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
- MMT in the Guardian
on 19 March 2026 by Richard MurphyI am aware that Heather Stewart's article in the Guardian, in response to Zack Polanski's speech yesterday, has grossly misrepresented modern monetary theory. She said: Read the full article...
- Calm leadership is now required and it in short supply
on 19 March 2026 by Richard MurphyI recorded the video that we published this morning on the war in Iran a couple of days ago. Even then, I felt the outlook Read the full article...
- They miscalculated: we’ll payon 19 March 2026 by Richard Murphy
Every now and again, I walk into the studio that we used to make our YouTube videos with Thomas and suggest that I just sit Read the full article...
- Zack Polanski’s economic directionon 18 March 2026 by Richard Murphy
I was pleased to read Zach Polanski’s first major economics speech, delivered this morning. You can read it here. There was a great deal to Read the full article...
- Why is it taboo to discuss the future of NATO?on 18 March 2026 by Richard Murphy
Let me ask a simple question. It is this. What is the point of NATO now? When Donald Trump is lashing out at all his Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Australian labour market – unemployment rises sharply – hard to reconcile with RBA’s excess demand claimon 19 March 2026 by bill
The Australian Bureau of Statistics (ABS) released the latest labour force data today (March 19, 2026) – Labour Force, Australia – for February 2026 – which showed that the labour market had gone backwards. While employment growth remained positive, full-time work fell. The participation rate rose, which in some situations indicates a positive outlook as…
- A structured approach for progressive political ambitions – Part 3on 15 March 2026 by bill
This is Part 3 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the fiscal…
- Interest rate hikes will not get ships moving through the Strait of Hormuz more quicklyon 12 March 2026 by bill
Regular readers will know that I hate the term NAIRU – or Non-Accelerating-Inflation-Rate-of-Unemployment – which is a concoction invented by mainstream economists to maintain unemployment at elevated levels (to keep the working class in its place) and give cover to central banks to run monetary policies that redistribute income from poor to rich. If you…
- A structured approach for progressive political ambitions – Part 2on 9 March 2026 by bill
This is the second part of a short series of briefing notes that arose out of discussions I had in London the week before last about how a progressive political party might want to break out of the shackles that the Labour Party has bound itself in with its obsession with fiscal rules and an…
- Australian national accounts – growth is up but mostly because of inventory buildup which will reverseon 5 March 2026 by bill
I finally arrived back home late last night, so I am catching up today. Part 2 of the series I started on Monday will appear next Monday. Yesterday (March 4, 2026), the Australian Bureau of Statistics (ABS) released the latest – Australian National Accounts: National Income, Expenditure and Product, December 2025. The data shows that…
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