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
- We’re not living in an economy where politics for people matters
on 5 February 2026 by Richard MurphyThe Bank of England has kept its base rate at 3.75%, even as this is driving unemployment upward. The Bank of England claims it is Read the full article...
- Politics for People: an updateon 5 February 2026 by Richard Murphy
The team here had another meeting this morning and reviewed all the feedback (including a few not even through moderation as yet due to the Read the full article...
- The rise of the watermelons
on 5 February 2026 by Richard MurphyIf you were once left of centre in the UK, you thought of Labour as your natural political home. You do not any longer. That Read the full article...
- What have Reform to do with Epstein?on 5 February 2026 by Richard Murphy
The National newspaper, for which I am a columnist, reported this last night: REFORM UK are under pressure to explain why their treasurer appears numerous Read the full article...
- Is the monarchy over?on 5 February 2026 by Richard Murphy
I have already asked this morning whether Keir Starmer's career is over as a consequence of the Epstein scandal. So let me ask another question Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- RBA bows to financial market pressure and boost bank profits at the expense of low-income mortgage holderson 5 February 2026 by bill
The Reserve Bank of Australia (RBA) increased the policy rate by 0.25 points on Tuesday and claimed that it was because the inflationary outlook was in danger of accelerating out of control as a result of excessive demand pressures. This followed last week’s CPI release which showed the December increase to be 0.96 points. When…
- Japan’s Government Pension Investment Fund and the yen – mainstream macro myths driving bad policyon 2 February 2026 by bill
With a national election approaching in Japan (February 8, 2026), there has been a lot of discussion about the so-called ‘weak yen’ and whether the Bank of Japan should be intervening to manage the value of the currency on international markets. PM Takaichi has been quoted as saying that the weak yen is good for…
- Japan goes to an election accompanied by a very confused economic debateon 29 January 2026 by bill
These notes will serve as part of a briefing document that I will send off to some interested parties in Japan. Japan is about to go to the poll for a snap national election on February 8. The recently installed Prime Minister, Ms Takaichi is betting that her recent solid showing in the polls will…
- Recent extended discussion with RadioMMT – Part 1on 26 January 2026 by bill
It is a public holiday in Australia today celebrating our national day – the day that the colonial powers of Britain first decided to set us up as a penal colony because they had run out of prison space in the old country due to the massive incarceration rates following the enclosures. The impoverished small…
- Australian labour market – stronger as employment growth outstrips the growth in the working age populationon 22 January 2026 by bill
Today (January 22, 2026), the Australian Bureau of Statistics (ABS) released the latest labour force data – Labour Force, Australia – for December 2025 – which showed a relatively strong increase in employment and the rising participation rate – both good signs. Taken together the demand-side of the labour market outstripped the growth in 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
- Modern Monetary Theory by Brooke Clarke