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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

  • Funding the future
    on 1 July 2026 by Richard Murphy

    The supposed need for increased UK defence spending - although on what no one seems to know - and the claim by Keir Starmer that Read the full article...

  • The US lesson for the politics of care: be rid of the neoliberals
    on 1 July 2026 by Richard Murphy

    In the USA, some Democrats have smelt the coffee when it comes to the perpetuation of corporate control of that party by DINOs - Democrats Read the full article...

  • The next round of austerity is on its way
    on 1 July 2026 by Richard Murphy

    It is often said that you can know a person by the company they choose to keep. Andy Burnham has chosen Tory-appointed, former Goldman Sachs Read the full article...

  • Cooperation
    on 1 July 2026 by Richard Murphy

    This is the fifth in a series of essays on the politics of care and economics of hope. The others are listed at the end of this Read the full article...

  • Time for a change?
    on 1 July 2026 by Richard Murphy

    An unexpected week away from making videos—thanks to a kidney stone that I wouldn’t wish on anyone—gave me something I almost never have: time to Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • Apparently the RBA has the interests of the unemployed it is putting out of work at heart. Not!
    on 29 June 2026 by bill

    Economics and business correspondents regularly serve as apologists for poor policy. Their motivation is to file a story and often they take the easy way out by paraphrasing press releases put out by some conservative think tank, or economist, or corporation without any critical scrutiny being applied and then masquerade their article as opinion. The…

  • Australian labour market – slight improvement after dismal results in April
    on 25 June 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (June 25, 2026) – Labour Force, Australia – for May 2026 – which showed that the labour market improved slightly in May after a poor showing in the April figures. However, there are now 10.2 per cent of available labour not being…

  • Replacing Starmer/Reeves with another captive of the finance sector will change nothing
    on 22 June 2026 by bill

    Successive governments in the UK – Labour and Tory – have pushed the nation to the brink where there is little capacity left for progressive policy. And I am not referring to Brexit. Rather, the elevation of the financial sector as a primary force in the economy, dating back really to the Callaghan Labour government…

  • Towards a progressive rebuttal of the far Right narratives
    on 18 June 2026 by bill

    I saw a clip from John Stewart’s Daily Show yesterday where he showed some Fox News commentators (I think) talking about how they hate ‘woke’ and how they now have to put up with public events featuring “half naked men” (their slight against the gay community). Stewart then showed the next clip – the cage…

  • Can capitalism survive? Not if we want to solve the climate and poverty crisis
    on 15 June 2026 by bill

    The opening line of Part II of Joseph Schumpeter’s 1942 book – Capitalism, Socialism and Democracy – was “Can capitalism survive? No, I do not think it can”. His thesis was not that capitalism would perform badly, quite the opposite. Rather the considered that “its very success undermines the social institutions which protect it, and…

More Bill Mitchell @ billmitchell.org

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