Pathfinder@lemmygrad.mltoThoughts on ...?@lemmygrad.ml•Thoughts on Modern Monetary Theory?
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6 days agoI have to partially disagree that proponents of MMT don’t talk about imperialism. I mean, yes, a lot don’t. But Marxists or Marxist-adjacent folks like Michael Hudson or Steve Grumbine talk about it all the time.
I think it’s the best theory out there that explains the nature of money and how it works in the economy. In my opinion it provides superior explanations for how money works compared to what neoliberalism can provide.
Do liberals like to latch onto it in order to come up with dreams of social democracy that works by printing money? Sure, and they’re wrong. But in terms of its explanatory power for a theory of money? Yeah it’s pretty dope.
We’re not going to be eliminating the money form any time soon. I think the central banks in Beijing, Pyongyang, Havana etc would do well to study and apply MMT.