Heterodox
I am reposting the article below by Wally Mooney (with permission) which was an indirect reply to Paul Mason’s recent article. I thought it was a very lucid and well-argued piece on why Modern Monetary Theory (MMT)’s conclusions as to how money is created is factually correct and that is the case whether you are a Marxist or a Capitalist or somewhere in between. For me it also illuminated Marxist ideas (with which I have to imagine, Paul Mason presumably agrees). Must-read, IMHO.Wally...
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