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
- Infographic: Keynesianism
on 11 August 2026 by Richard MurphyLike the infographic on Marx, this one on Keynes and his thinking took a long time to get right: How to expand this image If Read the full article...
- The cost-of-living crisis is real. The problem is the blind eye turned to it
on 11 August 2026 by Richard MurphyThis comment was posted on the blog this morning in response to my post from yesterday afternoon on questions that Andy Burnham should be asked Read the full article...
- Debate Ammunition: Trump, the serial failureon 11 August 2026 by Richard Murphy
THE RICHARD J MURPHY YOUTUBE CHANNEL DEBATE AMMUNITION Trump the Serial Failure Funding the Future | August 2026 Topic Why Trump's serial diplomatic and domestic Read the full article...
- What else can Trump get wrong? All he now does is failon 11 August 2026 by Richard Murphy
Donald Trump calls himself the ultimate dealmaker. The record says otherwise. His breakthrough deal to reopen the Strait of Hormuz with Iran collapsed when Iran Read the full article...
- Questions for Andy Burnham on the cost of livingon 10 August 2026 by Richard Murphy
A friend sent me an email this afternoon. They said, after the usual social exchanges: Further to Burnham's announcement of a PM progress around the Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- 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…
- Japan’s proposed investment boost will not run out of yenon 5 August 2026 by bill
The prophets of doom (Japan division) are back in town predicting the worst for the country. The UK Guardian even is getting in on the act (July 25, 2026) – Can Japan avoid a Liz Truss-style shock as its PM embarks on a giant spending spree?. It is interesting now that the prophets have a…
- A shift to fiscal surplus in Australia would amount to a criminal act by governmenton 3 August 2026 by bill
The former head of the Australian Treasury claims that: “Everybody knows the budget should be in surplus right now.” Well last time I checked I was still part of the body of humanity and I don’t know that. In fact, the fiscal balance is currently recording a deficit (which should be referred to as a…
- RBA governor makes another self-serving public presentation ignoring the dismal reality she is helping to createon 30 July 2026 by bill
Earlier this week (July 28, 2026), the Governor of the Reserve Bank of Australia presented to a fundraising event in Sydney on the topic of – Monetary Policy in an Era of Shocks. Later she conducted a Q&A session where she declined to answer key questions about the policy choices the RBA has taken under…
- Another neoliberal institution shown to be unfit for purpose while lining the pockets of private equity and millionaireson 27 July 2026 by bill
Over the last several years, I have been indicating that I think we are in the endgame for neoliberalism as a dominant ideology. On many fronts, the signs are that its institutional structure has failed and the promises that justified that structure have not materialised. I know there is a difference between the promises to…
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