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
- 2026 has the potential to be very much worse than even I expect.
on 24 April 2026 by Richard MurphyThe Guardian reports this today, reflecting the fact that my opinion that stock exchanges are overvalued is now shared by the Bank of England: Stock Read the full article...
- Is the UK past its sell by date?
on 24 April 2026 by Richard MurphyIt is a truth, universally acknowledged, that a Prime Minister in office beyond their use-by date fails to recognise that fact, and has to be Read the full article...
- Government borrowing is going to increase. It’s up to all of us here to explain this fact.
on 24 April 2026 by Richard MurphyThe indications are that the world is beginning to understand the complete and utter economic mess that will be the lasting legacy of 2026. Trump Read the full article...
- What would I do as chancellor?on 24 April 2026 by Richard Murphy
What would I do on my first day in office as Chancellor to create an economy in the UK based on the thinking that modern Read the full article...
- The world needs an education system designed for dreamers.on 23 April 2026 by Richard Murphy
I came across this quote, which was attributed to Albert Szent-Gyorgyi, a Nobel laureate biochemist. I have also seen it attributed to Einstein. The basic texture of Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Robert Skidelsky death – some recollectionson 23 April 2026 by bill
The biographer of Keynes in three volumes – Robert Skidelsky – died on April 15, 2026 at the age of 84. As I explain below, Skidelsky was what we consider to be a mainstream ‘deficit dove’, who are Keynesian and Post Keynesian economists that are comfortable with using fiscal deficits to increase economic activity when…
- A classic case of the Australian government denying that it is the Australian governmenton 20 April 2026 by bill
Most of the examples of fiscal austerity leave one puzzled as a result of the sheer myopia that is usually present – the ‘save a penny today to spend a dollar tomorrow’ sort of nonsense that history tells us repeats when governments try to reduce spending in areas that it should not. But sometimes one…
- Australian labour market – largely stable but dark clouds presenton 16 April 2026 by bill
The Australian Bureau of Statistics (ABS) released the latest labour force data today (APRIL 16, 2026) – Labour Force, Australia – for March 2026 – which showed that the labour market steadied after last month’s contraction. While employment growth remained positive and was dominated by full-time work gains (as part-time employment fell), the fact that…
- A structured approach for progressive political ambitions – Part 7on 13 April 2026 by bill
This is Part 7 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the British Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the…
- A structured approach for progressive political ambitions – Part 6on 9 April 2026 by bill
This is Part 6 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the British Labour Party has bound itself in with its obsession with fiscal rules and an adherence to 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