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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

  • Will Burnham go to the polls?
    on 26 October 2026 by Richard Murphy

    Over the weekend, the latest opinion polls suggested Labour might now have 30% electoral support, with Reform enjoying 22%, the Conservatives at 20%, the Greens Read the full article...

  • We have a better world to build
    on 26 October 2026 by Richard Murphy

    Elections, and election results, dominate this morning’s news. President Lula has won in Brazil, against expectations. The result is tight, with Lula winning just over Read the full article...

  • Understanding Economics: Shareholder value
    on 26 October 2026 by Richard Murphy

    Should companies exist solely to make their shareholders richer? For decades, the idea of shareholder value has dominated corporate management, but I argue that this Read the full article...

  • BBC1 v birdwatching
    on 25 October 2026 by Richard Murphy

    I appeared on the BBC’s Sunday Morning Live programme today. You can, no doubt, find it on iPlayer, and the section that I took part Read the full article...

  • Channel 4: The analysis
    on 25 October 2026 by Richard Murphy

    This morning's video is about getting the message out there, and I seem to be getting the opportunity to do so at present. In this Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • The intersection of neoliberalism and traditional Japanese values – Part 1
    on 22 October 2026 by bill

    In the West, particularly the English-speaking world, neoliberalism seemed to easily replace the collectivist values of the full employment era that followed the Second World War. It constructed a world where individualism was prioritised over society, even though it claimed that society (all of us) would be better off by pursuing our own greedy interests.…

  • Kyoto Report 2026 – 4
    on 20 October 2026 by bill

    This weekly report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. Signs I come across I had to go down into central…

  • French protests reflect the dysfunctional architecture of the common currency
    on 19 October 2026 by bill

    The social instability in France is now spreading throughout Europe. Already there are mass protests in Spain and Portugal, Belgium, Italy, and Albania. In France, initially students began protesting over conditions in the schooling system, but the grievances and parties involved have broadened out and the increasingly chaotic scenes in Paris have spread out to…

  • Australian labour market – further deterioration and there is worse to come
    on 15 October 2026 by bill

    The labour market contraction that I have been signalling for the last three months continued in September. The rising unemployment rate and the declining employment levels are all down to the work of the RBA and its ridiculous interest rate increases. Given the lag in interest rates impacting on the real economy, the current labour…

  • Kyoto Report 2026 – 3
    on 13 October 2026 by bill

    This weekly report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. Kurama – the hot spring that isn’t! I have resisted travelling…

More Bill Mitchell @ billmitchell.org

Other Modern Money Theory Proponents

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