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
- MMT v Keynes? Who is the winner?on 2 September 2025 by Richard Murphy
We put out this short version of this morning's video this evening. Some might find the short version of use: Keynes vs MMT is one Read the full article...
- For the first time ever, I am frightened of our politicianson 2 September 2025 by Richard Murphy
As I wrote in The National yesterday: SOMETIME in the middle of last week, it occurred to me that I have good reason to be Read the full article...
- Might Zak Polanski provide a moment (or more) of hope?on 2 September 2025 by Richard Murphy
Zack Polanski has emphatically won the Green Party leadership with over 20,000 votes, compared to fewer than 4,000 for his rivals. As readers here will Read the full article...
- Shuffling deckchairson 2 September 2025 by Richard Murphy
Do you remember the days when Keir Starmer and Rachel Reeves were inseparable? It is a little over a year ago that they claimed that Read the full article...
- Our government is not defending uson 2 September 2025 by Richard Murphy
As The Guardian reports this morning: Prominent women including cultural figures, politicians and campaigners have signed a letter criticising rightwing attempts to link sexual violence Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- The struggles to teach political economy and the aftermath – we all loston 1 September 2025 by bill
I started my undergraduate studies in economics in the late 1970s after starting out as an Arts student in the early 1970s studying philosophy, politics, history, anthropology and statistics. The Vietnam War movement and other things interrupted my first years of studies and it wasn’t until the Federal government introduced the National Employment and Training…
- The Smith Family MMT Manga – Episode 3 for Season 3 is now availableon 29 August 2025 by bill
Episode 3 in the third season of our Modern Monetary Theory (MMT) manga – The Smith Family and their Adventures with Money – produced by MMTed is now available (August 29, 2025). The Smith Family is a middle-class family living in a city somewhere in the world. The second-generation parents are university educated and have…
- Australia’s unemployment rate is well above any reasonable full employment levelon 28 August 2025 by bill
Central banks around the world tightened interest rates starting late 2021 in some places and there was a systematic period of hikes over the next year or more despite the inflationary pressures mostly showing signs of abatement as a result of factors that were not sensitive to the rising interest rates. In Australia, the RBA…
- Cryptocurrencies are not currencieson 25 August 2025 by bill
I often get asked about cryptocurrency. And I immediately become bored. The sort of claims that people have made about this phenomenon, which is historically just another speculative asset, are over-the-top to say the least. There are two realities that seem to be ignored. First, we already have mainstream digital money and have had for…
- Basing a childcare system on how much private profit it generates is a recipe for certain disasteron 21 August 2025 by bill
We knew in the 1980s, when neoliberal-influenced governments started selling off public trading enterprise for not much that the strategy would not deliver on its promises. At least some of us knew and wrote about it then. I was part of a team that analysed the disasters that would follow the sell off of the…
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