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
- Developing a Fair & Sustainable Economyon 19 May 2026 by Richard Murphy
For the second day running, as if one video is not enough, I have a second one to offer. This is a recording from Scotland's Read the full article...
- Trump’s attack on the ICC is really an attack on the rule of lawon 19 May 2026 by Richard Murphy
The Financial Times has reported that during discussions with Xi Jinping, Donald Trump suggested that the US, China and Russia should effectively collaborate against the Read the full article...
- Are people just “lower-value human capital”?on 19 May 2026 by Richard Murphy
The Financial Times reports this morning that Standard Chartered plans to cut more than 7,800 back-office jobs by 2030. These cuts will mean around 15 Read the full article...
- Andy Burnham’s economics will not workon 19 May 2026 by Richard Murphy
Andy Burnham says he wants to break with the failed neoliberal economics that have damaged Britain for decades. He talks about public ownership, reindustrialisation, regional investment Read the full article...
- Starmer, Burnham, the Hapless Horseraceon 18 May 2026 by Richard Murphy
This podcast was recorded on Friday for the Echo Chamber podcast, now run by Tony Groves, in Dublin. We were discussing UK themes on this Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Australian government being bullied by the RBA to move towards irresponsible austerityon 18 May 2026 by bill
Last Tuesday (May 12, 2026), the Australian Treasurer introduced the 2026-27 Fiscal Statement (aka Federal ‘Budget’). I have been reluctant to comment on the ‘Statement’ given the constant repetition by the Treasurer about a ‘trillion dollars of debt’ and all the rest of the flawed conceptual development and nomenclature that has surrounded its release and…
- Latest wages data makes a mockery of the RBA claims that the economy is overheatingon 14 May 2026 by bill
Last week, the RBA hiked interest rates again and tried to claim the economy was overheating. One way that we assess that claim is via the wages pressure in the labour market. An economy that is running out of productive resources, typically sees firms competing for scarce workers and bidding up wages to attract them.…
- Article 4 of the Bank of Japan Act 1997 ensures fiscal and monetary policy must work togetheron 11 May 2026 by bill
Last week, the RBA increased interested rates claiming there was a growing capacity constraint (even though there is 10.2 per cent labour underutilisation) and inflationary expectations were increasing and in danger of propelling inflation even further. The RBA governor once again threatened the Treasurer along the lines of ‘unless you cut net spending we will…
- RBA rate hikes – ideology triumphing over evidence and reasonon 7 May 2026 by bill
In some respects, we are back to where we were in 2021 when the supply constraints that arose from the COVID lockdowns and widespread illnesses started to reveal themselves in escalating prices around the world. This time it is the US-Israel folly in the Middle East that is the culprit and the supply constraints are…
- US economy on an unstable knife edge at presenton 4 May 2026 by bill
The income and wealth inequality that continues to grow in most advanced nations has led to some new terminology being introduced into the lexicon of economic terms, the – K-shaped economy: When growth moves in two different directions. When this pattern of growth is identified you know how far out of kilter the world has…
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





