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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

  • Farage wants to tear us apart
    on 23 February 2026 by Richard Murphy

    Let's stop pretending that Rupert Lowe's Restore Britain Party and Nigel Farage's Reform UK are running different agendas. It is already clear that they co-exist Read the full article...

  • Condemning ourselves to decline
    on 23 February 2026 by Richard Murphy

    Phillip Inman’s column in the Guardian on Saturday made a familiar argument.  "Don’t be fooled by recent good news", he said. "The UK economy is Read the full article...

  • Governments aren’t like households
    on 23 February 2026 by Richard Murphy

    Politicians keep telling us the government must “live within its means” like a household. That idea is wrong. It is also dangerous. In this video, Read the full article...

  • Birding…
    on 22 February 2026 by Richard Murphy

    It was this sort of day at Titchwell on the North Norfolk coast: And this sort of day: And on the beach, once you walked Read the full article...

  • New glossary entry: health
    on 22 February 2026 by Richard Murphy

    To link to this morning’s video, I have published this new glossary entry: Health is the capacity to heal, by which I mean the ability Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • A successful degrowth strategy will require a massive redistribution of income and wealth towards the poorest
    on 23 February 2026 by bill

    It is true that all big cities have areas of poverty that is visible from the streets. But I am always a bit shocked when I travel to London, where I am currently working, because the inequality is very obvious. As I work more on the degrowth, decolonisation project that I am currently involved in,…

  • Australian labour market – labour demand tracks labour supply – steady
    on 19 February 2026 by bill

    I am late today because I am writing this in London after travelling the last 24 hours. The Australian Bureau of Statistics (ABS) released the latest labour force data today (February 19, 2026) – Labour Force, Australia – for January 2026 – which showed that the labour market was essentially steady in that employment kept…

  • Actions by our governments are the opposite to what we require from them on climate change
    on 16 February 2026 by bill

    The US is now a rogue state. One example is the conduct of the US Health Secretary who has been working to destroy the scientific basis for health care since his appointment last year but exceeded his own hubris when he told a podcast on February 12, 2026 that “I’m not scared of a germ.…

  • Those who invoke the ‘Truss Moment’ should look at what is happening in Japan
    on 12 February 2026 by bill

    In the annals of ruses used to provoke fear in the voting public about government deficits, central bank currency issuance, and fiscal activism, the experience of Germany in the 1920s was a long-standing favourite, that could be wheeled out on demand and have immediate effect. Wheelbarrows full of money being pushed to the local bakery…

  • Upcoming London visit and public event details
    on 9 February 2026 by bill

    I will be working in the UK from February 19 to February 28, 2026. I have a range of activities mostly of a non-public nature ranging from meetings with publishers, a meeting with Jeremy Corbyn, and some other research-related meetings. I will also be speaking at the launch of the new Modern Monetary Theory (MMT)…

More Bill Mitchell @ billmitchell.org

Other Modern Money Theory Proponents

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