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
- The axis of evil
on 12 March 2026 by Richard MurphyPolitico noted last night: Italian Prime Minister Giorgia Meloni on Wednesday joined a growing European backlash against the U.S. and Israeli strikes on Iran. The Read the full article...
- I am tired of waron 12 March 2026 by Richard Murphy
War dominates the headlines again, but behind the geopolitics lies something much simpler: human exhaustion. People are tired of conflict, tired of anger, tired of Read the full article...
- Where did you come from?
on 12 March 2026 by Richard MurphyWe have begun to do some analysis on the feedback from our event in Cambridge on 28th February. The thing that has surprised us, perhaps Read the full article...
- Libel law still needs reformon 12 March 2026 by Richard Murphy
This is excellent news from the Good Law Project: The High Court has dismissed an £8m defamation claim brought against a journalist, branding it “spectacularly inflated” and Read the full article...
- Mandelsonon 12 March 2026 by Richard Murphy
There are four things to say about the the Mandelson papers: Starmer knew about Epstein, as did McSweeney. They appointed him anyway. They did not Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Interest rate hikes will not get ships moving through the Strait of Hormuz more quicklyon 12 March 2026 by bill
Regular readers will know that I hate the term NAIRU – or Non-Accelerating-Inflation-Rate-of-Unemployment – which is a concoction invented by mainstream economists to maintain unemployment at elevated levels (to keep the working class in its place) and give cover to central banks to run monetary policies that redistribute income from poor to rich. If you…
- A structured approach for progressive political ambitions – Part 2on 9 March 2026 by bill
This is the second part of a short series of briefing notes that arose out of discussions I had in London the week before last about how a progressive political party might want to break out of the shackles that the Labour Party has bound itself in with its obsession with fiscal rules and an…
- Australian national accounts – growth is up but mostly because of inventory buildup which will reverseon 5 March 2026 by bill
I finally arrived back home late last night, so I am catching up today. Part 2 of the series I started on Monday will appear next Monday. Yesterday (March 4, 2026), the Australian Bureau of Statistics (ABS) released the latest – Australian National Accounts: National Income, Expenditure and Product, December 2025. The data shows that…
- A structured approach for progressive political ambitions – Part 1on 2 March 2026 by bill
I am stuck in London courtesy of the terrorist policies of Donald Trump and his Israeli gang mates. I arrived at Heathrow on Saturday expecting to be home by last evening only to learn that all flights via Doha were indefinitely suspended. Big problem. I was lucky to find a hotel room at the airport…
- Inflation in Japan – invariant to monetary policy and be careful what you wish for (tourism)on 26 February 2026 by bill
I have been thinking about the recent inflation trajectory in Japan in the light of constant calls from mainstream economists (including a bevy of private bank economists who work for institutions that benefit from interest rate hikes) for the Bank of Japan to hike rates. What is driving CPI movements? What has been the impact…
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