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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.

Posts from Richard Murphy at Tax Research UK

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Posts from Bill Mitchell – Modern Monetary Theory

  • The Smith Family MMT Manga – Episode 2 for Season 3 is now available
    on 24 July 2025 by bill

    Season 3 of the – The Smith Family and their Adventures with Money – produced by MMTed continues today (July 24, 2025). Ryan lost his job in the recession and went to pieces, drinking too much and gambling the family funds away. Elizabeth kicked him out and now, with a new mission, he has asked…

  • The report of the Special Envoy to Combat Antisemitism in Australia should be categorically rejected by government
    on 24 July 2025 by bill

    In July 2024, as a knee jerk reaction to pressure being put on it by powerful lobby groups in Australia, the Federal Government created a Special Envoy to Combat Antisemitism. After it was pointed out that this seemed an odd creation, especially given that Australia has relatively strong racial discrimination and laws that protect freedom…

  • Britain’s Leeds Reforms – jumping the shark comes to mind
    on 21 July 2025 by bill

    Last week (July 15, 2025), the British Chancellor delivered the – Rachel Reeves Mansion House 2025 speech – which is an annual event where the Chancellor outlines the state of the economy and what the government is doing. Mansion House, London – is the official residence of London’s Lord Mayor and is located in the…

  • Australian labour market – evidence is mounting of policy sabotage driving the unemployment rate up
    on 17 July 2025 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (July 17, 2025) – Labour Force, Australia – for June 2025, which reveals that finally, the slack that the combination of the fiscal austerity and the high interest rates has created is feeding into the labour market as employment growth slows and…

  • How to break out of the commodification of everything
    on 13 July 2025 by bill

    Regular readers will know that I run a bit, like lots. Last week, while I was in Europe, I decided to stay on Australian time, given the brevity of the mission, so I found myself running at midnight or just after awaking at 22:00 or 23:00 (after going to sleep around 14:00). It turned out…

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