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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

Posts from Bill Mitchell – Modern Monetary Theory

  • Australian labour market – positive shift in September 2024
    on 17 October 2024 by bill

    Today (October 17, 2024), the Australian Bureau of Statistics released the latest – Labour Force, Australia – for September 2024, which shows that the labour outlook shifted towards the positive in September 2024. Employment growth was above the year’s average and was biased towards the net creation of full-time jobs and underemployment fell. The unemployment…

  • Video of Australian book launch of ‘Modern Monetary Theory: Bill and Warren’s Excellent Adventure’
    on 16 October 2024 by bill

    It’s Wednesday and as usual I am writing about a few issues rather than providing a detailed analysis of a specific issue. Today, I publish the video of Australian launch of our new book – Modern Monetary Theory: Bill and Warren’s Excellent Adventure. I also comment on the current situation in the Middle East and…

  • Kyoto Report 2024 – No 2
    on 15 October 2024 by bill

    This Tuesday report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan. Life is settling down here again – it always takes a week or so to put my Japanese shoes on so to speak and get used to the different sounds…

  • The British government does not have to appease the financial markets
    on 14 October 2024 by bill

    Sometimes one journalistic piece captures the problem facing those who are trying to change the economics narrative and promote an alternative framing that is ground in the reality of the system rather than one that serves to reinforce the dominant ideology of the elites. The opinion article by Larry Elliot in yesterday’s UK Guardian (October…

  • More misery and dysfunction coming for France – as the fiscal rules bite
    on 10 October 2024 by bill

    For all those Europhile progressives who have held out that reform is the way to deal with the neoliberalism of the European Union and even, in some cases, claimed that the austerity mindset was over (once the fiscal rules enshrined in the Stability and Growth Pact were temporarily suspended during the pandemic), the behaviour of…

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