- cross-posted to:
- socialism@lemmy.ml
- cross-posted to:
- socialism@lemmy.ml
A video explaining modern monetary theory and how with a little Marxism it can benefit everyone.
A video explaining modern monetary theory and how with a little Marxism it can benefit everyone.
Summary for the video-impaired?
Basic mmt with a socialist touch.
Debt just means that the government decides to make something happen. It is neither inherently good or bad. It depends on the context. The biggest opponents are capitalist who want to stop good things from happening as this will reduce their profit. E. G. : more public housing would destroy the business case of landlords.
Capitalists absolutely love government debt, because it provides a vehicle for safe investment.
They bellyache about debt to bolster the austerity narrative that they use against public spending supporting working class interests.