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
- Starmer: the great letdownon 20 June 2025 by Richard Murphy
Keir Starmer promised transformation—and delivered disappointment. I argue that Starmer is not just failing, but failing in a way that makes him worse than his Read the full article...
- ChatGPT prompt for a letter to your MPon 20 June 2025 by Richard Murphy
This ChatGPT should create a well-formed letter to your MP on any topic you choose on the web. You obviously need access to ChatGPT or Read the full article...
- Why are we using Palantir?on 20 June 2025 by Richard Murphy
Robert Reich has written this today: In late 2023, NHS England awarded Palantir a £330 million contract to build a cloud-based Federated Data Platform (FDP). The Read the full article...
- AI, and letters to your MPon 20 June 2025 by Richard Murphy
As I mentioned yesterday, I am making increased use of AI. One of my reasons for doing so is to increase the usefulness of the Read the full article...
- The real UK debt crisis isn’t in the Treasury – it’s in the homes of millions of peopleon 20 June 2025 by Richard Murphy
As the Financial Times has reported, the cost of personal debt in the UK is rising rapidly, despite falling bank base rates. Rates are now Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- The Smith Family MMT Manga is back – Episode 1 for Season 3 is now availableon 19 June 2025 by bill
It’s back. Season 3 of the – The Smith Family and their Adventures with Money – produced by MMTed begins today (June 20, 2025) and will run for the next 12 months, with episodes updated every month. The recession has deepened and the government is in chaos, with its chief advisor Professor Raul Noitawl insisting…
- Australian Labour Market – steady but signs of a deteriorationon 19 June 2025 by bill
The Australian Bureau of Statistics (ABS) released the latest labour force data today (June 19, 2025) – Labour Force, Australia – for May 2025, which revealed that the unemployment rate remained unchanged at 4.1 per cent for the second consecutive month. There was a small decrease in overall employment (-2,500) which was offset by a…
- The US dollar is losing importance in the global economy – but there is really nothing to see in that facton 16 June 2025 by bill
Since we began the Modern Monetary Theory (MMT) project in the mid-1990s, many people have asserted (wrongly) that the analysis we developed only applies to the US because it is considered to be the reserve currency. That status, the story goes, means that it can run fiscal deficits with relative impunity because the rest of…
- The arms race again – Part 2on 12 June 2025 by bill
This is the second part of my thoughts on the current acceleration in military spending around the world. The first part – The arms race again – Part 1 (June 11, 2025) – focused on background and discussed the concept of ‘military Keynesianism’. In this Part 2, I am focusing more specifically on the recent…
- The arms race again – Part 1on 11 June 2025 by bill
The Chair of the Finance Committee in the Irish Parliament invited me to make a submission to inform a – Scrutiny process of EU legislative proposals – specifically to discuss proposals put forward by the European Council to increase spending on defence. This blog post and the next (tomorrow) will form the basis of my…
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