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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

Posts from Bill Mitchell – Modern Monetary Theory

  • Kyoto Report 2026 – 5
    on 27 October 2026 by bill

    This weekly 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. A seeming tyranny This bit is to be interpreted as a…

  • The intersection of neoliberalism and traditional Japanese values – Part 2
    on 26 October 2026 by bill

    Neoliberalism has scammed everyone. It told citizens that if we were liberated from government regulations and government control of enterprises that delivered essential services then we would attain the best possible outcomes that were available. A barrage of messaging from media companies blatantly serving the interests of capital and think tanks masquerading as independent research…

  • The intersection of neoliberalism and traditional Japanese values – Part 1
    on 22 October 2026 by bill

    In the West, particularly the English-speaking world, neoliberalism seemed to easily replace the collectivist values of the full employment era that followed the Second World War. It constructed a world where individualism was prioritised over society, even though it claimed that society (all of us) would be better off by pursuing our own greedy interests.…

  • Kyoto Report 2026 – 4
    on 20 October 2026 by bill

    This weekly 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. Signs I come across I had to go down into central…

  • French protests reflect the dysfunctional architecture of the common currency
    on 19 October 2026 by bill

    The social instability in France is now spreading throughout Europe. Already there are mass protests in Spain and Portugal, Belgium, Italy, and Albania. In France, initially students began protesting over conditions in the schooling system, but the grievances and parties involved have broadened out and the increasingly chaotic scenes in Paris have spread out to…

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