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
- Game over: this war was unjustified
on 17 March 2026 by Richard MurphySometimes, someone who is in a position to know says something that appears to be undoubtedly and incontrovertibly true. This is a headline just released Read the full article...
- The Joy of Mac
on 17 March 2026 by Richard MurphyThere are days when the odds appear to be stacked against you. Just after posting this morning’s video, and the post on electricity, I touched Read the full article...
- Economic questioins: the David Ricardo questionon 17 March 2026 by Richard Murphy
This is one of a series of posts that will ask what the most pertinent question raised by a prominent influencer of political economy might have Read the full article...
- Why gas sets the price of electricity, and why the economics behind it makes no senseon 17 March 2026 by Richard Murphy
The way electricity prices are determined in the UK is widely misunderstood. Many people assume the price reflects the cost of producing electricity from the Read the full article...
- 10% of GDP is fiction
on 17 March 2026 by Richard MurphyEveryone is told that economic growth is the key to prosperity. But what if a significant part of GDP, the number politicians obsess about, is Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- A structured approach for progressive political ambitions – Part 3on 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 quicklyon 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…
- A structured approach for progressive political ambitions – Part 2on 9 March 2026 by bill
This is the second part of a short series of briefing notes that arose out of discussions I had in London the week before last 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…
- Australian national accounts – growth is up but mostly because of inventory buildup which will reverseon 5 March 2026 by bill
I finally arrived back home late last night, so I am catching up today. Part 2 of the series I started on Monday will appear next Monday. Yesterday (March 4, 2026), the Australian Bureau of Statistics (ABS) released the latest – Australian National Accounts: National Income, Expenditure and Product, December 2025. The data shows that…
- A structured approach for progressive political ambitions – Part 1on 2 March 2026 by bill
I am stuck in London courtesy of the terrorist policies of Donald Trump and his Israeli gang mates. I arrived at Heathrow on Saturday expecting to be home by last evening only to learn that all flights via Doha were indefinitely suspended. Big problem. I was lucky to find a hotel room at the airport…
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