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
- England is splitting apart
on 8 May 2026 by Richard MurphyEngland’s local election results are revealing a dramatic political shift. Reform is making major gains across poorer regions, coastal towns, and former Labour heartlands, whilst Read the full article...
- Where are we now?on 8 May 2026 by Richard Murphy
There is something raw and exciting about an election night. For someone who has been an eager election result observer since the 1970 general election, Read the full article...
- The winner is clear. As is the biggest loser.
on 8 May 2026 by Richard MurphyStarting writing at what is, quite literally, the crack of dawn this morning, it is apparent that all the forecasts about the local elections in Read the full article...
- MMT and the central banking mython 7 May 2026 by Richard Murphy
I decided to publish our MMT Source Book this morning, and overnight, a query came in from Australia that would have made the cut if Read the full article...
- Is Trump manoeuvring markets?
on 7 May 2026 by Richard MurphyI liked this tweet posted on X yesterday: Is Trump manoeuvring markets with his announcements? You bet he is. And the sad fact is, they Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- RBA rate hikes – ideology triumphing over evidence and reasonon 7 May 2026 by bill
In some respects, we are back to where we were in 2021 when the supply constraints that arose from the COVID lockdowns and widespread illnesses started to reveal themselves in escalating prices around the world. This time it is the US-Israel folly in the Middle East that is the culprit and the supply constraints are…
- US economy on an unstable knife edge at presenton 4 May 2026 by bill
The income and wealth inequality that continues to grow in most advanced nations has led to some new terminology being introduced into the lexicon of economic terms, the – K-shaped economy: When growth moves in two different directions. When this pattern of growth is identified you know how far out of kilter the world has…
- Has the UAE seen the writing on the wall (peak oil that is)?on 30 April 2026 by bill
A lot of the post WW2 institutional structure is being challenged at present and/or vanishing altogether. Some of the changing environment will prove to be disastrous for the world, while some of the changes are likely to be beneficial. There will also be pro and con of many of the disruptions. Tomorrow (May 1, 2026),…
- My blog is on holiday todayon 27 April 2026 by bill
Today is a public holiday (ANZAC Day) where we remember the efforts of our past generations who fought in wars. This used to be a rather sombre day when some reflections were in order about the men and women who died ‘defending’ our nation. However, it is now a full-on, merch-driven, commercialised glorification of war…
- Robert Skidelsky death – some recollectionson 23 April 2026 by bill
The biographer of Keynes in three volumes – Robert Skidelsky – died on April 15, 2026 at the age of 84. As I explain below, Skidelsky was what we consider to be a mainstream ‘deficit dove’, who are Keynesian and Post Keynesian economists that are comfortable with using fiscal deficits to increase economic activity when…
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