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
- Channel 4 should hang its head in shame: A review of ‘The Great ADHD myth?’
on 19 August 2026 by Richard MurphyI watched last night’s Channel 4 documentary, “The Great ADHD Myth?”. The programme was presented by Dr Max Pemberton, who explained he had been a Read the full article...
- This is nutson 19 August 2026 by Richard Murphy
As FT Alphaville noted yesterday: In case you were wondering, the Strait of Hormuz is still closed. The US economy is propped up by an Read the full article...
- Infographic: The unreasonable person
on 19 August 2026 by Richard MurphyHow to expand this image If you press CTRL or Command and the Plus (+) key on your keyboard, your browser should increase the size Read the full article...
- Who is defending us?on 19 August 2026 by Richard Murphy
Every Prime Minister says defence is their first duty, and I agree. But defence means more than protection from foreign enemies. Serious threats to people Read the full article...
- ADHD is a social construct, but so too is canceron 18 August 2026 by Richard Murphy
The Channel 4 documentary on neurodivergence, fronted by autism and ADHD cynic Dr Max Pemberton, which is widely feared within the neurodivergent community and which Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Real wages in Australia decline for the third consecutive quarteron 19 August 2026 by bill
Today (August 19, 2026), the Australian Bureau of Statistics released the latest – Wage Price Index, Australia – for the June-quarter 2026, which shows that the aggregate wage index rose by 3.2 per cent over the 12 months down from 3.4 per cent in the March-quarter. With the annual inflation rate for the June-quarter came…
- ECB research paper continues to deny that bond buying programmes essentially funded the Eurozone governmentson 17 August 2026 by bill
The ECB recently published in their Occasional Paper Series the following report (No. 397) – Prohibition of monetary financing: an economic perspective – which purports to justify the current practice of central banks of not directly buying the debt issued by their governments, despite many central banks at various times since this practice became the…
- Radio MMT – Episode 79 Bill Mitchell: Marx & Socialismon 12 August 2026 by bill
I am travelling most of today and have commitments at the other end. So I have meaning to post his podcast I did with Melbourne radio station 3CR in July, so today is a good time to make it available here. As I understand it, this is an edited version of a longer talk that…
- Alt protein is the way forward and China is already well ahead of the rest who are infested with destructive neoliberal ideologyon 12 August 2026 by bill
With the Rhine drying up and grass turning brown all over Europe (including the UK), even conservative bodies such as the ECB are starting to take notice and comment. On July 2, 2026, a member of the Executive Board, Frank Elderson gave a speech to the 7th World Congress of Environmental and Resource Economists –…
- Be thankful for small mercies – proposed cut in Japan’s sale taxon 10 August 2026 by bill
Most of the economics commentary in the last few weeks about Japan has been about the need for higher interest rates or, relatedly, the ‘desperate’ foreign exchange intervention where the US allegedly bailed out Japan to prevent currency failure. All side issues really. The forex intervention said more about US paranoia than anything about Japan’s…
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