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
- Austerity is not caringon 20 July 2025 by Richard Murphy
- More reflectionson 20 July 2025 by Richard Murphy
I was birdwatching again this morning, and with slightly less rain in prospect, I took a proper camera rather than just my phone. That said, Read the full article...
- Brtiain isn’t living beyond its meanson 20 July 2025 by Richard Murphy
- Reform don’t believe in climate changeon 20 July 2025 by Richard Murphy
I have already commented on Reform’s desire to return to the gold standard this weekend. Now I note another of their core beliefs has caught Read the full article...
- On holidayson 20 July 2025 by Richard Murphy
I looked around the web this morning, and in the UK at least, there is one overwhelming message: everyone has supposedly packed up for summer. Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Australian labour market – evidence is mounting of policy sabotage driving the unemployment rate upon 17 July 2025 by bill
The Australian Bureau of Statistics (ABS) released the latest labour force data today (July 17, 2025) – Labour Force, Australia – for June 2025, which reveals that finally, the slack that the combination of the fiscal austerity and the high interest rates has created is feeding into the labour market as employment growth slows and…
- How to break out of the commodification of everythingon 13 July 2025 by bill
Regular readers will know that I run a bit, like lots. Last week, while I was in Europe, I decided to stay on Australian time, given the brevity of the mission, so I found myself running at midnight or just after awaking at 22:00 or 23:00 (after going to sleep around 14:00). It turned out…
- Treasurer, please sack the RBA governor and the Monetary Policy Board members – they have gone rogueon 10 July 2025 by bill
Once again the Reserve Bank of Australia has gone rogue. On Tuesday (July 8, 2025), it held its cash rate target (the interest rate that expresses its monetary policy stance) constant at 3.85 per cent despite all the indicators suggesting that it would cut that target rate. The financial markets are in uproar because they…
- The Eurozone Member States are not equivalent to currency-issuing governments in fiscal flexibilityon 7 July 2025 by bill
I don’t have much time today for writing as I am travelling a lot on my way back from my short working trip to Europe. While I was away I had some excellent conversations with some senior European Commission economists who provided me with the latest Commission thinking on fiscal policy within the Eurozone and…
- British Labour Government should ignore irrelevant fiscal ‘black holes’ and worry about the political hole it is digging for itselfon 3 July 2025 by bill
The lack of correspondence arises when a government tries to operate within the tight constraints of unjustifiable fiscal rules by proposing legislation that cuts billions in government support for programs that are the difference between abject poverty for millions and a modest standard of living is once again coming to the fore in Britain. 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