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
- No one but a fool would run an economy this way
on 31 July 2026 by Richard MurphyThe Bank of England's Monetary Policy Committee issued its quarterly report yesterday, coinciding with its interest rate announcement. The rate is staying fixed for now, Read the full article...
- The madness goes on
on 31 July 2026 by Richard MurphyThe FT provides a plethora of headlines about a bizarre world this morning, each sending out wildly different signals. BP issues one of the weirdest Read the full article...
- Infographic: Supermarkets and Net Zero
on 31 July 2026 by Richard MurphyThe story to which this infographic relates was posted by me yesterday. The team here felt it would provide a break from the heavy infographics Read the full article...
- Debate Ammunition: The Bottom Is Rising
on 31 July 2026 by Richard MurphyTHE RICHARD J MURPHY YOUTUBE CHANNEL DEBATE AMMUNITION The Bottom Is Rising Funding the Future | July 2026 Topic Top-down thinking is failing young people Read the full article...
- The bottom is risingon 31 July 2026 by Richard Murphy
Young people are beginning to realise something that previous generations rarely had to face: the economic system no longer works for them. In this video, Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- RBA governor makes another self-serving public presentation ignoring the dismal reality she is helping to createon 30 July 2026 by bill
Earlier this week (July 28, 2026), the Governor of the Reserve Bank of Australia presented to a fundraising event in Sydney on the topic of – Monetary Policy in an Era of Shocks. Later she conducted a Q&A session where she declined to answer key questions about the policy choices the RBA has taken under…
- Another neoliberal institution shown to be unfit for purpose while lining the pockets of private equity and millionaireson 27 July 2026 by bill
Over the last several years, I have been indicating that I think we are in the endgame for neoliberalism as a dominant ideology. On many fronts, the signs are that its institutional structure has failed and the promises that justified that structure have not materialised. I know there is a difference between the promises to…
- Australian labour market – shifts towards part-time work perhaps the first signal that a contraction is comingon 23 July 2026 by bill
The Australian Bureau of Statistics (ABS) released the latest labour force data today (July 23, 2026) – Labour Force, Australia – for June 2026 – which provided mixed signals about the state of the labour market. While employment growth was positive, it was biased to part-time work, which is perhaps signalling a weakening as the…
- CEO pay excess in Australia continueson 20 July 2026 by bill
In addition to the basis academic research that occupies my working time and is funded by national competitive research funding agencies such as the Australian Research Council, I also do commissioned work for various organisations, mostly unions and community groups. That income allows me to also cross subsidise the basic research and is how a…
- Proposed pension reform in Japan (and elsewhere) misses the pointon 16 July 2026 by bill
Earlier this year, I analysed how decisions taken by the Japanese Government Pension Investment Fund to speculate in global financial markets have played a significant role in the depreciation of the yen. In this blog post – Japan’s Government Pension Investment Fund and the yen – mainstream macro myths driving bad policy (February 2, 2026)…
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