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
- The Fed Just Raised Interest Rates. Recession is next
on 27 September 2026 by Richard MurphyI have a new podcast out with Prof. Radhika Desai: I really enjoyed this conversation. Like my conversations with John Christensen, I think this is Read the full article...
- Ottering
on 27 September 2026 by Richard MurphyI said I would go birdwatching yesterday. And I did. There are four types of geese in this photograph: greylag, Canada, punk-footed and Brent (much Read the full article...
- There is no such thing as taxpayers’ money
on 27 September 2026 by Richard MurphyPoliticians and economic commentators constantly talk about “taxpayers’ money”. In this video, I argue that this phrase fundamentally misrepresents how government spending and taxation work. Read the full article...
- The FT’s indifference to economic madness
on 26 September 2026 by Richard MurphyThe FT has this headline this morning: The claim is then made that: [The] S&P Global’s Purchasing Managers’ Index on Wednesday, ... surprised Wall Street Read the full article...
- Manchester City must be expelledon 26 September 2026 by Richard Murphy
As The Guardian and every other newspaper in the UK, and many other countries around the world, have reported this morning: Manchester City have been Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- RBA Monetary Policy Board member refutes on-going claims from the RBA governor about unemploymenton 27 September 2026 by bill
On September 22, 2026, a member of the Monetary Policy Board of the Reserve Bank of Australia (RBA) gave a speech – A Wage-price Spiral: What are the Chances? – at Melbourne University. The tenor of his presentation was that despite the constant recent claims about wages pressures emanating from a labour market that is…
- Australian labour market – full-time jobs decline as unemployment continues to riseon 24 September 2026 by bill
The labour market contraction that I have been signalling for the last two months continued in August. The Australian Bureau of Statistics (ABS) released the latest labour force data today (September 24, 2026) – Labour Force, Australia – for August 2026 – which showed that the labour market deteriorated further in August, in that full-time…
- The failure of neoliberalism and the progressive failure to articulate that has engendered the rise of the far Righton 21 September 2026 by bill
On Sunday (September 20, 2026), the two state elections in Germany confirmed a trend that has been unfolding for some years in fact – the polarisation of politics in nations, and, in particular the legitimisation of far Right politicians espousing views that are not inconsistent with the views of the National Socialists in Germany in…
- The elaborate farce being played out between the Bank of England and the British Treasuryon 16 September 2026 by bill
As at September 9, 2026, the Bank of England held £489,026 million in British government gilts (bonds). Since the beginning of February 2022, the Bank has been steadily selling of the stock of gilts it purchased as part of its Asset Purchase Facility (APF) over the period March 11, 2009 to December 15, 2021. These…
- Is opposition to the AI development the new Ludditism?on 14 September 2026 by bill
In the early C19th, skilled English textile workers fearing for their future wage earning capacity launched a campaign against the automated machinery that was fast being introduced into the factory system. The initial protests in Nottingham in 1811 spread quickly to Yorkshire and Lancashire. They became known as the – Luddites – a self-appointed title…
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