by Summary:
The following is part-3 in an open series meant to introduce the basics of modern monetary theory (MMT) and to explore the potential for MMT’s radical model of macroeconomic reality to intersect with revolutionary theory and struggle. In part-1, the basic principles and monetary mechanics of MMT were presented alongside an irresponsibly brief review of money’s evolution from its prehistoric origins to the ongoing failure of orthodox economics to explain how money functions today. Part 2 looked at how MMT re-writes the rules of public spending and how it could be used by the working classes to build radical organizations and fight the power of capital with a self-managed federal job guarantee. And now Part 3 presses on to new territory where, for the first (and probably last) time, engine
Topics:
Mike Norman considers the following as important: Chartalism, MMT, monetary economics
This could be interesting, too:
The following is part-3 in an open series meant to introduce the basics of modern monetary theory (MMT) and to explore the potential for MMT’s radical model of macroeconomic reality to intersect with revolutionary theory and struggle. In part-1, the basic principles and monetary mechanics of MMT were presented alongside an irresponsibly brief review of money’s evolution from its prehistoric origins to the ongoing failure of orthodox economics to explain how money functions today. Part 2 looked at how MMT re-writes the rules of public spending and how it could be used by the working classes to build radical organizations and fight the power of capital with a self-managed federal job guarantee. And now Part 3 presses on to new territory where, for the first (and probably last) time, engine
Topics:
Mike Norman considers the following as important: Chartalism, MMT, monetary economics
This could be interesting, too:
Mike Norman writes Jared Bernstein, total idiot. You have to see this to believe it.
Steve Roth writes MMT and the Wealth of Nations, Revisited
Matias Vernengo writes On central bank independence, and Brazilian monetary policy
Michael Hudson writes International Trade and MMT with Keen, Hudson
The following is part-3 in an open series meant to introduce the basics of modern monetary theory (MMT) and to explore the potential for MMT’s radical model of macroeconomic reality to intersect with revolutionary theory and struggle. In part-1, the basic principles and monetary mechanics of MMT were presented alongside an irresponsibly brief review of money’s evolution from its prehistoric origins to the ongoing failure of orthodox economics to explain how money functions today. Part 2 looked at how MMT re-writes the rules of public spending and how it could be used by the working classes to build radical organizations and fight the power of capital with a self-managed federal job guarantee. And now Part 3 presses on to new territory where, for the first (and probably last) time, engine mechanics and the state theory of money will become relevant to a discussion of one of history’s most exhilarating topics — taxes. (Please, don’t leave)…
John Lauritis Blog
On the State Theory of Money, Social Power, & Taxes: Modern Money Systems 3
John Lauritis