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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.

Upcoming event: MMT Forum 2026, Fri 18 Dec, 9:30am – 6pm, ISH Venues, London

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Posts from Richard Murphy at Tax Research UK

  • Are our politicians just twiddling their thumbs?
    on 16 October 2026 by Richard Murphy

    I struggled through this morning’s media news reports from the UK, USA and elsewhere. I usually end up with more ideas as a consequence of Read the full article...

  • An election remains on the cards
    on 16 October 2026 by Richard Murphy

    My belief that Andy Burnham is growing in confidence about his chances of electoral success has been reinforced by his comments made about the Greens Read the full article...

  • MMT, trade and the pound
    on 16 October 2026 by Richard Murphy

    What would happen to foreign exchange, imports and exports if the UK had a government that understood modern monetary theory? Would money leave Britain because Read the full article...

  • Funding the Future: the podcast at 900
    on 15 October 2026 by Richard Murphy

    Many podcasts disappear after only a handful of episodes. Seven episodes is a frequently cited figure, though reliable industry-wide statistics are surprisingly hard to establish. Read the full article...

  • FAB 2027
    on 15 October 2026 by Richard Murphy

    Having already noted this morning one new event at which I will be speaking before this year is out, let me note another at which 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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