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
- AI and the Budgeton 21 November 2025 by Richard Murphy
One to watch for in next week's Budget and associated forecasts is the suggested impact of AI on employment rates in the UK. The FT Read the full article...
- Covid: the Tories deserve all the criticism they’re gettingon 21 November 2025 by Richard Murphy
The Tories' response to Covid in March 2020 was chaotic and indecisive, according to the official report on the issue. The Guardian notes: “Too little Read the full article...
- The Top 250 Blogpost Liston 21 November 2025 by Richard Murphy
There is a new page on this blog today. You can find it from the main menu. That has got three lines on it, top Read the full article...
- Alternatives to neoliberalismon 21 November 2025 by Richard Murphy
There has been some criticism here of my overuse of the term 'neoliberalism', which, it has been suggested, is not widely understood beyond the environs Read the full article...
- The Alternative Budget 2025, Part 6: Addressing issues in housingon 21 November 2025 by Richard Murphy
Rachel Reeves will be presenting her Budget on November 26, if the Labour government of which she is a part lasts that long. I will be Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Japan GDP growth contracts as politicians fight it out over size of fiscal stimuluson 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 – 8on 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 dealson 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 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 –…
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





