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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

  • Infographic: the sectoral balances
    on 12 July 2026 by Richard Murphy

    My experimentation with infographics has continued. I used a more obscure subject, the sectoral balances. And I made four versions in light of the comments Read the full article...

  • The infographics
    on 12 July 2026 by Richard Murphy

    Two of the questions asked of me yesterday regarding the infographic diagrams I posted were whether they were easy to make and what I was Read the full article...

  • Debate Ammunition: The National Security (State Threats) Bill
    on 12 July 2026 by Richard Murphy

    THE RICHARD J MURPHY YOUTUBE CHANNEL DEBATE AMMUNITION The National Security (State Threats) Bill: A Threat to Information Itself Funding the Future | July 2026 Read the full article...

  • Are we heading for censorship?
    on 12 July 2026 by Richard Murphy

    Parliament is on the verge of passing the National Security (State Threats) Bill, and I think far too few people understand what it could mean. Read the full article...

  • Your opinion, please
    on 11 July 2026 by Richard Murphy

    A lot of people have said positive things about the new visual image presentations of arguments I have tried over the last couple of days. Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • Bank of International Settlements pushing the ‘growth friendly austerity’ myth
    on 9 July 2026 by bill

    I have been ‘at it’ for decades now but it never ceases to amaze me how mainstream macroeconomic analysis is carried out and the way the public just accepts the conclusions without understanding the basis on which the analysis generates those conclusions. Chapter II in the BIS Annual Economic Report (released June 28, 2026) –…

  • Depreciating yen – look beyond the obvious for the explanation
    on 6 July 2026 by bill

    The editorial in The Japan Times (July 3, 2026) – Little hope for a declining yen amid structural pressures – is an example of how mainstream commentators seize on superficial facts, apply some ideology, and come up with the wrong conclusion. As I have noted many times, the challenges facing Japan are many, not the…

  • What the new British government needs to do to get the unions on side with climate action
    on 2 July 2026 by bill

    The recent extreme weather in the northern hemisphere, the twin monster tropical storms in Japan, the impending shutdown of the – Atlantic meridional overturning circulation (Amoc) – among other happenings is telling us that things are changing for the worse. Clearly long-term weather trends are open to interpretation because the available data is sketchy the…

  • Apparently the RBA has the interests of the unemployed it is putting out of work at heart. Not!
    on 29 June 2026 by bill

    Economics and business correspondents regularly serve as apologists for poor policy. Their motivation is to file a story and often they take the easy way out by paraphrasing press releases put out by some conservative think tank, or economist, or corporation without any critical scrutiny being applied and then masquerade their article as opinion. The…

  • Australian labour market – slight improvement after dismal results in April
    on 25 June 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (June 25, 2026) – Labour Force, Australia – for May 2026 – which showed that the labour market improved slightly in May after a poor showing in the April figures. However, there are now 10.2 per cent of available labour not being…

More Bill Mitchell @ billmitchell.org

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