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
- Elon Musk and the NHS
on 16 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...
- Glossary entry: Renton 16 March 2026 by Richard Murphy
Rent is income derived from the ownership or control of a scarce asset rather than from productive effort or risk-taking. It arises when someone can Read the full article...
- Economic questions: the Thorstein Veblen questionon 16 March 2026 by Richard Murphy
This is one of a series of posts that will ask what the most pertinent question raised by a prominent influencer of political economy might have Read the full article...
- This is no minor war. Its ramifications will reverberate for a very long timeon 16 March 2026 by Richard Murphy
As the Guardian has reported: Donald Trump’s call for allies to send ships to the Strait of Hormuz to protect commercial shipping vessels and unblock Read the full article...
- The problem with employee share ownership schemeson 16 March 2026 by Richard Murphy
I was asked recently to discuss employee share ownership schemes. This was my response: The idea that employee share ownership can transform capitalism rests on Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- A structured approach for progressive political ambitions – Part 3on 15 March 2026 by bill
This is Part 3 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the fiscal…
- Interest rate hikes will not get ships moving through the Strait of Hormuz more quicklyon 12 March 2026 by bill
Regular readers will know that I hate the term NAIRU – or Non-Accelerating-Inflation-Rate-of-Unemployment – which is a concoction invented by mainstream economists to maintain unemployment at elevated levels (to keep the working class in its place) and give cover to central banks to run monetary policies that redistribute income from poor to rich. If you…
- A structured approach for progressive political ambitions – Part 2on 9 March 2026 by bill
This is the second part of a short series of briefing notes that arose out of discussions I had in London the week before last about how a progressive political party might want to break out of the shackles that the Labour Party has bound itself in with its obsession with fiscal rules and an…
- 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…
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