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
- Burnham’s is pandering to the right over Jason Arday’s death
on 16 August 2026 by Richard MurphyThe FT reported yesterday that: Andy Burnham has called for a “moment of reflection” after the “tragic” death of Jason Arday, as tributes were paid Read the full article...
- Infographic: Bank interest
on 16 August 2026 by Richard MurphyAfter posting yesterday's infographic on how banks create money by lending, there were questions and challenges, both here and on Substack, about how this suggestion Read the full article...
- Debate Ammunition: The Cost-of-Living Crisison 16 August 2026 by Richard Murphy
THE RICHARD J MURPHY YOUTUBE CHANNEL DEBATE AMMUNITION The Cost-of-Living Crisis Funding the Future | August 2026 Topic The UK cost-of-living crisis is real and Read the full article...
- The cost-of-living crisis is hiding in plain sighton 16 August 2026 by Richard Murphy
Britain’s pubs can be busy, football grounds can be full, and airports can be crowded while millions of people are still struggling to pay for Read the full article...
- The late Jason Ardayon 15 August 2026 by Richard Murphy
We learned this morning that Jason Arday died yesterday, appearing to have taken his own life. I extend my sympathy to all of his family Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Radio MMT – Episode 79 Bill Mitchell: Marx & Socialismon 12 August 2026 by bill
I am travelling most of today and have commitments at the other end. So I have meaning to post his podcast I did with Melbourne radio station 3CR in July, so today is a good time to make it available here. As I understand it, this is an edited version of a longer talk that…
- Alt protein is the way forward and China is already well ahead of the rest who are infested with destructive neoliberal ideologyon 12 August 2026 by bill
With the Rhine drying up and grass turning brown all over Europe (including the UK), even conservative bodies such as the ECB are starting to take notice and comment. On July 2, 2026, a member of the Executive Board, Frank Elderson gave a speech to the 7th World Congress of Environmental and Resource Economists –…
- Be thankful for small mercies – proposed cut in Japan’s sale taxon 10 August 2026 by bill
Most of the economics commentary in the last few weeks about Japan has been about the need for higher interest rates or, relatedly, the ‘desperate’ foreign exchange intervention where the US allegedly bailed out Japan to prevent currency failure. All side issues really. The forex intervention said more about US paranoia than anything about Japan’s…
- Japan’s proposed investment boost will not run out of yenon 5 August 2026 by bill
The prophets of doom (Japan division) are back in town predicting the worst for the country. The UK Guardian even is getting in on the act (July 25, 2026) – Can Japan avoid a Liz Truss-style shock as its PM embarks on a giant spending spree?. It is interesting now that the prophets have a…
- A shift to fiscal surplus in Australia would amount to a criminal act by governmenton 3 August 2026 by bill
The former head of the Australian Treasury claims that: “Everybody knows the budget should be in surplus right now.” Well last time I checked I was still part of the body of humanity and I don’t know that. In fact, the fiscal balance is currently recording a deficit (which should be referred to as a…
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