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
- Due notice to the trolls
on 26 August 2026 by Richard MurphyOver the last day or so, a host of trolls have appeared in the comments on this channel, all questioning my views on modern monetary Read the full article...
- Creating money does not, by itself, cause inflationon 26 August 2026 by Richard Murphy
This comment was made on this blog by someone whom I presume is a right-wing troll in response to my suggestion that we should not worry Read the full article...
- What would a courageous government do?on 26 August 2026 by Richard Murphy
This is an apparently serious news report in The Guardian this morning (and no, my copy is not dated 1 April): UK citizens will be Read the full article...
- Is Trumpworld falling apart?on 26 August 2026 by Richard Murphy
Despite all the bluster from Trump, his world is falling apart. According to reports from the past day, 76% of Canadians support Mark Carney’s position Read the full article...
- £3 trillion of debt? So what?
on 26 August 2026 by Richard MurphyThe national debt is nearing £3 trillion, and almost everything said about that claim is wrong. It is not a debt in the way a Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Government debt hysteria relies on acceptance of a totally unnecessary administrative practiceon 26 August 2026 by bill
As a followup on Monday’s blog post – Australian government debt approaching $A1 trillion – who cares? Everybody it seems but me (August 24, 2026) – there is an additional aspect of the hysteria around government debt levels that was implicit in that post but bears more detailed discussion. What I am writing today is…
- Australian government debt approaching $A1 trillion – who cares? Everybody it seems but meon 24 August 2026 by bill
The neoliberal era has made humanity progressively crazy when it comes to currency matters. At the moment, this trend seems to have reached new heights of absurdity. I note that the US government is now buying up its own debt with more debt as a cover for the stupidity that its President and his lackeys…
- Australian labour market – unemployment continues to rise as a deliberate policy choiceon 20 August 2026 by bill
Last month, I noted that the sharp shift towards part-time work was the first signal that a labour market contraction was coming. The latest data released today confirms that the contraction is now eating into overall employment and pushing the unemployment rate up. The Australian Bureau of Statistics (ABS) released the latest labour force data…
- Real wages in Australia decline for the third consecutive quarteron 19 August 2026 by bill
Today (August 19, 2026), the Australian Bureau of Statistics released the latest – Wage Price Index, Australia – for the June-quarter 2026, which shows that the aggregate wage index rose by 3.2 per cent over the 12 months down from 3.4 per cent in the March-quarter. With the annual inflation rate for the June-quarter came…
- ECB research paper continues to deny that bond buying programmes essentially funded the Eurozone governmentson 17 August 2026 by bill
The ECB recently published in their Occasional Paper Series the following report (No. 397) – Prohibition of monetary financing: an economic perspective – which purports to justify the current practice of central banks of not directly buying the debt issued by their governments, despite many central banks at various times since this practice became 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