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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.

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Posts from Richard Murphy at Tax Research UK

  • The mising ingredient
    on 24 August 2026 by Richard Murphy

    Having criticised the media this morning, The Telegraph finally came up with a story. As they have noted: Graduates are facing the worst job market Read the full article...

  • What’s the answer to a failing media?
    on 24 August 2026 by Richard Murphy

    I have already done my usual early-morning scan through a wide range of news sources that emailed me their headlines overnight. These include the FT, Read the full article...

  • Understanding Economics: What is income?
    on 24 August 2026 by Richard Murphy

    What is income? It sounds like one of the simplest questions in economics, but the answer matters enormously. In this episode of Understanding Economics, I Read the full article...

  • Ely, 3 October
    on 23 August 2026 by Richard Murphy

    As I previously noted on a couple of occasions, we are holding a Funding the Future event in Ely on Saturday, 3 October. More information Read the full article...

  • Infographic: Why do we need economic growth
    on 23 August 2026 by Richard Murphy

    How to expand this image If you press CTRL or Command and the Plus (+) key on your keyboard, your browser should increase the size Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • Australian government debt approaching $A1 trillion – who cares? Everybody it seems but me
    on 24 August 2026 by bill

    The neoliberal era has made humanity progressively crazy when it comes to currency matters. At the moment, this trend seems to have reached new heights of absurdity. I note that the US government is now buying up its own debt with more debt as a cover for the stupidity that its President and his lackeys…

  • Australian labour market – unemployment continues to rise as a deliberate policy choice
    on 20 August 2026 by bill

    Last month, I noted that the sharp shift towards part-time work was the first signal that a labour market contraction was coming. The latest data released today confirms that the contraction is now eating into overall employment and pushing the unemployment rate up. The Australian Bureau of Statistics (ABS) released the latest labour force data…

  • Real wages in Australia decline for the third consecutive quarter
    on 19 August 2026 by bill

    Today (August 19, 2026), the Australian Bureau of Statistics released the latest – Wage Price Index, Australia – for the June-quarter 2026, which shows that the aggregate wage index rose by 3.2 per cent over the 12 months down from 3.4 per cent in the March-quarter. With the annual inflation rate for the June-quarter came…

  • ECB research paper continues to deny that bond buying programmes essentially funded the Eurozone governments
    on 17 August 2026 by bill

    The ECB recently published in their Occasional Paper Series the following report (No. 397) – Prohibition of monetary financing: an economic perspective – which purports to justify the current practice of central banks of not directly buying the debt issued by their governments, despite many central banks at various times since this practice became the…

  • Radio MMT – Episode 79 Bill Mitchell: Marx & Socialism
    on 12 August 2026 by bill

    I am travelling most of today and have commitments at the other end. So I have meaning to post his podcast I did with Melbourne radio station 3CR in July, so today is a good time to make it available here. As I understand it, this is an edited version of a longer talk that…

More Bill Mitchell @ billmitchell.org

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