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
- The thuggish approach to human well-being?
on 7 September 2026 by Richard MurphyJared Kushner, Trump's son-in-law and special envoy to the Middle East, said this over the weekend: Gaza has not worked for a very, very long Read the full article...
- Spontaneity can be falsely claimed once. The second time it is organised intimidation.on 7 September 2026 by Richard Murphy
As the FT has reported this morning: On Saturday, people dressed in black and wearing scarves and balaclavas blocked roads near the Port of Dover, Read the full article...
- The price of Germany’s black zero: the neoliberal policy that has driven the rise of its far righton 7 September 2026 by Richard Murphy
The Alternative für Deutschland (AfD) is Germany’s far-right political party, which won a major political victory in the former East German state of Saxony-Anhalt this Read the full article...
- Understanding Economics: What is poverty?
on 7 September 2026 by Richard MurphyPoverty is not a fact of nature. It is a political choice. The UK considers a person to be living in poverty when their income Read the full article...
- There is no shortage of work in Britain; there is just a shortage of funding to do it.
on 6 September 2026 by Richard MurphyJacqueline and I were out yesterday, deliberately looking at the work from different directions. Aside from birdwatching, our main focus was the economics of attention, Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Yen starts to appreciate again – as you were!on 7 September 2026 by bill
In recent months, the mainstream media commentators have been issuing increasing lurid predictions of how the ‘out of control’ fiscal situation in Japan is killing the yen and a full-scale currency crisis was imminent, after the yen moved across the ‘fabled’ 160 mark against the US dollar. What is ‘fabled’ about that threshold is anyone’s…
- Latest Australian national accounts data provide no justification for further interest rate riseson 3 September 2026 by bill
I am travelling a lot today and so this is just a brief reflection on the response in the media to yesterday’s National Account release from the Australian Bureau of Statistics. The reaction from the mainstream media has been rather incredulous with most commentators claiming in the most lurid terms that the figures mean that…
- Australian national accounts – subdued conditions continue amidst an EV purchasing boomon 2 September 2026 by bill
The Australian Bureau of Statistics (ABS) released the latest – Australian National Accounts: National Income, Expenditure and Product, June 2026 – today (September 2, 2026). This data is now starting to reflect the full impacts of the Middle East disruptions and the interest rate impacts arising from the recent hikes in rates from the RBA.…
- Why do we support political inaction that undermines our well-being?on 31 August 2026 by bill
I have been very sad in the last week or so as the news of the environmental devastation and its impact on human life in Nepal has steadily infiltrated our attention. The causes of that disaster are many but overwhelmingly point to the impact of climate change on the Himalayan permafrost and glacial lakes, which,…
- Government debt hysteria relies on acceptance of a totally unnecessary administrative practiceon 26 August 2026 by bill
As a followup on Monday’s blog post – Australian government debt approaching $A1 trillion – who cares? Everybody it seems but me (August 24, 2026) – there is an additional aspect of the hysteria around government debt levels that was implicit in that post but bears more detailed discussion. What I am writing today is…
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