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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

  • Beeing
    on 4 July 2026 by Richard Murphy

    It was a morning for a walk at Welney. Cool grass, a meandering path, and no fixed destination. For more than an hour at the Read the full article...

  • Impossible things
    on 4 July 2026 by Richard Murphy

    This exchange from Lewis Carroll’s Through the Looking Glass came up in conversation this morning: “I can’t believe that!” said Alice. “Can’t you?” the Queen Read the full article...

  • What is money? The argument based on logic
    on 4 July 2026 by Richard Murphy

    A few days ago I posted an explanation of economics, based on the logic of an if/then argument. It seemed to be popular. The aim Read the full article...

  • What is money, really?
    on 4 July 2026 by Richard Murphy

    Most discussions about economics begin with money. I think that’s a mistake. In this video, I explain why money is not the economy, why wealth Read the full article...

  • Recuperation
    on 3 July 2026 by Richard Murphy

    I would like to write more this morning. There are, in fact, two quite big posts sitting in draft. They will have to wait. Neither Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • What the new British government needs to do to get the unions on side with climate action
    on 2 July 2026 by bill

    The recent extreme weather in the northern hemisphere, the twin monster tropical storms in Japan, the impending shutdown of the – Atlantic meridional overturning circulation (Amoc) – among other happenings is telling us that things are changing for the worse. Clearly long-term weather trends are open to interpretation because the available data is sketchy the…

  • Apparently the RBA has the interests of the unemployed it is putting out of work at heart. Not!
    on 29 June 2026 by bill

    Economics and business correspondents regularly serve as apologists for poor policy. Their motivation is to file a story and often they take the easy way out by paraphrasing press releases put out by some conservative think tank, or economist, or corporation without any critical scrutiny being applied and then masquerade their article as opinion. The…

  • Australian labour market – slight improvement after dismal results in April
    on 25 June 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (June 25, 2026) – Labour Force, Australia – for May 2026 – which showed that the labour market improved slightly in May after a poor showing in the April figures. However, there are now 10.2 per cent of available labour not being…

  • Replacing Starmer/Reeves with another captive of the finance sector will change nothing
    on 22 June 2026 by bill

    Successive governments in the UK – Labour and Tory – have pushed the nation to the brink where there is little capacity left for progressive policy. And I am not referring to Brexit. Rather, the elevation of the financial sector as a primary force in the economy, dating back really to the Callaghan Labour government…

  • Towards a progressive rebuttal of the far Right narratives
    on 18 June 2026 by bill

    I saw a clip from John Stewart’s Daily Show yesterday where he showed some Fox News commentators (I think) talking about how they hate ‘woke’ and how they now have to put up with public events featuring “half naked men” (their slight against the gay community). Stewart then showed the next clip – the cage…

More Bill Mitchell @ billmitchell.org

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