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
- Reform and income tax
on 26 February 2026 by Richard MurphyThis is the short we made for The Canary today. I am sure there is a way to embed just the video, but I have Read the full article...
- Why sell UK assets abroad when the government should be buying them instead?
on 26 February 2026 by Richard MurphyI saw this headline in The Guardian this morning: I did, of course, have just one thought, which is why couldn't the UK state have Read the full article...
- Cooperation with the Canaryon 26 February 2026 by Richard Murphy
Starting from today, we are producing video shorts with and for The Canary. The target is Reform. The aim is to beat fascism. About once Read the full article...
- The real far-right agenda
on 26 February 2026 by Richard MurphyThis is from The Guardian yesterday: The chart shows the overall sentiment towards migration and migrants expressed in the House of Commons by year. It Read the full article...
- What’s the economic truth the BBC’s hiding?on 26 February 2026 by Richard Murphy
In 2023, the BBC admitted that comparing government finances to a household budget is “dangerous territory” that can mislead audiences. And yet we still hear Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Inflation in Japan – invariant to monetary policy and be careful what you wish for (tourism)on 26 February 2026 by bill
I have been thinking about the recent inflation trajectory in Japan in the light of constant calls from mainstream economists (including a bevy of private bank economists who work for institutions that benefit from interest rate hikes) for the Bank of Japan to hike rates. What is driving CPI movements? What has been the impact…
- A successful degrowth strategy will require a massive redistribution of income and wealth towards the pooreston 23 February 2026 by bill
It is true that all big cities have areas of poverty that is visible from the streets. But I am always a bit shocked when I travel to London, where I am currently working, because the inequality is very obvious. As I work more on the degrowth, decolonisation project that I am currently involved in,…
- Australian labour market – labour demand tracks labour supply – steadyon 19 February 2026 by bill
I am late today because I am writing this in London after travelling the last 24 hours. The Australian Bureau of Statistics (ABS) released the latest labour force data today (February 19, 2026) – Labour Force, Australia – for January 2026 – which showed that the labour market was essentially steady in that employment kept…
- Actions by our governments are the opposite to what we require from them on climate changeon 16 February 2026 by bill
The US is now a rogue state. One example is the conduct of the US Health Secretary who has been working to destroy the scientific basis for health care since his appointment last year but exceeded his own hubris when he told a podcast on February 12, 2026 that “I’m not scared of a germ.…
- Those who invoke the ‘Truss Moment’ should look at what is happening in Japanon 12 February 2026 by bill
In the annals of ruses used to provoke fear in the voting public about government deficits, central bank currency issuance, and fiscal activism, the experience of Germany in the 1920s was a long-standing favourite, that could be wheeled out on demand and have immediate effect. Wheelbarrows full of money being pushed to the local bakery…
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