by If democratic socialists see social democracy as one of the key stepping stones towards a truly egalitarian society, the issue of how we can sustainably finance such programs is of the utmost importance. An economic doctrine named Modern Monetary Theory (MMT) is surging in popularity and offering answers. MMT is debunking popular narratives about the harsh necessity of austerity and belt-tightening. It is showing that money is not a finite abstraction, but a limitless public utility that can be used to meet human needs. More than this, however, MMT and its heterodox economic cousins offer a framework to build directly democratic, egalitarian political structures, and thus reimagine and recalibrate the viability of democratic socialism.... Lays out a Democratic Socialist program based on
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If democratic socialists see social democracy as one of the key stepping stones towards a truly egalitarian society, the issue of how we can sustainably finance such programs is of the utmost importance.
An economic doctrine named Modern Monetary Theory (MMT) is surging in popularity and offering answers. MMT is debunking popular narratives about the harsh necessity of austerity and belt-tightening. It is showing that money is not a finite abstraction, but a limitless public utility that can be used to meet human needs. More than this, however, MMT and its heterodox economic cousins offer a framework to build directly democratic, egalitarian political structures, and thus reimagine and recalibrate the viability of democratic socialism....Lays out a Democratic Socialist program based on MMT understanding of government finance and heterodox economics.
Truthout | Op-Ed
"But How Will We Pay for It?": Modern Monetary Theory and Democratic Socialism
Sean Keith, second year student at Northeastern University in a BA-MA combined history program with a minor in Chinese, and Alexander Kolokotronis, Ph.D. student in political science at Yale University, founder of Student Organization for Democratic Alternatives, and formerly the student coordinator of NYC Network of Worker Cooperatives and worker cooperative development assistant at Make the Road New York