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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.

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Posts from Richard Murphy at Tax Research UK

  • The price of fascism
    on 23 July 2026 by Richard Murphy

    Some people online say I was wrong to forecast an upcoming economic crisis for this summer and thereafter. I beg to differ. Brent crude oil Read the full article...

  • My View On … Work
    on 23 July 2026 by Richard Murphy

    The Richard J Murphy YouTube Channel And My View on … Work Richard J Murphy _____________________ This post is part of an ongoing series in Read the full article...

  • For how long will corporate abuse last?
    on 23 July 2026 by Richard Murphy

    As the Guardian reported yesterday: The world’s biggest ultra-processed food companies have filed scores of lawsuits challenging government policies that tackle junk diets, the Guardian Read the full article...

  • Infographic: Central banks
    on 23 July 2026 by Richard Murphy

    Some of my infographics are relatively easy to write. This one took many drafts, even before the drawing began, and several more after that. I Read the full article...

  • How are you going to pay for it?
    on 23 July 2026 by Richard Murphy

    My old friend, Larry Elliott, wrote this in the Guardian yesterday: Some things have changed since the long hot summer of 1976. One of the Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • Australian labour market – shifts towards part-time work perhaps the first signal that a contraction is coming
    on 23 July 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (July 23, 2026) – Labour Force, Australia – for June 2026 – which provided mixed signals about the state of the labour market. While employment growth was positive, it was biased to part-time work, which is perhaps signalling a weakening as the…

  • CEO pay excess in Australia continues
    on 20 July 2026 by bill

    In addition to the basis academic research that occupies my working time and is funded by national competitive research funding agencies such as the Australian Research Council, I also do commissioned work for various organisations, mostly unions and community groups. That income allows me to also cross subsidise the basic research and is how a…

  • Proposed pension reform in Japan (and elsewhere) misses the point
    on 16 July 2026 by bill

    Earlier this year, I analysed how decisions taken by the Japanese Government Pension Investment Fund to speculate in global financial markets have played a significant role in the depreciation of the yen. In this blog post – Japan’s Government Pension Investment Fund and the yen – mainstream macro myths driving bad policy (February 2, 2026)…

  • Imagine if the British government wrote off its holdings of its own debt
    on 13 July 2026 by bill

    Last week, I considered recent research published by the BIS – Bank of International Settlements pushing the ‘growth friendly austerity’ myth – which was a classic example of how the sense of urgency and crisis is engendered by constructing the narrative in such a restricted manner that real world options are excluded which contradict the…

  • Bank of International Settlements pushing the ‘growth friendly austerity’ myth
    on 9 July 2026 by bill

    I have been ‘at it’ for decades now but it never ceases to amaze me how mainstream macroeconomic analysis is carried out and the way the public just accepts the conclusions without understanding the basis on which the analysis generates those conclusions. Chapter II in the BIS Annual Economic Report (released June 28, 2026) –…

More Bill Mitchell @ billmitchell.org

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