Modern Monetary Theory

Bob Murphy and Jonathan Newman take on the rising popularity of Modern Monetary Theory and explain why it stands in direct opposition to Austrian economics. Using clips from the documentary Finding the Money, they critique MMT’s core assumptions, from government spending and deficit myths to the origins of money itself. They offer historical evidence, economic logic, and biting rebuttals to MMT’s claims, exposing its flaws and clarifying what’s really at stake in today’s monetary debates. Recorded at the Mises Institute in Auburn, Alabama, on July 24, 2025. Mises University is the world’s leading instructional program in the Austrian School of economics, and is the essential training ground for economists who are looking beyond the mainstream.