Thread by @sdgrumbine

Modern Monetary Theory is a description of macroeconomic operations. Like the manual. It describes what happens when various levers are pulled. There is not country "doing MMT" because MMT describes the good and the bad of a modern money economy. 1/x

If a country adds extra rules that serve no purpose but they do it anyways that doesn't change a thing. They have created a self imposed rule or ritual. It impacts results sure... But it is both unecessary and often stupid and unproductive.

If a neoconservative government with neoliberal beliefs towards markets and globalism comes to power, they appoint their people to "man" the levers. Just because the results are absolutely abhorrent doesn't disprove MMT. It shows what happens when a hammer is given to a murderer.

A hammer in the hands of an artist can produce beautiful works. A gun in the hands of a freedom fighter can free a nation but a gun in the hands of an oppressive regime can bring a nation to it's knees.

The same is true with a socialist government with socialist proclivities and a framework to support a people owned means of production. MMT would describe the system and it could advise how to optimize the system to meet the needs of that framework.

So all the "show me a country that uses MMT" bullshit is just that .. bullshit. Every country is an MMT country. But every country is not analysing outcomes via MMT and not optimizing their economy for full employment and price stability.

But to say "what country uses MMT" I would pushback and ask what country has the sense to elect MMT informed representatives and inform their voting populace what MMT really is, what taxes are really for and what creates the most fiscal space to do the most for the nation.

Imagine for a moment Africa and their plight to gain food, energy and monetary sovereignty?

realprogressives.org/podcast_episod…

Add in global reparations and a global Green New Deal with @FadhelKaboub

realprogressives.org/podcast_episod…

@nssylla is amazing. Follow him