Anyone who takes power in the US will necessarily be an agent of the Bourgeois in some way. That means they can challenge financial capital or they can challenge industrial capital but not both. The Industrial Bourgeois could very well do massive social spending but they'd only do it if it benefited industrial capital at the same time. A smart fascist would do a GND-style expenditure but instead of doing state-owned enterprises they use MMT to invest in new privately owned but publicly funded projects. Instead of creating "millions of good union jobs" it could create millions of precarious non-union jobs so that people who own construction firms could get insanely rich while stopping the hemorrhaging economy. If I was an unscrupulous politician who wanted to seize power I'd run as a socially centrist state capitalist who wanted to do major "public-private partnership" projects that build infrastructure but don't threaten mine owners or loggers or oil field owners. I think the industrial bourgeois is skeptical of MMT because they see it as further financialization of the economy and as an instrument of the cosmopolitan bourgeoisie, but they might change tune if they can control it to an extent and if it made them way richer.
Anyone who takes power in the US will necessarily be an agent of the Bourgeois in some way. That means they can challenge financial capital or they can challenge industrial capital but not both. The Industrial Bourgeois could very well do massive social spending but they'd only do it if it benefited industrial capital at the same time. A smart fascist would do a GND-style expenditure but instead of doing state-owned enterprises they use MMT to invest in new privately owned but publicly funded projects. Instead of creating "millions of good union jobs" it could create millions of precarious non-union jobs so that people who own construction firms could get insanely rich while stopping the hemorrhaging economy. If I was an unscrupulous politician who wanted to seize power I'd run as a socially centrist state capitalist who wanted to do major "public-private partnership" projects that build infrastructure but don't threaten mine owners or loggers or oil field owners. I think the industrial bourgeois is skeptical of MMT because they see it as further financialization of the economy and as an instrument of the cosmopolitan bourgeoisie, but they might change tune if they can control it to an extent and if it made them way richer.