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.
Upcoming event: MMT Forum 2026, Fri 18 Dec, 9:30am – 6pm, ISH Venues, London
Posts from Richard Murphy at Tax Research UK
- Neoliberalism is not moderate. It is an extreme political ideology.on 19 October 2026 by Richard Murphy
This piece arose from a conversation over breakfast in the Murphy household this morning. One of neoliberalism's greatest political achievements has been persuading people that Read the full article...
- It’s time for a politics of careon 19 October 2026 by Richard Murphy
The list of places where riots took place in France over the weekend feels like the list of places a couture house might boast of Read the full article...
- What is Austerity?on 19 October 2026 by Richard Murphy
Austerity was never necessary. It was a political choice, and Britain is still paying the price. In 2010, George Osborne told Britain that the government Read the full article...
- A better song to singon 18 October 2026 by Richard Murphy
I took the time to reflect yesterday. A week of intense work required that I take a break, but my brain rarely turns off, and Read the full article...
- The collapse of neoliberalism: the podcast versionon 18 October 2026 by Richard Murphy
This is a podcast I recorded a little over a week ago with my old friend Tony Groves, who runs the Echo Chamber podcast in Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- French protests reflect the dysfunctional architecture of the common currencyon 19 October 2026 by bill
The social instability in France is now spreading throughout Europe. Already there are mass protests in Spain and Portugal, Belgium, Italy, and Albania. In France, initially students began protesting over conditions in the schooling system, but the grievances and parties involved have broadened out and the increasingly chaotic scenes in Paris have spread out to…
- Australian labour market – further deterioration and there is worse to comeon 15 October 2026 by bill
The labour market contraction that I have been signalling for the last three months continued in September. The rising unemployment rate and the declining employment levels are all down to the work of the RBA and its ridiculous interest rate increases. Given the lag in interest rates impacting on the real economy, the current labour…
- Kyoto Report 2026 – 3on 13 October 2026 by bill
This weekly report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. Kurama – the hot spring that isn’t! I have resisted travelling…
- Are the traditions of Japan consistent with an increasing GDP growth obsession – Part 1?on 12 October 2026 by bill
I know I am venturing into the world shared by sociologists, cultural anthropologists, cultural historians, and economists in the current research that I am pursuing. The question is whether traditional Japanese values are compatible with a mainstream ideology that pursues ever increasing GDP growth as a goal, if not a reality. The current Japanese government…
- Japan – Tracing the decline in construction employment since 1980on 8 October 2026 by bill
In this blog post, I am continuing my work on examining the constraints in the Japanese infrastructure sector that would reduce the effectiveness of the fiscal expansion that the current government is proposing as a strategy to kickstart the economy and lift productivity. One approach is to decompose employment changes in the sector into 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






