Welcome to MMT works

MMT coin

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.

More posts at mmt.works…

Posts from Richard Murphy at Tax Research UK

  • The cry for help
    on 13 October 2026 by Richard Murphy

    The Guardian reported this yesterday evening: Hackers have forced the temperature of many French supermarket fridges up to 50C overnight, in an “unprecedented” cyber-attack affecting Read the full article...

  • Autumn arrivals
    on 13 October 2026 by Richard Murphy

    There is no reason to post this photo that I took at WWT Welney on Sunday, except to put up something that is not about Read the full article...

  • Something will break, and soon
    on 13 October 2026 by Richard Murphy

    Yesterday began with the surreal macroeconomic forecast that underpinned the Institute for Fiscal Studies’ Green Budget, which effectively ignored the risk of an AI collapse, Read the full article...

  • An election before Christmas?
    on 13 October 2026 by Richard Murphy

    Could Andy Burnham call a general election before Christmas 2026? In this video, I examine the rumours and ask why an early election might appeal Read the full article...

  • The IFS Green Budget is an exercise in naive hope rather than realistic expectation
    on 12 October 2026 by Richard Murphy

    The latest Institute for Fiscal Studies ⁠Green Budget has been published today. Like all such forecasts, this one is pure speculation, and whether it provides Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • 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…

  • Are the traditions of Japan consistent with an increasing GDP growth obsession – Part 1?
    on 12 October 2026 by bill

    I know I am venturing into the world shared by sociologists, cultural anthropologists, cultural historians, and economists in the current research that I am pursuing. The question is whether traditional Japanese values are compatible with a mainstream ideology that pursues ever increasing GDP growth as a goal, if not a reality. The current Japanese government…

  • Japan – Tracing the decline in construction employment since 1980
    on 8 October 2026 by bill

    In this blog post, I am continuing my work on examining the constraints in the Japanese infrastructure sector that would reduce the effectiveness of the fiscal expansion that the current government is proposing as a strategy to kickstart the economy and lift productivity. One approach is to decompose employment changes in the sector into the…

  • Kyoto Report 2026 – 2
    on 6 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. The weather is cooler than it has been and the last…

  • Is a high-pressure economy strategy in Japan viable?
    on 5 October 2026 by bill

    I am currently working on developing models that help evaluate the constraints on fiscal expansion in Japan arising from the ageing workforce in the construction sector. The current government under Ms. Takaichi is pursuing what they call a “responsible proactive fiscal policy” that aims to utilise large-scale public investment spending to crowd-in private investment expenditure…

More Bill Mitchell @ billmitchell.org

Other Modern Money Theory Proponents

Other MMT Discussion

Accessibility Toolbar