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
- Is Andrew Bailey the weakest link?
on 6 May 2026 by Richard MurphyThe Financial Times has published an article by Andrew Bailey, governor of the Bank of England and chair of the Financial Stability Board, in which Read the full article...
- The seven stages of meltdown, coming our wayon 6 May 2026 by Richard Murphy
I complained yesterday that the BBC, in particular, had reported weekend events and claims about what was happening in the Strait of Hormuz without appropriate Read the full article...
- Will you get your summer holiday?on 6 May 2026 by Richard Murphy
The UK government was warned in late April that the country had only six weeks of jet fuel supply remaining. Jet fuel prices across Europe Read the full article...
- The problem with our childrenon 5 May 2026 by Richard Murphy
The Telegraph reports in a morning newsletter headline today that: One million children to be claiming disability benefits next year They add, and I make Read the full article...
- Word of the day: sonderon 5 May 2026 by Richard Murphy
I came across a new word this weekend. It is sonder. Sonder is the profound, and humbling, realisation that every random passerby is living a Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- US economy on an unstable knife edge at presenton 4 May 2026 by bill
The income and wealth inequality that continues to grow in most advanced nations has led to some new terminology being introduced into the lexicon of economic terms, the – K-shaped economy: When growth moves in two different directions. When this pattern of growth is identified you know how far out of kilter the world has…
- Has the UAE seen the writing on the wall (peak oil that is)?on 30 April 2026 by bill
A lot of the post WW2 institutional structure is being challenged at present and/or vanishing altogether. Some of the changing environment will prove to be disastrous for the world, while some of the changes are likely to be beneficial. There will also be pro and con of many of the disruptions. Tomorrow (May 1, 2026),…
- My blog is on holiday todayon 27 April 2026 by bill
Today is a public holiday (ANZAC Day) where we remember the efforts of our past generations who fought in wars. This used to be a rather sombre day when some reflections were in order about the men and women who died ‘defending’ our nation. However, it is now a full-on, merch-driven, commercialised glorification of war…
- Robert Skidelsky death – some recollectionson 23 April 2026 by bill
The biographer of Keynes in three volumes – Robert Skidelsky – died on April 15, 2026 at the age of 84. As I explain below, Skidelsky was what we consider to be a mainstream ‘deficit dove’, who are Keynesian and Post Keynesian economists that are comfortable with using fiscal deficits to increase economic activity when…
- A classic case of the Australian government denying that it is the Australian governmenton 20 April 2026 by bill
Most of the examples of fiscal austerity leave one puzzled as a result of the sheer myopia that is usually present – the ‘save a penny today to spend a dollar tomorrow’ sort of nonsense that history tells us repeats when governments try to reduce spending in areas that it should not. But sometimes one…
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