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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

  • A better song to sing
    on 18 October 2026 by Richard Murphy

    I took the time to reflect yesterday. A week of intense work required that I take a break, but my brain rarely turns off, and Read the full article...

  • The collapse of neoliberalism: the podcast version
    on 18 October 2026 by Richard Murphy

    This is a podcast I recorded a little over a week ago with my old friend Tony Groves, who runs the Echo Chamber podcast in Read the full article...

  • Who really runs Britain?
    on 18 October 2026 by Richard Murphy

    Are we living through a new Gilded Age, where a small number of enormous corporations have accumulated too much economic and political power? In this Read the full article...

  • Scotland’s economic future
    on 17 October 2026 by Richard Murphy

    These were my speaking notes for the meeting I addressed this morning: SNP fringe meeting: Scotland’s economic future Richard Murphy The problem is not finding Read the full article...

  • Back tomorrow
    on 17 October 2026 by Richard Murphy

    I am doing an SNP Conference fringe meeting with Steve Keen and others, admittedly via a Zoom link, soon after 9 this morning. Until, and Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • 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…

  • Are the traditions of Japan consistent with an increasing GDP growth obsession – Part 1?
    on 12 October 2026 by bill

    I know I am venturing into the world shared by sociologists, cultural anthropologists, cultural historians, and economists in the current research that I am pursuing. The question is whether traditional Japanese values are compatible with a mainstream ideology that pursues ever increasing GDP growth as a goal, if not a reality. The current Japanese government…

  • Japan – Tracing the decline in construction employment since 1980
    on 8 October 2026 by bill

    In this blog post, I am continuing my work on examining the constraints in the Japanese infrastructure sector that would reduce the effectiveness of the fiscal expansion that the current government is proposing as a strategy to kickstart the economy and lift productivity. One approach is to decompose employment changes in the sector into the…

  • Kyoto Report 2026 – 2
    on 6 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. The weather is cooler than it has been and the last…

More Bill Mitchell @ billmitchell.org

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