I realize some people here may not know what Axios is
all these boojy dregs with supposedly ruined careers have hit their second wind as part of an interconnected CIA / bourgeois propaganda machine projected out through Twitter

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Constantignoble posted in What are tHE rHizzonE reading? (18281 posts)
hey gibbonstrength, good to see you

i read gobs of MMT primary lit (and principal theorists' blog posts, as one did) circa 2009-2011. in terms of abstract descriptions of the mechanisms of a fiat money system with floating exchange rates it's pretty good — including the vertical-horizontal distinction (i.e. fiat/exogenous/state vs credit/endogenous/bank) in money creation. i'm still fairly sympathetic to it on those grounds, even though it's all stuff that marxists and post-keynesians Already Knew; it just communicates those ideas in a very tidy programmatic/memetic bundle

that said, on the prescriptive end, it doesn't set its sights far enough; liberalism, natch. it pretty much just ends up being an easier way to make a technical case for full-employment social democracy among budget-concerned liberals.

several of its theorists are closeted marxisant types and expressly describe the employer-of-last-resort/job guarantee program as a solution to the reserve army of the unemployed, viewing it as a way to circumscribe and erode capital's hold over production, since the private sector can shrink freely when there's a public option to absorb everyone who wants a job during a crisis, TINA loses all clout in the popular consciousness, etc. the big trouble there is that this treats class struggle as a mere technical issue to overcome, rather than one of domination constitutive of economic and political life — par for reformism in general.

despite the high hopes of that subgroup, at the end of the day it's still the left wing of fascism. hell, i recall a separate subgroup under the alternate moniker of MMR (modern money realism) that kept the descriptive bits and discarded most of the left-lib policies. either way, the amount of work needed to bring MMT's central proposals to life is probably less than an order of magnitude off from what's needed to actually overthrow the bourgeoisie, even when making some deals with devils — e.g., just about the only powerful lobby you'll be able to recruit to the cause is landlords, who'd love to know their tenants will always have an earning option

(incidentally, i could swear i recall Cope or someone detailing somewhere that an opportunistic worker/landlord alliance was what led to some of the legislative acts that helped first give rise to the labor aristocracy in 19C england, but i need to figure out where)
serafiym posted in we are listening to music (4324 posts)
one of my coworkers in the kitchen was singing No Ordinary Love today so this night i want to share a remix of a Sade song im listening to

shapes posted in What are tHE rHizzonE reading? (18281 posts)

Gibbonstrength posted:

Is there a good summary of MMT so I can make fun of it

brief: https://jacobinmag.com/2019/02/modern-monetary-theory-isnt-helping

thorough: https://critiqueofcrisistheory.wordpress.com/modern-money/

Gibbonstrength posted in What are tHE rHizzonE reading? (18281 posts)
Is there a good summary of MMT so I can make fun of it
lo posted in What are tHE rHizzonE reading? (18281 posts)
i started reading volume 1 of male fantasies, the theweleit book, it's basically him looking in detail at freikorps literature by way of psychoanalysis to try and work out what the deal is with fascists, and volume 1 is specifically about fascist attitudes to women. i'm not very far into it yet so at this point he's mostly just tracing out different patterns that keep showing up in all these insane freikorps books. i'm not finding it super compelling just yet but i want to see what he does with all the patterns later on in the book.
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