So anyone have an opinion on this?
Fucked if i know
Jaxson Murphy
Jayden Bailey
"In the present economic system, real resources are mobilized only on the say-so of the issuers or possessors of money, and only on their terms. No production, even for profit based on the exploitation of labor, takes place until finance is secured. It makes a great difference whether money is made available on our terms, by a democratically accountable currency-issuing government, or on the basis of private interests motivated narrowly by profit, facilitated by an unaccountable government."
"we should beware the right-wing minimum-income schemes, which go back to Milton Friedman’s “negative income tax” and “helicopter money,” and are coming back to the future as capitalist-friendly, inequality-preserving, simplistically anti-tax UBI proposals from Sili-Libertari-con Valley. On the one hand, these proposals demonstrate that they know that taxes-don’t-fund-spending is really the way fiat money works, and they see some hobbled version of UBI—something that provides the masses with subsistence income outside the gated compounds—as necessary to keep the jobless society they’re creating from exploding. On the other hand, they are very wary about coming out too strongly with proposals that might reveal the radical possibilities this knowledge opens up for fiscal policy."
Gabriel Murphy
MMT is the way to go. You can watch some interviews/lecture with Michael Hudson for basic overview of his take on the economy and MMT.
youtube.com
youtube.com
youtube.com
Ironically, this also implies that UBI can help raise awareness about how fiat money works among the masses. I didn't think I would ever find a reason to like UBI but here is one.
Isaac Hall
Thanks, I'll check it out. Seems potentially central to a 21st century socialist platform.
Jack Butler
I don't get the big deal with MMT. It's just a slightly different way of looking at taxes, not some kind of breakthrough.
Even if taxes don't directly fund spending, you still need taxes to prevent inflation, presumably in proportion to your spending, so higher taxes do "pay" for spending if you don't want inflation.
Charles Walker
MMT attacks the neoclassical economic theories that most bourgeois states use to justify their economic policies. These policies surrender the power to create money to private finance. Unlike industrial capitalism which is progressive, financial capitalism is reactionary and will regress society to something resembling feudalism. Following MMT means that the people (through the superficially democratic system present in bourgeois states) control money creation. MMT is a way to restore some limited degree of democratic oversight over the economy.
Inflation can also be prevented through increasing supply of commodities, which comes with it's own set of problems of course.
Brandon Ortiz
...
Robert Ramirez
muh Venezuelaaaaaa
Wyatt Reed
Did they actually print money?
Carson Brooks
Yes.