this post was submitted on 22 Sep 2023
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Work Reform

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submitted 1 year ago* (last edited 1 year ago) by davetapley to c/workreform
 

A video explaining modern monetary theory and how with a little Marxism it can benefit everyone.

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[–] [email protected] 12 points 1 year ago (2 children)

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.

[–] davetapley 4 points 1 year ago (1 children)

Amazing summary, and I'm glad you mentioned landlords. I am having such a struggle lately when people tell me about their 'side hustle' as a landlord, and how they make so much passive income. I just wanna scream "so you feel good about making money doing basically nothing while there are so many people unsheltered, and living paycheck to paycheck?".

[–] NightAuthor 3 points 1 year ago

It’s hard to have true empathy for something you have no real concept of.

[–] unfreeradical 1 points 1 year ago* (last edited 1 year ago)

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.