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

    • agarorn@feddit.de
      link
      fedilink
      arrow-up
      12
      ·
      1 year ago

      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.

      • Dave@lemmy.worldOP
        link
        fedilink
        arrow-up
        4
        ·
        1 year ago

        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?”.

      • unfreeradical@lemmy.world
        link
        fedilink
        arrow-up
        1
        ·
        edit-2
        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.