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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.

Posts from Richard Murphy at Tax Research UK

Posts from Bill Mitchell – Modern Monetary Theory

  • AI is is fast becoming another control tool of capitalism
    on 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 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…

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