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
- For how long will peace in the Middle East last?
on 15 June 2026 by Richard MurphyWe supposedly have peace in the Middle East, but for how long will it last? Note: There is a poll embedded within this post, please Read the full article...
- We need a Courageous State to fight neoliberalismon 15 June 2026 by Richard Murphy
I read the Substack essay that Nigel Farage supposedly wrote yesterday. I use the word supposedly deliberately because I do not think that Nigel Farage Read the full article...
- Why are banks abandoning us?on 15 June 2026 by Richard Murphy
Banks are closing branches across the UK. Post offices are disappearing. HMRC no longer offers local tax offices. Local authorities increasingly expect everything to be Read the full article...
- Why do older people support the far-right?on 14 June 2026 by Richard Murphy
Why is it that by far the largest group in the population that supports Reform and other far-right parties is those over the age of Read the full article...
- A touch of realism is requiredon 14 June 2026 by Richard Murphy
According to Pakistan, the US and Iran are close to signing a Memorandum of Understanding about peace talks to resolve the war in the Gulf. Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Can capitalism survive? Not if we want to solve the climate and poverty crisison 15 June 2026 by bill
The opening line of Part II of Joseph Schumpeter’s 1942 book – Capitalism, Socialism and Democracy – were “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…
- Apparently the UK government is about to do the impossible – run out of sterlingon 11 June 2026 by bill
Go back to the headlines in 2010 – – “Countries with debt over 90 percent of GDP enter a danger zone”. The 90 per cent threshold entered the media coverage as a result of a paper released by Harvard economists Ken Rogoff and Carmen Reinhart – Growth in a Time of Debt. That paper talked…
- My blog is on holiday todayon 8 June 2026 by bill
Today is a public holiday in the parts of Australia that I live and I have travel commitments. So I’ll be back on Thursday. What is this holiday about? Yes, it is deeply embarrassing but today is the King’s Birthday holiday in Australia that is meant to celebrate our glorious head of state, given that…
- Australia’s lowest paid workers enjoy a modest real wage gain courtesy Fair Work Commissionon 4 June 2026 by bill
On May 19, 2026, Oxfam Australia’s media release – Australian billionaires’ wealth grows by $50,000 per minute – informed us of the growing inequality in Australia, a country that promotes a ‘legend’ that egalitarianism is at its core. I will discuss their research in detail at another time but the results are stunning. In a…
- Australian national accounts – economy weakened in the March-quarter (and we are yet to see the Trump War impact)on 3 June 2026 by bill
Today (June 3, 2026), the Australian Bureau of Statistics (ABS) released the latest – Australian National Accounts: National Income, Expenditure and Product, March 2026. This data does not really capture the full impact on the Middle East disruptions nor do they capture any interest rate impacts arising from the recent hikes in rates from the…
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