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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.

Upcoming event: MMT Forum 2026, Fri 18 Dec, 9:30am – 6pm, ISH Venues, London

Posts from Richard Murphy at Tax Research UK

Posts from Bill Mitchell – Modern Monetary Theory

  • Seminar in Tokyo – Thursday, November 29, 2026
    on 28 October 2026 by bill

    On Thursday, November 29, 2026, I will be giving a presentation in Tokyo. The title of the seminar is: “The Need for and Feasibility of a ‘High-Pressure Economy: Determining Appropriate Levels of Investment in Light of Construction Sector Capacity'”. Read on for the details of how you can join via the live stream. The seminar…

  • Kyoto Report 2026 – 5
    on 27 October 2026 by bill

    This weekly report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. A seeming tyranny This bit is to be interpreted as a…

  • The intersection of neoliberalism and traditional Japanese values – Part 2
    on 26 October 2026 by bill

    Neoliberalism has scammed everyone. It told citizens that if we were liberated from government regulations and government control of enterprises that delivered essential services then we would attain the best possible outcomes that were available. A barrage of messaging from media companies blatantly serving the interests of capital and think tanks masquerading as independent research…

  • The intersection of neoliberalism and traditional Japanese values – Part 1
    on 22 October 2026 by bill

    In the West, particularly the English-speaking world, neoliberalism seemed to easily replace the collectivist values of the full employment era that followed the Second World War. It constructed a world where individualism was prioritised over society, even though it claimed that society (all of us) would be better off by pursuing our own greedy interests.…

  • Kyoto Report 2026 – 4
    on 20 October 2026 by bill

    This weekly report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. Signs I come across I had to go down into central…

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