My appearance on the MMT podcast
I’ve been following the Modern Monetary Theory debate for about 18 months, and I’m largely a convert: governments spend money into existence and tax it out of existence, and government deficit spending is only inflationary if it’s bidding against the private sector for goods or services, which means that the government could guarantee every unemployed... more
Podcast – Cory Doctorow's craphound.com
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Show Notes
I’ve been following the Modern Monetary Theory debate for about 18 months, and I’m largely a convert: governments spend money into existence and tax it out of existence, and government deficit spending is only inflationary if it’s bidding against the private sector for goods or services, which means that the government could guarantee every unemployed person a job (say, working on the Green New Deal), and which also means that every unemployed person and every unfilled social services role is a political choice, not an economic necessity.
I was delighted to be invited onto the MMT Podcast to discuss the ways that MMT dovetails with the fight against monopoly and inequality, and how science-fiction storytelling can bring complicated technical subjects (like adversarial interoperability) to life.
We talked so long that they’ve split it into two episodes, the first of which is now live (MP3).