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
- If we want to beat fascism, the answer is easy: scrap neoliberalism
on 8 September 2026 by Richard MurphyThe media appears to have woken up to the fact that there is a right-wing, profoundly fascist threat to stability within the UK. Events over Read the full article...
- Ther oil price is rising: the Great Discomfort is coming
on 8 September 2026 by Richard MurphyThis was the FT's chart of the Brent oil crude price per barrel at the close of business yesterday: Now $99 a barrel, and inexorably Read the full article...
- The rise of Chinaon 8 September 2026 by Richard Murphy
As The Guardian reported in the last day or so: Job losses in EU manufacturing will rapidly increase unless Brussels stops the “colonisation” of industry Read the full article...
- How to Govern: Creating the Courageous State
on 8 September 2026 by Richard MurphyBetween writing blog posts, dealing with comments, doing some birdwatching, and fitting in the rest of the day, I did a lot of thinking, dictating, Read the full article...
- The Great Discomfort is comingon 8 September 2026 by Richard Murphy
The Great Discomfort is coming. A financial crisis could expose just how fragile middle class security has become. For decades, millions of people have been Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Yen starts to appreciate again – as you were!on 7 September 2026 by bill
In recent months, the mainstream media commentators have been issuing increasing lurid predictions of how the ‘out of control’ fiscal situation in Japan is killing the yen and a full-scale currency crisis was imminent, after the yen moved across the ‘fabled’ 160 mark against the US dollar. What is ‘fabled’ about that threshold is anyone’s…
- Latest Australian national accounts data provide no justification for further interest rate riseson 3 September 2026 by bill
I am travelling a lot today and so this is just a brief reflection on the response in the media to yesterday’s National Account release from the Australian Bureau of Statistics. The reaction from the mainstream media has been rather incredulous with most commentators claiming in the most lurid terms that the figures mean that…
- Australian national accounts – subdued conditions continue amidst an EV purchasing boomon 2 September 2026 by bill
The Australian Bureau of Statistics (ABS) released the latest – Australian National Accounts: National Income, Expenditure and Product, June 2026 – today (September 2, 2026). This data is now starting to reflect the full impacts of the Middle East disruptions and the interest rate impacts arising from the recent hikes in rates from the RBA.…
- 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…
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