Welcome to MMT works

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

  • The struggles to teach political economy and the aftermath – we all lost
    on 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 available
    on 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 level
    on 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 currencies
    on 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 disaster
    on 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

Accessibility Toolbar