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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

  • 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…

  • Shipping disruptions unlikely to precipitate another inflation surge
    on 9 October 2024 by bill

    It’s Wednesday and while I usually have a few topics to discuss, today I am concentrating on the recent disruptions to shipping channels and the likely impact on inflation. I was also hoping to post a video of the recent launch of my new book with Warren Mosler in Melbourne on September 12, 2024 but…

  • Kyoto Report 2024 – 1
    on 8 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. Well I am back in Kyoto for an extended period and it is unseasonably hot and humid for October. It seems that the warm weather will endure throughout October at…

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