this is all nonsense. the question was what monetary policy members of Pen-L would implement. that's already very, very, very far away from political reality. to take my response out of context and use it to smear another group of thinkers who, while i know them, are not me is intellectual dishonesty of the worst kind.
It is true that there are people among the "mmt" (a term i hate by the way) cohort who have said similar things in the past but it is emphatically not true that their policy positions and analysis are all based on this position. They make proposals all the time that are based on the current institutional structure as it is. the claim that the bourgeois all know how the monetary system is laughable. have you talked to the bourgeois? they don't know the first thing about monetary policy or our financial system. I went to a meeting of economics staffers last year and they were getting textbook explanations of what derivatives where, let alone the complex issues around title VII of dodd frank. Now of course I agree with you that there are powerful political interests with an interest in austerity, but that doesn't mean that the entire bourgeois knows how the system works and how it benefits them. your claims about the political views of Neo-chartalists are also laughable because many of these people have been or are members of the Union for Radical Political Economy and this group includes people like William Black, someone who has been railing against the capture of our political system by criminal banking elites. Show me one statement from any of these people that if only the elites knew how the system works the would implement their policy agenda. additionally, even if our oligarchy knew how the system worked, that doesn't mean the general population does. Monetarist myths abound widely among the general population. This is what you and other Pen-lers have never understood about Graeber. He understands that by simply talking about how our monetary and financial system works leads to radical questions among the general public. As he noted, those radical questions came up during the crisis of 2008 but were quickly buried. you don't have to lecture people about the virtues of socialism for thinking about these issues to be radicalizing. -- -Nathan Tankus ----------------------------------------------------------------------------------------------------------------------------------------------- _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
