will was at the forefront and it is true to say people looked out for each other. The state – at all levels – had various policy structures in place to provide levels of economic protection for the least advantaged members of society. Having grown up in…

  • 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 is always non-linear – the last few months are 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…

More Bill Mitchell @ billmitchell.org

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