Sunday, February 24, 2019

Magpie — Parallel Lives

Personally, I’d recommend Marxists to pay MMT closer attention. It has plenty to teach us.
I would say the same to MMTers.

Marxism is about emancipation of workers from wage-slavery, which Marx analyzes in terms of capitalism as concentrated private ownership of the means of production being based on rent seeking and rent extract. This is free riding on the system and is parasitical. 

Under capitalism, workers are in a position similar to serfs and peasants under feudalism and the dominance of land lords, regardless of being "better off." They are still putting in unpaid work time and have little chance to escape the system in aggregate. The Horatio Alger stories obscure the truth.

Peter Cooper (www.heteconomist.com is probably the best reference on MMT and Marxism.  Michael Hudson ( is also a good source, although he is not always in paradigm with MMT.

Magpie's Asymmetric Warfare
Parallel Lives

See also

Mitchell Aboulafia | Professor of Philosophy at Manhattan College

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