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Why The Government Has Infinite Money (www.youtube.com)
submitted 2 years ago* by to c/workreform@lemmy.world
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A video explaining modern monetary theory and how with a little Marxism it can benefit everyone.

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[–] [S] 4 points 2 years ago* (1 child)

This other video at 29:43 also blew my mind, I just never thought about tax in that way, and it's embarrassing.

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  • [–] 3 points 2 years ago (1 child)

    Summary for the video-impaired?

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  • [–] 12 points 2 years ago (2 children)

    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.

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  • [–] [S] 4 points 2 years ago (1 child)

    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?".

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  • [–] 1 point 2 years ago* (last edited 2 years 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.

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