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.
Upcoming event: MMT Forum 2026, Fri 18 Dec, 9:30am – 6pm, ISH Venues, London
Posts from Richard Murphy at Tax Research UK
- The crises facing us are developingon 24 October 2026 by Richard Murphy
What does a crisis look like? This: That's the chart of the benchmark Brent crude oil price over the last 6 months, and it is Read the full article...
- Does Britain have a debt crisis?on 24 October 2026 by Richard Murphy
We put out this short video last night: These appear to be succeeding in raising our profile on Instagram. The best way to view it Read the full article...
- Understanding Economics: What is tax for?on 24 October 2026 by Richard Murphy
Why do we pay tax? Most people believe taxation exists to fund government spending. But what if that is not actually its primary purpose? In Read the full article...
- The Scottish Currency Group conference – tomorrowon 23 October 2026 by Richard Murphy
I will be speaking at the Scottish Currency Group conference in Dunfermline on Saturday. I had hoped to be there in person, but major scheduled Read the full article...
- The AI bubble is ending, which is good news for interest rateson 23 October 2026 by Richard Murphy
The FT includes this headline this morning: There are a number of things to note. Firstly, there is growing evidence that the retreat from AI Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- The intersection of neoliberalism and traditional Japanese values – Part 1on 22 October 2026 by bill
In the West, particularly the English-speaking world, neoliberalism seemed to easily replace the collectivist values of the full employment era that followed the Second World War. It constructed a world where individualism was prioritised over society, even though it claimed that society (all of us) would be better off by pursuing our own greedy interests.…
- Kyoto Report 2026 – 4on 20 October 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. Signs I come across I had to go down into central…
- French protests reflect the dysfunctional architecture of the common currencyon 19 October 2026 by bill
The social instability in France is now spreading throughout Europe. Already there are mass protests in Spain and Portugal, Belgium, Italy, and Albania. In France, initially students began protesting over conditions in the schooling system, but the grievances and parties involved have broadened out and the increasingly chaotic scenes in Paris have spread out to…
- Australian labour market – further deterioration and there is worse to comeon 15 October 2026 by bill
The labour market contraction that I have been signalling for the last three months continued in September. The rising unemployment rate and the declining employment levels are all down to the work of the RBA and its ridiculous interest rate increases. Given the lag in interest rates impacting on the real economy, the current labour…
- Kyoto Report 2026 – 3on 13 October 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. Kurama – the hot spring that isn’t! I have resisted travelling…
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









