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
- AI automation will not be our salvation
on 1 May 2026 by Richard MurphyI came across an academic article yesterday that was published in March. Entitled 'The AI Layoff Trap', it was authored by Brett Hemenway Falk and Read the full article...
- Could the Bank of England bring the economy down?on 1 May 2026 by Richard Murphy
The Bank of England has held interest rates, but the real story is what happens next. Beneath its decision, pressure is building to raise rates Read the full article...
- Will we ever choose to address climate change?on 1 May 2026 by Richard Murphy
There was an FT report this week that the world’s largest technology companies are now committing to around $725 billion of investment in artificial intelligence Read the full article...
- New glossary entry: private equityon 1 May 2026 by Richard Murphy
I added a new, longer-than-normal entry to the glossary that I publish in association with this blog yesterday. The entry is on private equity, which Read the full article...
- Andy Burnham is not a solution to any known problemon 30 April 2026 by Richard Murphy
The FT has reported today that: Greater Manchester mayor Andy Burnham has reignited a debate about funding an uplift to defence spending via borrowing outside Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Has the UAE seen the writing on the wall (peak oil that is)?on 30 April 2026 by bill
A lot of the post WW2 institutional structure is being challenged at present and/or vanishing altogether. Some of the changing environment will prove to be disastrous for the world, while some of the changes are likely to be beneficial. There will also be pro and con of many of the disruptions. Tomorrow (May 1, 2026),…
- My blog is on holiday todayon 27 April 2026 by bill
Today is a public holiday (ANZAC Day) where we remember the efforts of our past generations who fought in wars. This used to be a rather sombre day when some reflections were in order about the men and women who died ‘defending’ our nation. However, it is now a full-on, merch-driven, commercialised glorification of war…
- Robert Skidelsky death – some recollectionson 23 April 2026 by bill
The biographer of Keynes in three volumes – Robert Skidelsky – died on April 15, 2026 at the age of 84. As I explain below, Skidelsky was what we consider to be a mainstream ‘deficit dove’, who are Keynesian and Post Keynesian economists that are comfortable with using fiscal deficits to increase economic activity when…
- A classic case of the Australian government denying that it is the Australian governmenton 20 April 2026 by bill
Most of the examples of fiscal austerity leave one puzzled as a result of the sheer myopia that is usually present – the ‘save a penny today to spend a dollar tomorrow’ sort of nonsense that history tells us repeats when governments try to reduce spending in areas that it should not. But sometimes one…
- Australian labour market – largely stable but dark clouds presenton 16 April 2026 by bill
The Australian Bureau of Statistics (ABS) released the latest labour force data today (APRIL 16, 2026) – Labour Force, Australia – for March 2026 – which showed that the labour market steadied after last month’s contraction. While employment growth remained positive and was dominated by full-time work gains (as part-time employment fell), the fact 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