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.
Upcoming event: MMT Forum 2026, Fri 18 Dec, 9:30am – 6pm, ISH Venues, London
Posts from Richard Murphy at Tax Research UK
- Abdul El-Sayed creates possibility – and the Establishment is frightened of thaton 2 November 2026 by Richard Murphy
As The Guardian noted in an article posted overnight: Congresswoman Haley Stevens, who lost the Michigan Democratic Senate primary to Abdul El-Sayed, endorsed his Republican Read the full article...
- Royal reparationson 2 November 2026 by Richard Murphy
I have noted the suggestions made by the Prime Minister and John Healey this weekend that the UK might apologise for its role in slavery, Read the full article...
- The world is saying ‘enough’on 2 November 2026 by Richard Murphy
There were protests, led mainly by young people, reported over this weekend in: France – Paris, Lyon, Marseille and other cities. Germany – Berlin, Frankfurt, Read the full article...
- How government spending can pay for itself: the multiplier effect explainedon 2 November 2026 by Richard Murphy
What happens when the government spends money? Most politicians talk about public spending as though it is simply a cost. But government spending does something Read the full article...
- I give in….comments are back onon 1 November 2026 by Richard Murphy
I said I'd take the whole weekend off from answering comments here. Then I posted two items this morning, on which I realise I want Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- The intersection of neoliberalism and traditional Japanese values – Part 3on 2 November 2026 by bill
One of the unsurprising but disturbing results of my enquiry into neoliberalism in Japan is the way the so-called ‘progressive’ side of politics has embraced the main tenets of neoliberalism. For a Westerner, Japanese politics is somewhat confounding and to understand what is going on, one must abandon the typical Left=Progressive/Right=Conservative dichotomy. In Japan, the…
- Seminar in Tokyo – Thursday, November 29, 2026on 28 October 2026 by bill
On Thursday, November 29, 2026, I will be giving a presentation in Tokyo. The title of the seminar is: “The Need for and Feasibility of a ‘High-Pressure Economy: Determining Appropriate Levels of Investment in Light of Construction Sector Capacity'”. Read on for the details of how you can join via the live stream. The seminar…
- Kyoto Report 2026 – 5on 27 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. A seeming tyranny This bit is to be interpreted as a…
- The intersection of neoliberalism and traditional Japanese values – Part 2on 26 October 2026 by bill
Neoliberalism has scammed everyone. It told citizens that if we were liberated from government regulations and government control of enterprises that delivered essential services then we would attain the best possible outcomes that were available. A barrage of messaging from media companies blatantly serving the interests of capital and think tanks masquerading as independent research…
- The intersection of neoliberalism and traditional Japanese values – Part 1on 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.…
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






