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
- It’s time to nationalise our web infrastructure
on 5 October 2026 by Richard MurphyAs the Telegraph reports this morning: BT has rescued TalkTalk from administration in a £400m deal that raises competition concerns. The FTSE 100 telecoms giant Read the full article...
- Reshaping thinkingon 5 October 2026 by Richard Murphy
The event that we held in Ely on Saturday was, I think, a success. My team assured me they felt this way, and I have Read the full article...
- What’s wrong with The Right Way?on 5 October 2026 by Richard Murphy
Kemi Badenoch’s The Right Way, published yesterday to mark the start of the otherwise neatly irrelevant Tory party conference, matters because it is not really Read the full article...
- Tax does not pay for government spending. So what is it for?
on 5 October 2026 by Richard MurphyWhat is tax really for? Most people assume that governments need to collect tax before they can spend. But for a government like that of Read the full article...
- Solution focussed campaigning
on 4 October 2026 by Richard MurphyOur event in Ely yesterday was, I think, a great success. We addressed solution-focused campaigning, which is also the topic of today’s podcast with John Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Is a high-pressure economy strategy in Japan viable?on 5 October 2026 by bill
I am currently working on developing models that help evaluate the constraints on fiscal expansion in Japan arising from the ageing workforce in the construction sector. The current government under Ms. Takaichi is pursuing what they call a “responsible proactive fiscal policy” that aims to utilise large-scale public investment spending to crowd-in private investment expenditure…
- Kyoto Report 2026 – 1on 30 September 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. For the next several weeks I am working once again at…
- RBA Monetary Policy Board member refutes on-going claims from the RBA governor about unemploymenton 27 September 2026 by bill
On September 22, 2026, a member of the Monetary Policy Board of the Reserve Bank of Australia (RBA) gave a speech – A Wage-price Spiral: What are the Chances? – at Melbourne University. The tenor of his presentation was that despite the constant recent claims about wages pressures emanating from a labour market that is…
- Australian labour market – full-time jobs decline as unemployment continues to riseon 24 September 2026 by bill
The labour market contraction that I have been signalling for the last two months continued in August. The Australian Bureau of Statistics (ABS) released the latest labour force data today (September 24, 2026) – Labour Force, Australia – for August 2026 – which showed that the labour market deteriorated further in August, in that full-time…
- The failure of neoliberalism and the progressive failure to articulate that has engendered the rise of the far Righton 21 September 2026 by bill
On Sunday (September 20, 2026), the two state elections in Germany confirmed a trend that has been unfolding for some years in fact – the polarisation of politics in nations, and, in particular the legitimisation of far Right politicians espousing views that are not inconsistent with the views of the National Socialists in Germany in…
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