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
- Venezuela, war, and Trump
on 3 January 2026 by Richard MurphyThe USA is at war with Venezuela this morning. It is bombing Caracas. There are reports that the Venezuelan President Nicolás Maduro has been abducted Read the full article...
- By the light of the morning moon
on 3 January 2026 by Richard MurphyLast night's near full moon, seen this morning, bathed in the reflection of the sun, which had only just risen:
- Going shorton 3 January 2026 by Richard Murphy
As I mentioned in a video earlier this week, one of our plans for this year is to expand our output on short-form video platforms. Read the full article...
- AI on the scale now envisaged will create a recession on a scale hard to imagineon 3 January 2026 by Richard Murphy
Project Syndicate published an article by Simon Johnson and Piero Novelli about a month ago in which they discussed AI. This is a recurring theme of mine Read the full article...
- Trump: the greatest threat in 2026on 3 January 2026 by Richard Murphy
2026 opens in a world more fragile than at any point since 1945. This video explains why — and why the risk is not personality, Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- My blog has gone on holidayson 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…
- Video – Japan at a Crossroads: Fiscal Policy, China, and the Growthon 22 December 2025 by bill
I have limited time today to write a blog post and last night I was sent a new video that I recently recorded with my research colleague at Kyoto University, Professor Fujii where we talk for some hours on the topic – Japan at a Crossroads: Fiscal Policy, China, and the Growth. It was a…
- Trump’s “best is yet to come” and the data reality are diverging – for the worse!on 18 December 2025 by bill
I haven’t provided detailed commentary on the US labour market for a while now. To some extent the month-to-month changes are not that interesting but after a lapse, discernible trends can be detected. The US President is about to give a national address today in the context of declining poll popularity and a series of…
- The US attack on Europe misses the point entirelyon 15 December 2025 by bill
The other day I was asked whether I was happy that the US President was finally saying things that I have been noting for years. The reference to Trump was, on interrogation, based on the US government analysis of Europe that appeared in the so-called – National Security Strategy of the United States of America…
- Australian labour market – considerably weaker in November (not even close to full employment)on 11 December 2025 by bill
I should remind myself not to listen to the media (even the public broadcaster) when the Australian Bureau of Statistics (ABS) releases the latest labour force data – Labour Force, Australia – for November 2025 – as it did today (December 11, 2025). The commentary immediately after that data release today was the exemplification of…
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