Welcome to MMT works

MMT coin

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.

More posts at mmt.works…

Posts from Richard Murphy at Tax Research UK

  • Unequalism, anyone?
    on 25 June 2026 by Richard Murphy

    Commentator Katy J contributed this comment yesterday: “Herewith a few possible alternatives to the anodyne ‘neocapitalism’ – mostly verging on the outlandish, but it was Read the full article...

  • The politics of James Purnell
    on 25 June 2026 by Richard Murphy

    It has been widely reported that Andy Burnham is planning to appoint James Purnell, with whom Burnham served in Gordon Brown's cabinet, as his chief Read the full article...

  • To improve well-being we must abandon failed economic ideas
    on 24 June 2026 by Richard Murphy

    Do you recall this lot? Margaret Thatcher, John Major, Tony Blair, Gordon Brown, David Cameron, Theresa May, Boris Johnson, Liz Truss, Rishi Sunak ,and Keir Read the full article...

  • An update
    on 24 June 2026 by Richard Murphy

    I thought I would share an update. I had hoped I would have the procedure for the kidney stone I am suffering with yesterday, but Read the full article...

  • There’s a reason why seven prime ministers have failed
    on 23 June 2026 by Richard Murphy

    I watched a reasonable amount of the news last night. It kept being said that seven prime ministers in 10 years is unacceptable. Questions were Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • Australian labour market – slight improvement after dismal results in April
    on 25 June 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (June 25, 2026) – Labour Force, Australia – for May 2026 – which showed that the labour market improved slightly in May after a poor showing in the April figures. However, there are now 10.2 per cent of available labour not being…

  • Replacing Starmer/Reeves with another captive of the finance sector will change nothing
    on 22 June 2026 by bill

    Successive governments in the UK – Labour and Tory – have pushed the nation to the brink where there is little capacity left for progressive policy. And I am not referring to Brexit. Rather, the elevation of the financial sector as a primary force in the economy, dating back really to the Callaghan Labour government…

  • Towards a progressive rebuttal of the far Right narratives
    on 18 June 2026 by bill

    I saw a clip from John Stewart’s Daily Show yesterday where he showed some Fox News commentators (I think) talking about how they hate ‘woke’ and how they now have to put up with public events featuring “half naked men” (their slight against the gay community). Stewart then showed the next clip – the cage…

  • Can capitalism survive? Not if we want to solve the climate and poverty crisis
    on 15 June 2026 by bill

    The opening line of Part II of Joseph Schumpeter’s 1942 book – Capitalism, Socialism and Democracy – was “Can capitalism survive? No, I do not think it can”. His thesis was not that capitalism would perform badly, quite the opposite. Rather the considered that “its very success undermines the social institutions which protect it, and…

  • Apparently the UK government is about to do the impossible – run out of sterling
    on 11 June 2026 by bill

    Go back to the headlines in 2010 – – “Countries with debt over 90 percent of GDP enter a danger zone”. The 90 per cent threshold entered the media coverage as a result of a paper released by Harvard economists Ken Rogoff and Carmen Reinhart – Growth in a Time of Debt. That paper talked…

More Bill Mitchell @ billmitchell.org

Other Modern Money Theory Proponents

Other MMT Discussion

Accessibility Toolbar