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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.

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Posts from Richard Murphy at Tax Research UK

  • The single transferable party is dying
    on 29 March 2026 by Richard Murphy

    New opinion poll data published by The Independent newspaper late last week is interesting: However, it is looked at, there is only good news in Read the full article...

  • Half a million
    on 29 March 2026 by Richard Murphy

    I was pleased to see this reported in the Guardian last night: Tens of thousands of people have gathered in London to march against the Read the full article...

  • MMT and the job guarantee
    on 29 March 2026 by Richard Murphy

    At the recent Scottish Festival of Economics, held in Edinburgh, Warren Mosler, who is credited with creating modern monetary theory (MMT), was asked whether he Read the full article...

  • New glossary entry: the job guarantee
    on 29 March 2026 by Richard Murphy

    The so-called job guarantee is a policy proposal associated with modern monetary theory (MMT) that seeks to achieve full employment by offering a publicly funded Read the full article...

  • The five things that really matter in life
    on 29 March 2026 by Richard Murphy

    We have just published this short video on YouTube and many other channels. This is the transcript: We’re told that success in life means having Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • New Green-linked report in Britain avoids the critical issue
    on 26 March 2026 by bill

    I read a new Report this morning – Waste Not – that was published by a new unit in Britain called Verdant, which seems to have links to the England and Wales Green Party. The work is interesting and raises several issues that bear on how government fiscal policy should be assessed. The issues I…

  • A structured approach for progressive political ambitions – Part 4
    on 23 March 2026 by bill

    This is Part 4 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the British Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the…

  • Australian labour market – unemployment rises sharply – hard to reconcile with RBA’s excess demand claim
    on 19 March 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (March 19, 2026) – Labour Force, Australia – for February 2026 – which showed that the labour market had gone backwards. While employment growth remained positive, full-time work fell. The participation rate rose, which in some situations indicates a positive outlook as…

  • A structured approach for progressive political ambitions – Part 3
    on 15 March 2026 by bill

    This is Part 3 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the fiscal…

  • Interest rate hikes will not get ships moving through the Strait of Hormuz more quickly
    on 12 March 2026 by bill

    Regular readers will know that I hate the term NAIRU – or Non-Accelerating-Inflation-Rate-of-Unemployment – which is a concoction invented by mainstream economists to maintain unemployment at elevated levels (to keep the working class in its place) and give cover to central banks to run monetary policies that redistribute income from poor to rich. If you…

More Bill Mitchell @ billmitchell.org

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