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
- Accounting and entanglement
on 11 September 2026 by Richard MurphyThere is an old story about a client who visits their accountant and asks, “What is two plus two?” The accountant replies, “What would you Read the full article...
- ‘Murphy’s work on tax is top dollar’
on 11 September 2026 by Richard MurphyI was sent this picture last night. It is of a letter in the Morning Star newspaper. I do not always agree with the Morning Read the full article...
- Trump’s helicopter money would create an economic disaster
on 11 September 2026 by Richard MurphyDonald Trump has claimed that if the Republicans win the midterm elections, he will make every adult in America $5,000 better off. That is, for Read the full article...
- The central banks begin their war on the innocent victims of inflationon 11 September 2026 by Richard Murphy
The European Central Bank raised its base interest rate to 2.5% yesterday. This move is meant to control inflation arising as a consequence of the Read the full article...
- We need a revolutionon 11 September 2026 by Richard Murphy
We need a revolution because nothing seems to be working as it should. People have lost confidence in the government, the NHS is under strain, Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Is Keynesianism dead? Far from it – it provides the life support for a crisis-ridden capitalismon 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…
- Latest Australian national accounts data provide no justification for further interest rate riseson 3 September 2026 by bill
I am travelling a lot today and so this is just a brief reflection on the response in the media to yesterday’s National Account release from the Australian Bureau of Statistics. The reaction from the mainstream media has been rather incredulous with most commentators claiming in the most lurid terms that the figures mean that…
- Australian national accounts – subdued conditions continue amidst an EV purchasing boomon 2 September 2026 by bill
The Australian Bureau of Statistics (ABS) released the latest – Australian National Accounts: National Income, Expenditure and Product, June 2026 – today (September 2, 2026). This data is now starting to reflect the full impacts of the Middle East disruptions and the interest rate impacts arising from the recent hikes in rates from the RBA.…
- Why do we support political inaction that undermines our well-being?on 31 August 2026 by bill
I have been very sad in the last week or so as the news of the environmental devastation and its impact on human life in Nepal has steadily infiltrated our attention. The causes of that disaster are many but overwhelmingly point to the impact of climate change on the Himalayan permafrost and glacial lakes, which,…
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