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.
Posts from Richard Murphy at Tax Research UK
- MMT is a theory, just as gravity is
on 29 January 2026 by Richard MurphyI recently made a video explaining modern monetary theory, albeit not for the first time. What we did note when that video was complete was Read the full article...
- The centre has not heldon 29 January 2026 by Richard Murphy
The centre ground in British politics is dead, most especially if that so-called centre ground is described as the space occupied by Labour governments over Read the full article...
- Labour: the friend of cheats, crooks, and conpeopleon 29 January 2026 by Richard Murphy
As AccountingWEB (of which I was for a decade at the start of the century a contributing editor) noted yesterday: The expected timeline for small Read the full article...
- The S&P 500 at 7,000: the insanity of stock markets continues
on 29 January 2026 by Richard MurphyThe S&P 500 stock market index in the USA went above 7,000 for the first time yesterday. It only happened briefly, but it is worth Read the full article...
- Rebuilding the High Street with the politics of careon 29 January 2026 by Richard Murphy
An economy that removes agency from communities should not be surprised when people disengage from politics. That is why warnings that Labour risks electoral wipe-out Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Japan goes to an election accompanied by a very confused economic debateon 29 January 2026 by bill
These notes will serve as part of a briefing document that I will send off to some interested parties in Japan. Japan is about to go to the poll for a snap national election on February 8. The recently installed Prime Minister, Ms Takaichi is betting that her recent solid showing in the polls will…
- Recent extended discussion with RadioMMT – Part 1on 26 January 2026 by bill
It is a public holiday in Australia today celebrating our national day – the day that the colonial powers of Britain first decided to set us up as a penal colony because they had run out of prison space in the old country due to the massive incarceration rates following the enclosures. The impoverished small…
- Australian labour market – stronger as employment growth outstrips the growth in the working age populationon 22 January 2026 by bill
Today (January 22, 2026), the Australian Bureau of Statistics (ABS) released the latest labour force data – Labour Force, Australia – for December 2025 – which showed a relatively strong increase in employment and the rising participation rate – both good signs. Taken together the demand-side of the labour market outstripped the growth in the…
- AI is is fast becoming another control tool of capitalismon 19 January 2026 by bill
My friend Alan Kohler, who is the finance presenter at the ABC, wrote an interesting article today about AI (January 19, 2026) – AI platforms like Grok are an ethical, social and economic nightmare — and we’re starting to wake up – in which he argued that while he thought climate change was “humanity’s biggest…
- Curbing the freedom of writers will not advance human rightson 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…
Other Modern Money Theory Proponents
Other MMT Discussion
- MMT For the British People (Facebook group)
- Modern Money Theory (MMT) Australia (Facebook group)
- Modern Money Theory Dank Meme Stash (Facebook group)
- Intro to MMT – Modern Monetary Theory (Facebook group)
- MMT Podcast (Christian Reilly) (Twitter)
- Activist #MMT, the podcast (Twitter)
- Money on the Left (Twitter) (Web site)
- MMT France (En français)
- Stephanie Kelton @ The Lens/Substack
- Modern Monetary Theory by Brooke Clarke