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
- Will Burnham be a better prime minister than Starmer?
on 22 June 2026 by Richard MurphyThe obvious question to ask this morning is, will Burnham be a better prime minister than Starmer? Note: There is a poll embedded within this Read the full article...
- Normal service is not in operationon 22 June 2026 by Richard Murphy
I am sorry to report normal service will not be in operation today, and maybe rather longer. It is 05.20, I am in Addenbrookes Hospital, Read the full article...
- Tht didn’t last longon 21 June 2026 by Richard Murphy
I was not surprised by a report from the New York Times last night, which noted that: Iranian Forces Say They Closed Strait of Hormuz Read the full article...
- Europe still needs a Green New Dealon 21 June 2026 by Richard Murphy
The Economist’s Charlemagne newsletter this weekend carried an intriguing message. Faced with soaring temperatures across western Europe, it suggested that people should stop feeling guilty Read the full article...
- Fifty two questions for Andy Burnhamon 21 June 2026 by Richard Murphy
If Andy Burnham is serious about becoming prime minister, then there are a series of questions he needs to answer before anyone can sensibly judge Read the full article...
Posts from Bill Mitchell – Modern Monetary Theory
- Replacing Starmer/Reeves with another captive of the finance sector will change nothingon 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 narrativeson 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 crisison 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 sterlingon 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…
- My blog is on holiday todayon 8 June 2026 by bill
Today is a public holiday in the parts of Australia that I live and I have travel commitments. So I’ll be back on Thursday. What is this holiday about? Yes, it is deeply embarrassing but today is the King’s Birthday holiday in Australia that is meant to celebrate our glorious head of state, given that…
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