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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.

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Posts from Richard Murphy at Tax Research UK

  • Potential
    on 27 June 2026 by Richard Murphy

    For the background to this post, please read this companion piece.  Imagine you are alone on a desert island. You have nothing. You have a Read the full article...

  • Progress
    on 27 June 2026 by Richard Murphy

    I had a pain-free day yesterday. After the six previous days, that was blissful. That said, I am not pretending that the problem I have Read the full article...

  • Enshittification
    on 27 June 2026 by Richard Murphy

    This video on enshittification from The Norwegian Council is brilliant: The term enshittification was created by Cory Doctorow to describe the process where online services and Read the full article...

  • Questions we need to ask
    on 26 June 2026 by Richard Murphy

    I am shamelessly using material where I can find it right now - without apology, and this post is based on a comment by RobertJ, Read the full article...

  • Nye Bevan would have been furious
    on 26 June 2026 by Richard Murphy

    I could not help but notice that Addenbrooke’s Hospital, as part of Cambridge University Hospitals, claims, all over the place, that the three pillars of Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • Australian labour market – slight improvement after dismal results in April
    on 25 June 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (June 25, 2026) – Labour Force, Australia – for May 2026 – which showed that the labour market improved slightly in May after a poor showing in the April figures. However, there are now 10.2 per cent of available labour not being…

  • Replacing Starmer/Reeves with another captive of the finance sector will change nothing
    on 22 June 2026 by bill

    Successive governments in the UK – Labour and Tory – have pushed the nation to the brink where there is little capacity left for progressive policy. And I am not referring to Brexit. Rather, the elevation of the financial sector as a primary force in the economy, dating back really to the Callaghan Labour government…

  • Towards a progressive rebuttal of the far Right narratives
    on 18 June 2026 by bill

    I saw a clip from John Stewart’s Daily Show yesterday where he showed some Fox News commentators (I think) talking about how they hate ‘woke’ and how they now have to put up with public events featuring “half naked men” (their slight against the gay community). Stewart then showed the next clip – the cage…

  • Can capitalism survive? Not if we want to solve the climate and poverty crisis
    on 15 June 2026 by bill

    The opening line of Part II of Joseph Schumpeter’s 1942 book – Capitalism, Socialism and Democracy – was “Can capitalism survive? No, I do not think it can”. His thesis was not that capitalism would perform badly, quite the opposite. Rather the considered that “its very success undermines the social institutions which protect it, and…

  • Apparently the UK government is about to do the impossible – run out of sterling
    on 11 June 2026 by bill

    Go back to the headlines in 2010 – – “Countries with debt over 90 percent of GDP enter a danger zone”. The 90 per cent threshold entered the media coverage as a result of a paper released by Harvard economists Ken Rogoff and Carmen Reinhart – Growth in a Time of Debt. That paper talked…

More Bill Mitchell @ billmitchell.org

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