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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

  • Your opinion, please
    on 26 March 2026 by Richard Murphy

    I am aware that I posted yesterday in a way that some might think was a little intemperate, or even inappropriate, because what I expressed Read the full article...

  • Wales can deliver a political earthquake
    on 26 March 2026 by Richard Murphy

    YouGov has provided that change is possible within UK (or at least Welsh) politics. They have undertaken an MRP poll to suggest the likely result Read the full article...

  • It’s time to end all political donations
    on 26 March 2026 by Richard Murphy

    As the Guardian reported yesterday: Political donations from British citizens living abroad are to be capped at £100,000 a year from Wednesday, in a move Read the full article...

  • Should we forget the rules?
    on 26 March 2026 by Richard Murphy

    Economic policy today is dominated by rules: deficit limits, debt targets, inflation targets, and interest rate rules. But what if these rules are the problem, Read the full article...

  • Inequality is breaking the economy
    on 25 March 2026 by Richard Murphy

    We have just published this short video on YouTube and many other channels. This is the transcript: Inequality is undermining our economy. That’s the consequence Read the full article...

More from Richard Murphy @ taxresearch.org.uk

Posts from Bill Mitchell – Modern Monetary Theory

  • New Green-linked report in Britain avoids the critical issue
    on 26 March 2026 by bill

    I read a new Report this morning – Waste Not – that was published by a new unit in Britain called Verdant, which seems to have links to the England and Wales Green Party. The work is interesting and raises several issues that bear on how government fiscal policy should be assessed. The issues I…

  • A structured approach for progressive political ambitions – Part 4
    on 23 March 2026 by bill

    This is Part 4 of the short series of briefing notes that arose out of discussions I recently had in London about how a progressive political party might want to break out of the shackles that the British Labour Party has bound itself in with its obsession with fiscal rules and an adherence to the…

  • Australian labour market – unemployment rises sharply – hard to reconcile with RBA’s excess demand claim
    on 19 March 2026 by bill

    The Australian Bureau of Statistics (ABS) released the latest labour force data today (March 19, 2026) – Labour Force, Australia – for February 2026 – which showed that the labour market had gone backwards. While employment growth remained positive, full-time work fell. The participation rate rose, which in some situations indicates a positive outlook as…

  • A structured approach for progressive political ambitions – Part 3
    on 15 March 2026 by bill

    This is Part 3 of the short series of briefing notes that arose out of discussions I recently had in London 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 adherence to the fiscal…

  • Interest rate hikes will not get ships moving through the Strait of Hormuz more quickly
    on 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…

More Bill Mitchell @ billmitchell.org

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