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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

  • Is Making Tax Digital going to destroy the UK tax system?
    on 20 April 2026 by Richard Murphy

    Jean-Baptiste Colbert (1619–1683), the Comptroller-General of Finances under Louis XIV of France, is widely credited with saying: “The art of taxation consists in so plucking Read the full article...

  • Reeves is still missing the point
    on 20 April 2026 by Richard Murphy

    As The Guardian reported last night: The bosses of Britain’s “big five” retail banks have been summoned to a meeting with the chancellor, Rachel Reeves, this Read the full article...

  • Can your pension savings really keep you in old age?
    on 20 April 2026 by Richard Murphy

    The UK pension system is built on a false idea: that savings and financial assets can guarantee security in old age. In this video, I Read the full article...

  • Time off
    on 20 April 2026 by Richard Murphy

    I took time off over the weekend, whilst doing a lot of reading on money, seeking to find ways to reconcile chartalist (MMT) and Marxist Read the full article...

  • Recommended reading
    on 19 April 2026 by Richard Murphy

    Will Thomson, who organised the Scottish Festival of Economics, at which I spoke recently, has been chasing other presenters and me at that festival since Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • A classic case of the Australian government denying that it is the Australian government
    on 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…

  • Australian labour market – largely stable but dark clouds present
    on 16 April 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (APRIL 16, 2026) – Labour Force, Australia – for March 2026 – which showed that the labour market steadied after last month’s contraction. While employment growth remained positive and was dominated by full-time work gains (as part-time employment fell), the fact that…

  • A structured approach for progressive political ambitions – Part 7
    on 13 April 2026 by bill

    This is Part 7 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the British Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the…

  • A structured approach for progressive political ambitions – Part 6
    on 9 April 2026 by bill

    This is Part 6 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the British Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the…

  • My blog is on holiday today
    on 6 April 2026 by bill

    It is a public holiday in Australia today and I decided that I would use the time, which is free of workplace-type interruptions, to finalise a major project that has an impending (very) deadline. So happy holidays to all not that the global events are anything to be very happy about.

More Bill Mitchell @ billmitchell.org

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