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A large collection of examples demonstrating the #MMT view of class conflict/class struggle, and where specifically MMT addresses it.
[THREAD v.1]
(With thanks to many.)
[THREAD v.1]
(With thanks to many.)
From a 2019 post by Australian economics professor Bill Mitchell ( @billy_blog) ( http://bilbo.economicoutlook.net/blog/?p=42113 )
A thread filled with examples of how MMT addresses class conflict/class struggle by @moneyontheleft’s Scott Ferguson. https://twitter.com/videotroph/status/1282297411524874240
The job guarantee (addressed at the bottom of this thread) is the most important policy prescription of MMT. ZIRP is second. Implementation of ZIRP would "euthanize the bondholder class.” A thread by @thepublicmoney founder @rohangrey. https://twitter.com/rohangrey/status/1100754989050445824
2015 paper by Randy Wray and Alla Semenova ( http://www.levyinstitute.org/publications/the-rise-of-money-and-class-society-the-contributions-of-john-f-henry): "...the origins of money are to be found in the origins of inequality..."
Randy Wray, in 2013: “You set the tax on the rich and make it high enough so that they’re not rich.” https://twitter.com/StephanieKelton/status/1029024231755984896
The centuries long and labyrinthine accounting gimmick of "taxes and bonds fund government spending” and the #MintTheCoin proposal, which takes advantage of existing law, to short circuit all of it. https://twitter.com/NMarxism/status/1243158755895885827
The one and only book on #MintTheCoin is by PhD. political scientist @joefirestonephd, called "Fixing the Debt without Breaking America.” Here’s a 2019 post by him on the subject. http://www.dailykos.com/story/2011/01/19/937460/-President-Obama-Should-Use-Coin-Seigniorage-Now
Using the knowledge of #MMT, even on the local level. https://mobile.twitter.com/agoingaccount/status/1281657366845575176
Doug Henwood’s so-called critique of MMT (wherein he says "A few computer keystrokes and everyone gets health insurance, student debt disappears, and we can save the climate too, without all that messy class conflict.") and responses by three MMTers. https://twitter.com/MMTResources/status/1188938949269639169
A section from the 2019 MMT textbook: https://twitter.com/StephanieKelton/status/1110313777260564480
Another: The intro to chap 17: "Unemployment & Inflation.""we cast inflation within the general distributional struggle or conflict that is characteristic of capatalist economies, between workers seeking to achieve a higher wage & firms seeking to raise their profit rate."
Finally, the #MMT-designed job guarantee.“Any private operators who cannot “afford” to pay the minimum should exit the economy.”
The JG empowers workers, which by its nature is a strike against those who wish to disempower them.
From @billy_blog: http://bilbo.economicoutlook.net/blog/?p=23719
"MMT fights involuntary unemployment by eliminating it."If there’s always a living-wage-benefits job available, then there is less fear stopping those workers from standing up and demanding better. From @StephanieKelton’s The Deficit Myth:
The JG would END poverty caused by inequal, or *no*, income. It means that, relatively speaking, millions upon millions would suddenly be much wealthier (and conversely, not desperate). That’s quite a big strike against those who benefit from poverty and unemployment.
#MMT and class conflict:The only thing scarier to a rich person than
“You want to take my money to pay for your stuff!!!”
is
“Wait. You don’t NEED to take my money to pay for your stuff???”
MMT renders the rich IRRELEVANT.
MMT has, and will always, receive massive resistance from people in power & their economists. It will always receive support from many average people. The biggest statement of all made by MMT on class conflict, is the very existence of MMT.
/end From https://www.govtrack.us/congress/bills/116/sres182/text
