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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

  • Israel is a rogue state
    on 26 April 2026 by Richard Murphy

    Israel is a rogue state. Its wars in Gaza, the West Bank, Lebanon, and Iran have no justification in international law. More than 70,000 civilians Read the full article...

  • Off
    on 25 April 2026 by Richard Murphy

    Having posted this morning’s video, I am now taking the day off. Some of the Funding the Future team will be at a national model Read the full article...

  • A financial crash is coming
    on 25 April 2026 by Richard Murphy

    The FTSE 100 and S&P 500 are near record highs. The real economy is deteriorating. And the Bank of England's Deputy Governor for Financial Stability, Read the full article...

  • 2026 has the potential to be very much worse than even I expect.
    on 24 April 2026 by Richard Murphy

    The Guardian reports this today, reflecting the fact that my opinion that stock exchanges are overvalued is now shared by the Bank of England: Stock Read the full article...

  • Is the UK past its sell by date?
    on 24 April 2026 by Richard Murphy

    It is a truth, universally acknowledged, that a Prime Minister in office beyond their use-by date fails to recognise that fact, and has to be Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • Robert Skidelsky death – some recollections
    on 23 April 2026 by bill

    The biographer of Keynes in three volumes – Robert Skidelsky – died on April 15, 2026 at the age of 84. As I explain below, Skidelsky was what we consider to be a mainstream ‘deficit dove’, who are Keynesian and Post Keynesian economists that are comfortable with using fiscal deficits to increase economic activity when…

  • A classic case of the Australian government denying that it is the Australian government
    on 20 April 2026 by bill

    Most of the examples of fiscal austerity leave one puzzled as a result of the sheer myopia that is usually present – the ‘save a penny today to spend a dollar tomorrow’ sort of nonsense that history tells us repeats when governments try to reduce spending in areas that it should not. But sometimes one…

  • Australian labour market – largely stable but dark clouds present
    on 16 April 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (APRIL 16, 2026) – Labour Force, Australia – for March 2026 – which showed that the labour market steadied after last month’s contraction. While employment growth remained positive and was dominated by full-time work gains (as part-time employment fell), the fact that…

  • A structured approach for progressive political ambitions – Part 7
    on 13 April 2026 by bill

    This is Part 7 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the British Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the…

  • A structured approach for progressive political ambitions – Part 6
    on 9 April 2026 by bill

    This is Part 6 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the British Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the…

More Bill Mitchell @ billmitchell.org

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