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
- Trump’s crash is coming now – his latest tariff announcements mean it is unavoidableon 12 July 2025 by Richard Murphy
As the New York Times reported yesterday afternoon: President Trump on Saturday released letters imposing new 30 per cent tariffs on imports from Mexico and Read the full article...
- HSBC is going to profit from destroying everything of valueon 12 July 2025 by Richard Murphy
Big businesses' shallow faith in ethical capitalism and the need to challenge climate change became more apparent yesterday. As the Guardian reported: HSBC has become Read the full article...
- The FT’s big issue: the crisis in the market for butlerson 12 July 2025 by Richard Murphy
The FT has reported: The exodus of wealthy UK residents following last year’s Budget has hit the market for butlers, housekeepers and security guards in Read the full article...
- Why are Labour MPs so complacent about genocide?on 12 July 2025 by Richard Murphy
As the Guardian has noted: Nearly 60 Labour MPs have demanded the UK immediately recognises Palestine as a state, after Israel’s defence minister announced plans to force Read the full article...
- How much is this blog worth to you?on 12 July 2025 by Richard Murphy
As someone called Tom. B said on this blog recently: The more right wing, now pretty much establishment corner of the internet is better funded, Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Treasurer, please sack the RBA governor and the Monetary Policy Board members – they have gone rogueon 10 July 2025 by bill
Once again the Reserve Bank of Australia has gone rogue. On Tuesday (July 8, 2025), it held its cash rate target (the interest rate that expresses its monetary policy stance) constant at 3.85 per cent despite all the indicators suggesting that it would cut that target rate. The financial markets are in uproar because they…
- The Eurozone Member States are not equivalent to currency-issuing governments in fiscal flexibilityon 7 July 2025 by bill
I don’t have much time today for writing as I am travelling a lot on my way back from my short working trip to Europe. While I was away I had some excellent conversations with some senior European Commission economists who provided me with the latest Commission thinking on fiscal policy within the Eurozone and…
- British Labour Government should ignore irrelevant fiscal ‘black holes’ and worry about the political hole it is digging for itselfon 3 July 2025 by bill
The lack of correspondence arises when a government tries to operate within the tight constraints of unjustifiable fiscal rules by proposing legislation that cuts billions in government support for programs that are the difference between abject poverty for millions and a modest standard of living is once again coming to the fore in Britain. The…
- No blog post today – travelling all dayon 29 June 2025 by bill
As the ballistic missiles between Iran and Qatar seem to have gone quiet for the time being I am making another attempt to get to Europe today for work commitments. Last week, my flights were cancelled due to the disruptions around Doha Airport. Anyway, fingers crossed. I will be back writing here again on Thursday,…
- Australia – the inflation spike was transitory but central bankers hiked rates with only partial informationon 26 June 2025 by bill
The Australian Bureau of Statistics (ABS) released the latest CPI data yesterday (June 26, 2025) – Monthly Consumer Price Index Indicator – for May 2025, which showed that the annual underlying inflation rate, which excludes volatile items continues to fall – from 2.4 per cent to 2.1 per cent. The trimmed mean rate (which 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