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
- Why do banks take deposits?
on 17 August 2026 by Richard MurphyTo answer a question I am often asked, and which was asked in response to relevant infographics on banks, I offer this: How to expand Read the full article...
- Jamie Dimon’s choice
on 17 August 2026 by Richard MurphyThese two stories appear next to each other in an FT email this morning: You do not need to read the stories themselves to understand Read the full article...
- Who is a foreign national? The question Reform needs to answer
on 17 August 2026 by Richard MurphyThe FT has this headline this morning: Reform UK has vowed to cut £50bn from the welfare bill by slashing benefits for foreign nationals and Read the full article...
- The repugnance of Robert Jenrickon 17 August 2026 by Richard Murphy
In my post on Robert Jenrick's proposals, made on behalf of Reform, to change UK policy on health and disability benefits, I mentioned my concern Read the full article...
- Reform wants people off benefits. But where are the jobs?on 17 August 2026 by Richard Murphy
Robert Jenrick MP, the former Tory who now skulks beside Nigel Farage on the Reform bench in Parliament, thinks Britain has what he calls a Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- ECB research paper continues to deny that bond buying programmes essentially funded the Eurozone governmentson 17 August 2026 by bill
The ECB recently published in their Occasional Paper Series the following report (No. 397) – Prohibition of monetary financing: an economic perspective – which purports to justify the current practice of central banks of not directly buying the debt issued by their governments, despite many central banks at various times since this practice became the…
- Radio MMT – Episode 79 Bill Mitchell: Marx & Socialismon 12 August 2026 by bill
I am travelling most of today and have commitments at the other end. So I have meaning to post his podcast I did with Melbourne radio station 3CR in July, so today is a good time to make it available here. As I understand it, this is an edited version of a longer talk that…
- Alt protein is the way forward and China is already well ahead of the rest who are infested with destructive neoliberal ideologyon 12 August 2026 by bill
With the Rhine drying up and grass turning brown all over Europe (including the UK), even conservative bodies such as the ECB are starting to take notice and comment. On July 2, 2026, a member of the Executive Board, Frank Elderson gave a speech to the 7th World Congress of Environmental and Resource Economists –…
- Be thankful for small mercies – proposed cut in Japan’s sale taxon 10 August 2026 by bill
Most of the economics commentary in the last few weeks about Japan has been about the need for higher interest rates or, relatedly, the ‘desperate’ foreign exchange intervention where the US allegedly bailed out Japan to prevent currency failure. All side issues really. The forex intervention said more about US paranoia than anything about Japan’s…
- Japan’s proposed investment boost will not run out of yenon 5 August 2026 by bill
The prophets of doom (Japan division) are back in town predicting the worst for the country. The UK Guardian even is getting in on the act (July 25, 2026) – Can Japan avoid a Liz Truss-style shock as its PM embarks on a giant spending spree?. It is interesting now that the prophets have a…
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