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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

  • Tax banks more, now!
    on 23 September 2026 by Richard Murphy

    According to a report in the Financial Times this morning: Global banking executives have warned that they will divert investment away from the UK if Read the full article...

  • Glossary entry: Monopoly
    on 23 September 2026 by Richard Murphy

    I was writing a 'View On' article on markets yesterday morning and discovered there was no glossary entry for monopoly, although there was for oligopoly. Read the full article...

  • Who will constrain the power of capital?
    on 23 September 2026 by Richard Murphy

    In a video Paul Krugman published on his Substack yesterday, which I recommend subscribing to, although I by no means agree with everything he says, Read the full article...

  • Mad, bad, or beneath contempt?
    on 23 September 2026 by Richard Murphy

    Donald Trump was at the UN yesterday. Amongst the many stupid things he had to say, including that this planet was cooling, he also claimed Read the full article...

  • The politics of blame
    on 23 September 2026 by Richard Murphy

    British politics is increasingly becoming a politics of blame. Instead of addressing difficult social problems, politicians are finding people to punish. Small boats are one Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • The failure of neoliberalism and the progressive failure to articulate that has engendered the rise of the far Right
    on 21 September 2026 by bill

    On Sunday (September 20, 2026), the two state elections in Germany confirmed a trend that has been unfolding for some years in fact – the polarisation of politics in nations, and, in particular the legitimisation of far Right politicians espousing views that are not inconsistent with the views of the National Socialists in Germany in…

  • The elaborate farce being played out between the Bank of England and the British Treasury
    on 16 September 2026 by bill

    As at September 9, 2026, the Bank of England held £489,026 million in British government gilts (bonds). Since the beginning of February 2022, the Bank has been steadily selling of the stock of gilts it purchased as part of its Asset Purchase Facility (APF) over the period March 11, 2009 to December 15, 2021. These…

  • Is opposition to the AI development the new Ludditism?
    on 14 September 2026 by bill

    In the early C19th, skilled English textile workers fearing for their future wage earning capacity launched a campaign against the automated machinery that was fast being introduced into the factory system. The initial protests in Nottingham in 1811 spread quickly to Yorkshire and Lancashire. They became known as the – Luddites – a self-appointed title…

  • Is Keynesianism dead? Far from it – it provides the life support for a crisis-ridden capitalism
    on 10 September 2026 by bill

    On September 28, 1976, then British PM gave an historic speech at the Annual Labour Party Conference held in Blackpool. The speech was written by his son-in-law, one Peter Jay, who himself was mired in scandals throughout his career. For example, the nepotism allegations after he was appointed British Ambassador to the US, his wife’s…

  • Yen starts to appreciate again – as you were!
    on 7 September 2026 by bill

    In recent months, the mainstream media commentators have been issuing increasing lurid predictions of how the ‘out of control’ fiscal situation in Japan is killing the yen and a full-scale currency crisis was imminent, after the yen moved across the ‘fabled’ 160 mark against the US dollar. What is ‘fabled’ about that threshold is anyone’s…

More Bill Mitchell @ billmitchell.org

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