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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.

Posts from Richard Murphy at Tax Research UK

Posts from Bill Mitchell – Modern Monetary Theory

  • I wonder how progressives are viewing the fact that they gave credence to a key Trump operative
    on 12 May 2025 by bill

    It’s a big data week for me and today’s post is more of a news information offering rather than a deeper analysis of a topic, which is my usual pattern. However, I discuss in some detail recent appointments to the US Health Administration, some of which were prominent during the early COVID years and received…

  • The intersection of neoliberalism and fictional mainstream economics is damaging a generation of Japanese workers
    on 8 May 2025 by bill

    The – Japanese asset price bubble – burst in spectacular fashion in late 1991 (early 1992) following five years in which the real estate and share market boomed beyond belief. The boom coincided with a period of over-the-top neoliberal relaxation of banking rules which encouraged wild speculation. The origins of the boom can be traced…

  • Australia is not America – elections after Trump
    on 5 May 2025 by bill

    Last week, the – 2025 Canadian federal election – was held and the Liberal Party won for the fourth consecutive time securing 169 seats (in the 343-seat House of Commons), just short of a majority. They also won the popular vote (43.7 per cent of the vote – up 11.1 per cent), which was the…

  • It’s International Workers’ Day today
    on 1 May 2025 by bill

    Today, on May 1, we celebrate – International Workers’ Day – which is a “celebration of labourers and the working classes” and keeps the hope alive that solidarity can prevail and together we can turn the ship around. So raise our glasses! Clink. Clink.

  • US National Accounts – growth contracts but likely to be temporary
    on 1 May 2025 by bill

    People are closely watching the US data at present to see what the impacts of the recent tariff decisions by the new US President might have. I am no exception. Yesterday (April 30, 2025), the US Bureau of Economic Analysis published the latest US National Accounts figures – Gross Domestic Product, 1st Quarter 2025 (Advance…

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