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
- New glossary entry: macroeconomics
on 15 February 2026 by Richard MurphyMacroeconomics is the study of the economy as a whole: how national income, employment, inflation, investment, and financial stability are created and sustained. It asks Read the full article...
- New glossary entry: free marketson 15 February 2026 by Richard Murphy
“Free markets” is the phrase used to describe markets supposedly operating without government interference. It is one of the most powerful and totally incorrect myths Read the full article...
- Snow stopped play
on 15 February 2026 by Richard MurphyI am out birdwatching, although that may not be obvious from the amount of blogging going on. I am sitting in the window of the Read the full article...
- Finding your way around the blog
on 15 February 2026 by Richard MurphyA question came up this morning in the comments about how to find the 'economic questions' series on this blog. It occurred to me that Read the full article...
- New glossary entry: pleonexiaon 15 February 2026 by Richard Murphy
Regular commentator, PSR, used the term pleonexia in a comment here this morning. This reminded me that it required a glossary entry. This is it: Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Those who invoke the ‘Truss Moment’ should look at what is happening in Japanon 12 February 2026 by bill
In the annals of ruses used to provoke fear in the voting public about government deficits, central bank currency issuance, and fiscal activism, the experience of Germany in the 1920s was a long-standing favourite, that could be wheeled out on demand and have immediate effect. Wheelbarrows full of money being pushed to the local bakery…
- Upcoming London visit and public event detailson 9 February 2026 by bill
I will be working in the UK from February 19 to February 28, 2026. I have a range of activities mostly of a non-public nature ranging from meetings with publishers, a meeting with Jeremy Corbyn, and some other research-related meetings. I will also be speaking at the launch of the new Modern Monetary Theory (MMT)…
- Australian government aids and abets the view of a person implicated for inciting genocideon 9 February 2026 by bill
The Australian government has made an extraordinary decision to deeply divide the Australian community under the guise of advancing social cohesion and bringing us all together. How such a patently stupid political decision could be made by educated adults is beyond comprehension. Once again this is not one of my typical blog posts where I…
- RBA bows to financial market pressure and boost bank profits at the expense of low-income mortgage holderson 5 February 2026 by bill
The Reserve Bank of Australia (RBA) increased the policy rate by 0.25 points on Tuesday and claimed that it was because the inflationary outlook was in danger of accelerating out of control as a result of excessive demand pressures. This followed last week’s CPI release which showed the December increase to be 0.96 points. When…
- Japan’s Government Pension Investment Fund and the yen – mainstream macro myths driving bad policyon 2 February 2026 by bill
With a national election approaching in Japan (February 8, 2026), there has been a lot of discussion about the so-called ‘weak yen’ and whether the Bank of Japan should be intervening to manage the value of the currency on international markets. PM Takaichi has been quoted as saying that the weak yen is good for…
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