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
- Why are the Tories obsessed with inheritance tax?
on 6 October 2026 by Richard MurphyThere is something quite extraordinary about the Conservative Party apparently deciding that cutting inheritance tax should be a centrepiece of its attempt to recover its Read the full article...
- Will an AI bubble burst be the time when MMT rolls out?on 6 October 2026 by Richard Murphy
A story in the FT this morning suggests that the insurance industry is preparing for potentially multimillion-dollar claims arising from AI agents acting beyond their Read the full article...
- Badenoch’s Right Way is wrongon 6 October 2026 by Richard Murphy
Kemi Badenoch has set out her vision for a new Conservatism in ‘The Right Way’. Its central argument is that government should do less while Read the full article...
- It’s time to nationalise our web infrastructureon 5 October 2026 by Richard Murphy
As the Telegraph reports this morning: BT has rescued TalkTalk from administration in a £400m deal that raises competition concerns. The FTSE 100 telecoms giant Read the full article...
- Reshaping thinkingon 5 October 2026 by Richard Murphy
The event that we held in Ely on Saturday was, I think, a success. My team assured me they felt this way, and I have Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Kyoto Report 2026 – 2on 6 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. The weather is cooler than it has been and the last…
- Is a high-pressure economy strategy in Japan viable?on 5 October 2026 by bill
I am currently working on developing models that help evaluate the constraints on fiscal expansion in Japan arising from the ageing workforce in the construction sector. The current government under Ms. Takaichi is pursuing what they call a “responsible proactive fiscal policy” that aims to utilise large-scale public investment spending to crowd-in private investment expenditure…
- Kyoto Report 2026 – 1on 30 September 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. For the next several weeks I am working once again at…
- RBA Monetary Policy Board member refutes on-going claims from the RBA governor about unemploymenton 27 September 2026 by bill
On September 22, 2026, a member of the Monetary Policy Board of the Reserve Bank of Australia (RBA) gave a speech – A Wage-price Spiral: What are the Chances? – at Melbourne University. The tenor of his presentation was that despite the constant recent claims about wages pressures emanating from a labour market that is…
- Australian labour market – full-time jobs decline as unemployment continues to riseon 24 September 2026 by bill
The labour market contraction that I have been signalling for the last two months continued in August. The Australian Bureau of Statistics (ABS) released the latest labour force data today (September 24, 2026) – Labour Force, Australia – for August 2026 – which showed that the labour market deteriorated further in August, in that full-time…
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