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
- We need a new Rent Acton 20 August 2025 by Richard Murphy
The issue of rents was on my mind yesterday, with both a post and a video on the subject. So, last night I did a Read the full article...
- The comment word-limit app on this blogon 20 August 2025 by Richard Murphy
Andy Moyle, who runs the tech on this site, reviewed the word-limit app we have been using last night in response to comments about problems, Read the full article...
- What is fascism?on 20 August 2025 by Richard Murphy
There was a pile-on of commentators challenging my right to describe far-right politics as fascist on this blog yesterday. This has happened before, and in Read the full article...
- Where are the leaders? Putin, Ukraine, Trump, and the collapse of convictionon 20 August 2025 by Richard Murphy
What happens when politics dies in August? A flight of leaders to Washington that achieved nothing. Trump was flattered. Zelensky was patronised. And the rest? Read the full article...
- Rent crisis Britainon 19 August 2025 by Richard Murphy
Rents in the UK are out of control. In London, they now swallow more than 40% of income. Across England, it’s 36%. For millions, life Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Productivity growth is not the only source of increases in material well-being for the majorityon 18 August 2025 by bill
One of the issues that emerges when one is studying undergraduate macroeconomics is that there is a curious disregard for the role that income and wealth distribution play in determining the aggregate outcomes, that are at the centre of the study. Most students in my cohort didn’t think about that and the curriculum certainly didn’t…
- Australian labour market – slight improvement but uncertainty continueson 14 August 2025 by bill
The Australian Bureau of Statistics (ABS) released the latest labour force data today (August 14, 2025) – Labour Force, Australia – for July 2025, which reveals that last month’s gloom might not have been the start of a downward trend. The current data has blurred that outlook and the best we can say is that…
- Australian workers get modest real wage gains in latest data – finallyon 13 August 2025 by bill
Yesterday, the Reserve Bank of Australia finally lowered interest rates some months after it became clear the economy is slowing and the labour market is getting weaker. The RBA remain fixated on their claims that wages growth is too high. In yesterday’s – Statement by the Monetary Policy Board: Monetary Policy Decision ((August 12, 2025)…
- What does it mean for a nation to become bankrupt?on 11 August 2025 by bill
The reason I ask that question is because I read in the UK Guardian article yesterday (published August 11, 2025) – As dark financial clouds gather, Labour has to heed its past: when it chooses austerity, it loses elections – that “Britain is in danger of going bankrupt. It may happen slowly or quickly, but…
- The British government’s obsession with the fiscal rules is driving the economy towards recessionon 7 August 2025 by bill
The UK economy is heading into a malaise. The latest news – UK construction activity in July falls at steepest rate since Covid (August 6, 2025) – and – UK services sector has biggest fall in orders for nearly three years (August 5, 2025) – confirms that there is a slowdown underway. That was prefaced…
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