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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

  • The whammy that might hit us
    on 23 October 2026 by Richard Murphy

    There were two reasons why I recorded this morning’s video. The first is that I believe that everything I say in it is right, and Read the full article...

  • Will John Healey’s budget be a disaster?
    on 23 October 2026 by Richard Murphy

    Could the October 2026 Budget become one of the biggest failures in British Budget history? Chancellor John Healey will deliver his first Budget for Andy Read the full article...

  • The rise and fall of neoliberalism
    on 22 October 2026 by Richard Murphy

    This infographic was included in my post on this morning's video, but I feel that it deserves an outing all on its own: The point Read the full article...

  • The conditions for change have arrived
    on 22 October 2026 by Richard Murphy

    I looked at this morning’s news, as usual, and much of it felt like the typical gloom, or the regular litany of neoliberal government errors Read the full article...

  • Neoliberalism is over
    on 22 October 2026 by Richard Murphy

    Is France showing us that neoliberalism is beginning to fail? As protests against austerity grow, financial markets are demanding spending cuts while ordinary people are Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • The intersection of neoliberalism and traditional Japanese values – Part 1
    on 22 October 2026 by bill

    In the West, particularly the English-speaking world, neoliberalism seemed to easily replace the collectivist values of the full employment era that followed the Second World War. It constructed a world where individualism was prioritised over society, even though it claimed that society (all of us) would be better off by pursuing our own greedy interests.…

  • Kyoto Report 2026 – 4
    on 20 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. Signs I come across I had to go down into central…

  • French protests reflect the dysfunctional architecture of the common currency
    on 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 come
    on 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 – 3
    on 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…

More Bill Mitchell @ billmitchell.org

Other Modern Money Theory Proponents

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