Welcome to MMT works

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.

Upcoming event: MMT Forum 2026, Fri 18 Dec, 9:30am – 6pm, ISH Venues, London

Posts from Richard Murphy at Tax Research UK

Posts from Bill Mitchell – Modern Monetary Theory

  • The intersection of neoliberalism and traditional Japanese values – Part 1
    on 22 October 2026 by bill

    In the West, particularly the English-speaking world, neoliberalism seemed to easily replace the collectivist values of the full employment era that followed the Second World War. It constructed a world where individualism was prioritised over society, even though it claimed that society (all of us) would be better off by pursuing our own greedy interests.…

  • Kyoto Report 2026 – 4
    on 20 October 2026 by bill

    This weekly report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. Signs I come across I had to go down into central…

  • French protests reflect the dysfunctional architecture of the common currency
    on 19 October 2026 by bill

    The social instability in France is now spreading throughout Europe. Already there are mass protests in Spain and Portugal, Belgium, Italy, and Albania. In France, initially students began protesting over conditions in the schooling system, but the grievances and parties involved have broadened out and the increasingly chaotic scenes in Paris have spread out to…

  • Australian labour market – further deterioration and there is worse to come
    on 15 October 2026 by bill

    The labour market contraction that I have been signalling for the last three months continued in September. The rising unemployment rate and the declining employment levels are all down to the work of the RBA and its ridiculous interest rate increases. Given the lag in interest rates impacting on the real economy, the current labour…

  • Kyoto Report 2026 – 3
    on 13 October 2026 by bill

    This weekly report will provide some insights into life for a westerner (me) who is working for an extended period at Kyoto University in Japan but who over the years of working here has increasingly began to understand the language and local cultural traditions. Kurama – the hot spring that isn’t! I have resisted travelling…

Other Modern Money Theory Proponents

Other MMT Discussion

Accessibility Toolbar