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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.

Posts from Richard Murphy at Tax Research UK

Posts from Bill Mitchell – Modern Monetary Theory

  • Corporate welfare is rife in Japan’s banking sector
    on 24 November 2025 by bill

    I am travelling a lot today so I am typing this up in between segments. I met a journalist in Tokyo on Friday and we discussed various matters relating to the current policy debate in Japan. In addition, we discussed the latest situation for the Japanese banking sector and the fact that they are recording…

  • Japan GDP growth contracts as politicians fight it out over size of fiscal stimulus
    on 19 November 2025 by bill

    I am travelling today to Tokyo and have little time to write here. But with the latest national accounts data coming out on Monday (November 17, 2025), the discussions within the government are about the size of the fiscal stimulus that will be initiated in the next fiscal round. This The Japan Times article (November…

  • Kyoto Report 2025 – 8
    on 18 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. Friday – tea break – where else? Friday’s weather was again…

  • The achievement of a degrowth future requires system change not green new deals
    on 17 November 2025 by bill

    When I was just coming into adulthood (1972), the – Club of Rome – published its famous – The Limits to Growth – which focused on the consequences of “exponential economic and population growth with a finite supply of resources”. It was a very influential research document generally, but also very important in shaping the…

  • Australian labour market – slight improvement after two bad months
    on 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…

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