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
- A gentle curve to the left
on 31 August 2026 by Richard MurphyJacqueline and I were out in Theford Forest fairly early this morning, brainstorming video content, book ideas and more. The road we followed seemed to Read the full article...
- Just saying….
on 31 August 2026 by Richard MurphyI keep on saying that this autumn is going to be mightily difficult. Fuel shortages will hit hard. Food prices will rise. Fertiliser shortages and Read the full article...
- A letter to a believer in Burnhamon 31 August 2026 by Richard Murphy
I spoke with a friend yesterday. We were at a social event. I have known him for a long time. I think I upset him. Read the full article...
- Understanding economics: What is wealth?
on 31 August 2026 by Richard MurphyMoney is not wealth. That single distinction is one of the most important things economics has to teach, and we have been getting it wrong. Read the full article...
- How the bank has fallen
on 30 August 2026 by Richard MurphyI took this photo on Ely High Street earlier this week. The former Capital and Counties Bank logo is still emblazoned on their one-time property, Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Why do we support political inaction that undermines our well-being?on 31 August 2026 by bill
I have been very sad in the last week or so as the news of the environmental devastation and its impact on human life in Nepal has steadily infiltrated our attention. The causes of that disaster are many but overwhelmingly point to the impact of climate change on the Himalayan permafrost and glacial lakes, which,…
- Government debt hysteria relies on acceptance of a totally unnecessary administrative practiceon 26 August 2026 by bill
As a followup on Monday’s blog post – Australian government debt approaching $A1 trillion – who cares? Everybody it seems but me (August 24, 2026) – there is an additional aspect of the hysteria around government debt levels that was implicit in that post but bears more detailed discussion. What I am writing today is…
- Australian government debt approaching $A1 trillion – who cares? Everybody it seems but meon 24 August 2026 by bill
The neoliberal era has made humanity progressively crazy when it comes to currency matters. At the moment, this trend seems to have reached new heights of absurdity. I note that the US government is now buying up its own debt with more debt as a cover for the stupidity that its President and his lackeys…
- Australian labour market – unemployment continues to rise as a deliberate policy choiceon 20 August 2026 by bill
Last month, I noted that the sharp shift towards part-time work was the first signal that a labour market contraction was coming. The latest data released today confirms that the contraction is now eating into overall employment and pushing the unemployment rate up. The Australian Bureau of Statistics (ABS) released the latest labour force data…
- Real wages in Australia decline for the third consecutive quarteron 19 August 2026 by bill
Today (August 19, 2026), the Australian Bureau of Statistics released the latest – Wage Price Index, Australia – for the June-quarter 2026, which shows that the aggregate wage index rose by 3.2 per cent over the 12 months down from 3.4 per cent in the March-quarter. With the annual inflation rate for the June-quarter came…
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