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
- Restore Britain wants to take us back to the economics of the 1930s
on 5 August 2026 by Richard MurphyRestore Britain’s new economic policy paper is, in many ways, a remarkable document, precisely because it is so economically absurd. Published a couple of days Read the full article...
- The capacity to destroy value inherent in late-stage capitalism knows few limits
on 5 August 2026 by Richard MurphyAs The Guardian reports this morning: Eight of the biggest oil companies amassed profits of more than $90bn (£67bn) in just three months as the Read the full article...
- Infographic: Political gaslighting
on 5 August 2026 by Richard MurphyI published an infographic on economic gaslighting yesterday. This seems like the obvious follow-up: How to expand this image If you press CTRL or Command Read the full article...
- Will Burnham’s devolution plans fail?
on 5 August 2026 by Richard MurphyAndy Burnham wants to give local authorities in England much greater financial power, but he is ignoring a crisis that makes this dangerous: the audit Read the full article...
- Ely – Funding the Future event – Saturday, October 3on 4 August 2026 by Richard Murphy
I’m pleased to advise that we have now booked a room at the Poets House Hotel in Ely for a Funding the Future meeting on Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Japan’s proposed investment boost will not run out of yenon 5 August 2026 by bill
The prophets of doom (Japan division) are back in town predicting the worst for the country. The UK Guardian even is getting in on the act (July 25, 2026) – Can Japan avoid a Liz Truss-style shock as its PM embarks on a giant spending spree?. It is interesting now that the prophets have a…
- A shift to fiscal surplus in Australia would amount to a criminal act by governmenton 3 August 2026 by bill
The former head of the Australian Treasury claims that: “Everybody knows the budget should be in surplus right now.” Well last time I checked I was still part of the body of humanity and I don’t know that. In fact, the fiscal balance is currently recording a deficit (which should be referred to as a…
- 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…
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