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
- Reflections
on 7 March 2026 by Richard MurphyA summary of my day. A picture of reflections at Welney this morning: Screenshot
- Fatigue
on 7 March 2026 by Richard MurphyI cannot be alone in feeling utterly fatigued by the news, by the state of the world, by what is happening all around us, and Read the full article...
- Will Middle East war trigger economic shock?on 7 March 2026 by Richard Murphy
The conflict in the Middle East is not just a military crisis. It is rapidly becoming a global economic shock. With the Strait of Hormuz Read the full article...
- Government deficits are not failure
on 6 March 2026 by Richard MurphyWe have just published this short video on YouTube and many other channels. If you like it, please share it far and wide - because Read the full article...
- How long can Trump keep this going?
on 6 March 2026 by Richard MurphyThis data comes from the really useful US-based Strength in Numbers Substack. It shows all opinion poll results in the USA in the last week Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- 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…
- Inflation in Japan – invariant to monetary policy and be careful what you wish for (tourism)on 26 February 2026 by bill
I have been thinking about the recent inflation trajectory in Japan in the light of constant calls from mainstream economists (including a bevy of private bank economists who work for institutions that benefit from interest rate hikes) for the Bank of Japan to hike rates. What is driving CPI movements? What has been the impact…
- A successful degrowth strategy will require a massive redistribution of income and wealth towards the pooreston 23 February 2026 by bill
It is true that all big cities have areas of poverty that is visible from the streets. But I am always a bit shocked when I travel to London, where I am currently working, because the inequality is very obvious. As I work more on the degrowth, decolonisation project that I am currently involved in,…
- Australian labour market – labour demand tracks labour supply – steadyon 19 February 2026 by bill
I am late today because I am writing this in London after travelling the last 24 hours. The Australian Bureau of Statistics (ABS) released the latest labour force data today (February 19, 2026) – Labour Force, Australia – for January 2026 – which showed that the labour market was essentially steady in that employment kept…
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