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
- Economic questions: The David Graeber questionon 14 November 2025 by Richard Murphy
This is one of a series of posts that will ask what the most pertinent question raised by a prominent influencer of political economy might have been, Read the full article...
- Young people are alienated by neoliberalismon 14 November 2025 by Richard Murphy
As the FT notes today, in another excellent article by John Burns-Murdoch: In the UK [the number of] ... young people who are increasingly disengaged Read the full article...
- The lull before the stormon 14 November 2025 by Richard Murphy
The surreal sense that we are living through a moment that will, in retrospect, be seen to be the lull before an enormous economic storm Read the full article...
- The PDF Shopon 14 November 2025 by Richard Murphy
There is a new feature on this site this morning. We now have what I am calling a PDF shop. It is also called Downloads Read the full article...
- Why Reeves’ November budget is already brokenon 14 November 2025 by Richard Murphy
Rachel Reeves plans to deliver a budget on 26 November — but how can she do that when the Labour government is falling apart? Cabinet Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Australian labour market – slight improvement after two bad monthson 13 November 2025 by bill
For the last two months, the Australian labour market has gone backwards. The deterioration seems to have stabilised in October. The Australian Bureau of Statistics (ABS) released the latest labour force data today (November 13, 2025) – Labour Force, Australia – for October 2025, which reveals a slight drop in official unemployment and underemployment and…
- Kyoto Report 2025 – 7on 11 November 2025 by bill
This Tuesday 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. Xmas comes early in Japan For a mostly unchristian nation –…
- IMF comes late to the party but then cannot quite admit iton 10 November 2025 by bill
In an early blog post – Inflation targeting spells bad fiscal policy (October 15, 2009) – I outlined prior research that I had done on the issue of inflation targetting (IT). In my 2008 book with Joan Muysken – Full Employment abandoned – we provided further analysis on the issue. We found that there was…
- Kyoto Report 2025 – 6on 4 November 2025 by bill
This Tuesday 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. Time is passing and the weather has now turned cold –…
- Supply-side employment services models fail and promote sociopathson 3 November 2025 by bill
One of the ways in which neoliberal dogma altered the relationship between government and the citizens in Australia was in the way employment services were delivered. Before this dogma gained traction, the Australian government operated the – Commonwealth Employment Service (CES) – which was created in 1946 as part of the grand plan to sustain…
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







